The House of Representatives committee investigating the purported Presidential Foreign Intervention Promotion Council (PFIPC) says it has uncovered about 58 bank accounts allegedly linked to the organisation’s detained Director-General, Prince Adeniyi Adeyemi, alongside an alleged N400 million transaction that may have involved fraudulent representations.
The findings have intensified scrutiny of how a purported government institution was able to project itself as a legitimate federal agency, obtain apparent administrative recognition and gain access to government-related facilities and budgetary processes despite questions over its legal status.
The House Ad-Hoc Committee investigating the matter disclosed the findings on Wednesday in Abuja while presenting its preliminary report on the circumstances surrounding the organisation’s appearance within the Federal Budget Framework.
Committee Chairman, Yusuf Gagdi, said preliminary information obtained from financial and investigative institutions indicated that Adeyemi’s Bank Verification Number (BVN) and other identifying information were associated with a wide network of personal, corporate, organisational and foundation accounts.
According to the committee, more than 30 of the identified accounts appeared to have been operated in the names of approximately nine agencies, companies, foundations and related entities allegedly connected to Adeyemi.
Among the entities identified were the Confederation of United Nations Youths; FCT Investment Promotion Agency and Public-Private Partnership; FCT Investment Promotion Council and Public-Private Partnership; Foreign Investment Promotion Agency; United Nations Youth Global Agency; United Nations Youth Global Foundation; World United Nations Youth Global Foundation; World Entrepreneurship University Limited; World Enterprise University Limited; FCT Investment Promotion Act; FCT Promotion Agency; and Olubadan of Ibadan Foundation.
Gagdi stressed, however, that the committee had not concluded that every account, organisation or transaction identified was unlawful.
He said investigators were still reconciling corporate registration records, account mandates, beneficial ownership details, signatories and transaction histories to establish the actual ownership and control structures behind the entities.
The committee said similarities in the names, objectives, management structures, signatories and banking relationships of several organisations had nevertheless raised concerns about whether some entities were created or deployed to create an appearance of legitimacy, attract funds or secure official recognition.
A major focus of the investigation is an alleged N400 million payment involving a company that claimed Adeyemi induced it to make payments in four instalments.
According to the committee, the alleged representation involved a promise to secure a contract for the renovation, furnishing or improvement of an official residence purportedly allocated to Adeyemi in his claimed capacity as PFIPC Director-General.
The committee said it was tracing the funds, identifying the relevant account holders and beneficial owners and determining whether public officials or private individuals participated in, facilitated or benefited from the transaction.
Gagdi said that, if the allegations are established through appropriate investigative and judicial processes, they could potentially raise issues involving fraudulent misrepresentation, obtaining money by false pretence, impersonation, conspiracy, forgery and the concealment or movement of proceeds of crime.
The committee recommended that the transaction be subjected to a separate and comprehensive financial investigation, with any preservation, freezing or recovery of assets undertaken in accordance with applicable law and judicial requirements.
Beyond the financial investigation, the lawmakers said their inquiry uncovered evidence suggesting that the PFIPC was never lawfully established as a federal government institution.
Gagdi said the committee found no Act of the National Assembly, gazetted enactment, Presidential Executive Order or other lawful instrument establishing the purported council.
Instead, the panel said documents allegedly used to establish the organisation’s authority contained evidence of possible fabrication, forgery, mutilation, impersonation and unauthorised representation of Nigerian institutions and public officials.
Among the documents under scrutiny are a purported presidential appointment letter for Adeyemi, a purported Executive Order and a document presented as an Act of the National Assembly establishing the organisation.
Evidence obtained from the State House, according to the committee, indicated that the purported appointment letter for Adeyemi was neither issued nor signed by the then Chief of Staff to the President, Femi Gbajabiamila.
The committee also said the letterhead and reference number did not conform with official State House correspondence.
Consequently, the lawmakers exonerated Gbajabiamila from allegations that he authorised, established or participated in the activities of the purported council.
Gagdi said the evidence before the committee showed that Gbajabiamila had instead communicated with relevant security and investigative agencies—including the Nigeria Police Force, Office of the National Security Adviser, Department of State Services and Economic and Financial Crimes Commission—after receiving alerts about the organisation’s activities.
The committee similarly exonerated the National Assembly committees responsible for budget scrutiny from culpability.
For lawmakers, one of the most significant questions arising from the investigation is not merely who allegedly created the organisation, but how an entity that the committee says lacked a lawful establishing instrument was able to gain apparent recognition within government systems.
The investigation has raised questions about safeguards governing:
- the creation and authentication of government institutions;
- allocation of administrative and budget codes;
- verification of official correspondence;
- government accommodation;
- access to government facilities; and
- the issuance and processing of official-looking vehicle number plates.
The purported council allegedly reinforced its claims of government legitimacy by occupying office accommodation within the Federal Secretariat Complex and operating a website presenting itself as a federal institution.
The committee also alleged that the organisation used the names, offices and photographs of President Bola Ahmed Tinubu and other senior government officials without authorisation.
The investigation has also expanded to the purported organisation’s workforce.
About 39 people were allegedly presented as employees of the organisation. The committee said it was examining their recruitment processes, appointment letters, identity cards and remuneration, as well as allegations that some prospective employees were required to make payments as a condition for securing employment.
The issue adds another dimension to the investigation, as lawmakers seek to establish whether individuals recruited by the organisation were aware of its disputed status or were themselves victims of alleged misrepresentation.
The committee has recommended that all Ministries, Departments and Agencies immediately stop recognising, transacting with or granting government privileges to the PFIPC or any related organisation whose legal status has not been independently verified.
It further recommended that no appropriation, administrative code, warrant, cash backing, financial release or government facility should be processed for the purported organisation.
Financial institutions and investigative agencies were also urged to preserve relevant account records, transaction histories, mandates and beneficial ownership information relating to the individuals and entities under investigation.
The committee called for the prompt conclusion of criminal and financial investigations and said that where sufficient admissible evidence is established, the appropriate authorities should commence prosecution before courts of competent jurisdiction.
One of the committee’s potentially broader institutional reforms is the proposal for a secure, centralised digital verification platform through which the public, businesses and government institutions could independently confirm the legal existence and status of every Federal Government institution.
Such a system, the committee said, should contain information on each institution’s establishing instrument and administrative status.
The proposal is significant for businesses and investors that routinely interact with government agencies, particularly in areas involving contracts, permits, investment promotion, procurement and public-private partnerships.
A central verification mechanism could reduce the risk of individuals or private organisations exploiting government branding and administrative structures to create fraudulent investment or contracting opportunities.
The committee commended the Nigeria Police Force, Department of State Services, Economic and Financial Crimes Commission, Independent Corrupt Practices and Other Related Offences Commission and the Office of the National Security Adviser for their contributions to tracing the alleged fabricated documents, financial accounts, transactions and associated entities.
It said the investigation would continue, particularly into the ownership and control of the 58 accounts, the alleged N400 million transaction, the purported official residence, special number plates, occupation of government accommodation and the roles of public and private individuals connected to the matter.
Gagdi emphasised that the committee’s findings remain preliminary and do not constitute a judicial determination of criminal guilt.
The chairman said outstanding evidence would still be obtained from institutions and public officials who had yet to fully comply with requests from the committee, while affected individuals would be given an opportunity to respond before definitive conclusions are reached.
The final report is expected to be submitted to the House after lawmakers return from their two-month annual recess. The House will then have the constitutional authority to consider, debate, adopt, amend or reject the committee’s findings and recommendations.
The investigation ultimately goes beyond the alleged activities of one purported agency or its alleged director-general.
It exposes a broader governance question: how easily can private actors appropriate the symbols, language and administrative appearance of government in an environment where institutional verification mechanisms may be fragmented?
For Nigeria’s public sector, businesses and international investors, the issue is significant because confidence in government institutions depends not only on laws and policies but also on the ability to verify who legitimately represents the state.
Gagdi said the investigation was intended to protect the integrity of Nigeria’s institutions and prevent private individuals or organisations from manufacturing governmental authority for personal advantage.
“The Presidency cannot be impersonated with impunity,” he said, stressing that the identity, authority and official instruments of the Federal Republic of Nigeria could not be appropriated by private individuals or organisations for personal gain.
The committee said its eventual report would set out definitive findings, institutional and individual responsibilities and recommendations for possible legislative, administrative, disciplinary, civil, financial and prosecutorial action, subject to the decision of the House and due process of law.