The House of Representatives ad hoc committee investigating the purported Presidential Foreign Intervention Promotion Council has uncovered 58 bank accounts and 12 agencies and entities allegedly linked to the organisation’s disputed Director-General, Adeniyi Adeyemi.
The committee disclosed this in its preliminary report released on Wednesday by its Chairman, Yusuf Gagdi.
The House constituted the panel following controversy over the inclusion of the PFIPC in the 2026 Appropriation Bill despite questions surrounding its existence and legal status.
According to the committee, preliminary financial information showed that about 58 bank accounts were linked through identifying information associated with Adeyemi.
It added that more than 30 of the accounts appeared to have been operated in the names of about nine agencies, companies, foundations or related entities.
“Some entities appeared to have multiple accounts, while additional accounts were operated in personal or variant names,” the committee said.
However, the panel stressed that it had not concluded that every identified account, entity or transaction was unlawful.
It said it was reconciling registration records, account mandates, beneficial ownership information, signatories and transaction histories to establish the true nature and control of the identified entities and accounts.
The committee said its preliminary findings were based on oral testimonies, documentary evidence, financial records and submissions from various government institutions that appeared before it during the investigation.
PFIPC has no legal backing
The panel said its investigation found no valid Act of the National Assembly or Presidential order establishing the PFIPC.
It also said evidence obtained from the State House indicated that the Presidency did not appoint Adeyemi as Director-General of the purported organisation.
The committee further said it found no evidence that Femi Gbajabiamila, Chief of Staff to President Bola Tinubu, signed the appointment letter purportedly issued to Adeyemi.
“The documentary evidence presently before the Committee does not establish that the Chief of Staff authorised, approved, established or participated in the activities of the purported organisation,” the committee said.
“On the contrary, the evidence demonstrates repeated steps to secure investigation, institutional verification and appropriate administrative action.”
The findings come amid allegations over the authenticity of documents used to present the PFIPC as a government-backed institution and the circumstances surrounding its inclusion in the Nigerian Government’s budget framework.
The committee said its investigation was ongoing and that the preliminary findings did not represent its final report or the final position of the House of Representatives.