Reps Uncover 58 Accounts Linked to Disputed PFIPC DG

The House of Representatives ad hoc committee investigating the disputed Presidential Foreign Intervention Promotion Council (PFIPC) has identified 58 bank accounts allegedly connected to Adeniyi Adeyemi, who presented himself as the organisation’s Director-General.

The discovery is contained in the committee’s preliminary report released on Wednesday by its Chairman, Yusuf Gagdi.

According to the report, more than 30 of the accounts were reportedly operated in the names of about nine agencies, companies, foundations and other related entities. The committee also found that some of the entities had multiple accounts, while others were linked to personal or alternative names.

The lawmakers, however, said the discovery did not mean that all the accounts, organisations or transactions had been established as illegal.

The committee said it was still examining registration documents, account mandates, beneficial ownership details, authorised signatories and transaction records to establish who controlled the accounts and determine the nature of the financial activities involved.

The preliminary findings were based on testimonies, official documents, financial records and submissions from government institutions that appeared before the committee during the investigation.

The House launched the probe after the PFIPC appeared in the 2026 Appropriation Bill despite questions over whether the organisation had been legally created and recognised by the Federal Government.

The committee said its investigation had so far found no valid Act of the National Assembly or presidential directive establishing the PFIPC.

It also said documents obtained from the State House did not show that President Bola Tinubu appointed Adeyemi as Director-General of the purported organisation.

The lawmakers further reported that there was no evidence that the President’s Chief of Staff, Femi Gbajabiamila, signed the appointment letter allegedly used to present Adeyemi as the PFIPC Director-General.

The committee said the evidence available to it did not establish that Gbajabiamila authorised, approved, created or participated in the activities of the organisation.

The investigation is continuing as the committee works to establish how the purported agency operated, the identities of those behind it and how it was included in the Federal Government’s budget framework.