The House of Representatives committee investigating the purported Presidential Foreign Intervention Promotion Council (PFIPC) has uncovered 58 bank accounts allegedly linked to its detained Director-General, Prince Adeniyi Adeyemi.
The committee also identified an alleged ₦400 million transaction linked to Adeyemi during its investigation. Chairman of the ad hoc committee, Yusuf Gagdi, disclosed the findings on Wednesday in Abuja while presenting the panel’s preliminary report.
The investigation followed concerns over the inclusion of the purported council in the Federal Government’s budget framework, despite questions about its legal status.
Reps trace 58 accounts to Adeyemi
According to Gagdi, preliminary information from financial and investigative agencies linked Adeyemi’s Bank Verification Number and other details to about 58 accounts.
More than 30 of those accounts appeared to operate in the names of about nine agencies, companies, foundations and related entities. The committee said some of the entities also maintained multiple accounts. Others operated under personal names or different variations.
Gagdi said the panel was still examining registration records, account mandates, beneficial ownership details, signatories and transaction histories. The exercise will help the committee determine the actual ownership and control of the organisations and accounts.
The committee identified several entities allegedly connected to the network. They include the Confederation of United Nations Youths and the Foreign Investment Promotion Agency. Others include the United Nations Youth Global Foundation, World Entrepreneurship University Limited, World Enterprise University Limited and the Olubadan of Ibadan Foundation.
However, Gagdi stressed that the committee had not concluded that every account or entity was unlawful.
Committee investigates alleged ₦400m transaction
The committee also raised concerns over an alleged ₦400 million transaction involving a businessman and Adeyemi. According to the report, the businessman alleged that Adeyemi induced him to make payments after claiming he could secure a government contract.
The proposed contract reportedly involved the renovation, furnishing or improvement of an official residence. Adeyemi allegedly presented the property as his official residence as PFIPC director-general. Gagdi said the committee was tracing the funds and identifying the account holders and beneficial owners.
The panel is also investigating whether any public officer or private individual participated in or benefited from the transaction. The committee said the allegations could amount to offences if investigators establish them through due process.
These include fraudulent misrepresentation, obtaining money by false pretence, impersonation, conspiracy and forgery.
Reps say PFIPC was not lawfully established
Beyond the financial investigation, the committee said it found no valid legal instrument establishing the PFIPC. Gagdi said investigators found no Act of the National Assembly, gazetted enactment or presidential executive order creating the purported council.
The panel also identified what it described as evidence of alleged fabrication and forgery in documents used to present PFIPC as a legitimate government institution.
The documents reportedly included a purported presidential appointment letter for Adeyemi. They also included an alleged executive order and a document presented as an Act of the National Assembly. Evidence from the State House indicated that the Presidency did not issue Adeyemi’s appointment letter, according to the committee.
Gagdi said the document did not come from the Chief of Staff to the President, Femi Gbajabiamila.
The committee consequently cleared Gbajabiamila of allegations that he authorised, established or participated in the activities of the purported council. It also cleared the National Assembly committees responsible for budget scrutiny from culpability.
Committee examines alleged use of government identity
The panel said the purported council allegedly strengthened its claim to government legitimacy by occupying office space within the Federal Secretariat Complex. It also allegedly operated a website that portrayed PFIPC as a Federal Government institution.
According to the committee, the organisation used the names, offices and photographs of President Bola Ahmed Tinubu and other senior government officials without authorisation.
About 39 people were reportedly presented as employees of the purported organisation. The committee is examining their recruitment, appointment letters, identity cards and remuneration. It is also investigating claims that some prospective employees paid money as a condition for employment.
Reps recommend further investigation
Gagdi said the committee had recommended that government ministries, departments and agencies stop recognising or dealing with PFIPC until its legal status is independently verified.
The panel also urged relevant authorities to prevent government funds or facilities from being processed in favour of the purported organisation. It recommended preserving account records, transaction histories and beneficial ownership information linked to the investigation.
The committee further called for the conclusion of criminal and financial investigations into the allegations.
Where investigators establish sufficient evidence, the panel recommended that the appropriate agencies prosecute those responsible before courts of competent jurisdiction. Gagdi stressed that the committee’s findings remain preliminary. He said they do not amount to a final determination of criminal guilt.
The final report will be submitted to the House after lawmakers return from their annual recess. The House will then consider, debate, adopt, amend or reject the committee’s findings and recommendations.
Gagdi said the investigation was ultimately aimed at protecting the integrity of Nigeria’s institutions. He added that the exercise would help prevent private individuals from falsely assuming government authority.
Read also: Reps to question PFIPC DG in police custody as N400m fraud allegations deepen
