The House of Representatives Ad Hoc Committee investigating the purported Presidential Foreign Intervention Promotion Council (PFIPC) has uncovered 58 bank accounts and a ₦400 million transaction linked to the organization’s self-proclaimed, detained Director-General, Prince Adeniyi Adeyemi.
Presenting the preliminary findings on Wednesday, September 2, 2026, Committee Chairman Yusuf Gagdi revealed that the investigative panel found no legal basis for the council’s existence and detailed a network of fabricated authority and financial irregularities.
Key Findings of the House Committee
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58 Linked Bank Accounts: Adeyemi’s Bank Verification Number (BVN) and identification details were linked to 58 personal, corporate, and foundation accounts. Over 30 of these accounts were operated across 12 front entities, including the Confederation of United Nations Youths, FCT Investment Promotion Agency, and United Nations Youth Global Foundation.
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The ₦400 Million Renovation Deal: A private firm alleged that Adeyemi induced it to pay ₦400 million in four installments under the premise of securing a contract to renovate and furnish an official Abuja property falsely claimed to be his DG official residence.
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Non-Existent Legal Entity: The panel confirmed there is no Act of the National Assembly, Presidential Executive Order, or gazetted enactment establishing the PFIPC.
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Document Forgery & Impersonation: Investigations established that Adeyemi’s purported appointment letter was forged and never signed by Chief of Staff Femi Gbajabiamila. The panel explicitly exonerated Gbajabiamila and noted that the State House had previously alerted law enforcement agencies (Police, DSS, EFCC, and ONSA) after discovering the fake agency.
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Exploitation of Job Seekers: The committee discovered that 39 individuals were issued fake employment letters and identity cards, with investigators looking into claims that applicants were forced to pay fees to secure jobs.
Next Steps & Recommendations
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Asset Recovery & Freezing: The committee requested financial institutions and security agencies to preserve, freeze, and trace all assets and transaction histories tied to the 58 accounts and entities.
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Inter-Agency Ban: Recommended that all government Ministries, Departments, and Agencies (MDAs) immediately cease any recognition, funding, or administrative transactions with the PFIPC.
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Prosecution: Urged the EFCC, ICPC, Police, and DSS to finalize criminal proceedings covering charges of impersonation, forgery, fraudulent misrepresentation, and obtaining money under false pretenses.
