The panel of representatives links 58 bank accounts and 39 workers to the alleged fake DG PFIPC

Daud Olatunji

The House of Representatives has uncovered 58 bank accounts and 39 workers allegedly linked to Prince Adeniyi Adeyemi, who posed as director general of the alleged Presidential Council for the Promotion of Foreign Intervention.

The development was contained in the preliminary findings of the House ad hoc committee investigating the circumstances surrounding the inclusion of the Presidential Council for the Promotion of Foreign Intervention in the framework of the federal budget.

The commission, chaired by Yusuf Gagdi, made the findings public during its session on Wednesday, saying that more than 30 accounts appear to have been operated in the names of around nine agencies, companies, foundations or related entities.

According to lawmakers, the accounts were linked to Adeyemi through his bank verification number and other identifying information.

The committee, however, cautioned that discovery of the accounts does not automatically establish that every account, entity or transaction was illegal.

He said investigators are still reconciling registration documents, account mandates, beneficial owner records, signatories and transaction history.

The House investigation followed a resolution passed on July 8, 2026, directing the committee to investigate the circumstances surrounding the appearance of the PFIPC in the federal budget framework.

The committee said its preliminary investigation suggests the alleged organization was not established by any valid law or government instrument, despite claims that it was a federal institution.

It also identified more than 12 entities allegedly linked directly or indirectly to Adeyemi.

They include the United Nations Youth Confederation, the FCT Investment Promotion and Public-Private Partnership Agency, the FCT Investment Promotion and Public-Private Partnership Council, the Foreign Investment Promotion Agency, the United Nations Global Youth Agency, the United Nations Global Youth Foundation, the United Nations Global Youth Foundation, the World Entrepreneurship University Limited, the World Enterprise University Limited, the FCT Investment Promotion Act, the FCT Promotion Agency and the Olubadan Foundation of Ibadan.

Lawmakers said similarities in the entities’ names, goals, management structures, signatories and banking relationships raised concerns that different organizations were created or employed to project governmental, international, investment, educational, charitable or United Nations-related identities.

The committee said it was investigating whether the entities would be used to create artificial credibility, solicit funds, attract investment, obtain government recognition or benefits or induce members of the public to part with money.

The committee also revealed that around 39 people had been introduced as employees of the alleged organization including junior, middle and senior managers.

It said it was examining how workers were recruited, letters of appointment and identity cards issued to them, salaries and allowances allegedly paid, as well as claims that some candidates were asked to pay money as a condition of securing employment.

Lawmakers said the investigation will distinguish between individuals who were allegedly tricked into believing the organization was authentic and those who may have knowingly participated in or benefited from its activities.

N400m contractual claim

The committee further revealed that a company had alleged that Adeyemi had induced it to pay about N400 million in four installments after he allegedly stated that he would receive a contract for the renovation, furnishing or improvement of a residence purportedly assigned to him as the General Manager.

The company reportedly told the committee that its representatives were taken to a property in Abuja and informed that it was the purported official residence.

The committee said it was tracking the payments, identifying account holders and beneficial owners, and verifying the ownership and status of the property.

It said if the charges were established through proper investigation and prosecution, they could amount to crimes including fraudulent misrepresentation, obtaining money by false pretenses, identity theft, criminal conspiracy and forgery

The committee said it had found no valid act of the National Assembly, gazetted decree, presidential executive order, administrative instrument or other legitimate authority establishing the PFIPC.

He said no competent authority of the federal government has produced an authentic document proving that the organization was created, approved or authorized.

Lawmakers also said that several documents used to portray the organization as a government institution contained evidence of fabrication, forgery, mutilation and identity theft.

Among the documents examined was a purported Presidential Appointment Letter appointing Adeyemi as Director General and purportedly signed by the Chief of Staff to the President, Femi Gbajabiamila.

The State House, according to the commission, confirmed that this appointment was not made or approved by the Presidency and that Gbajabiamila neither issued nor signed the letter.

The committee further stated that the purported letterhead was not authentic State House letterhead, while the reference number, format, language and other administrative features were inconsistent with official correspondence.

Likewise, a purported approval for the creation of an organization described as the Presidential Economic Advisory Council was found not to have come from the Presidency, the State House or any relevant authority of the federal government, the committee said.

“Fake” Executive Order and National Assembly Act

Lawmakers also reviewed a document described as Presidential Executive Order No. 5, dated 24 February 2026.

According to the committee, available evidence indicated that the document was not a genuine executive order and was neither issued nor approved through legitimate presidential procedures.

Another document presented as an act of the National Assembly establishing the alleged organization was also found not to have been promulgated by Parliament, approved by both houses, approved by the President or published in the Official Journal, the commission said.

It also alleged that parts of a document relating to another institution appeared to have been electronically altered, mutilated or replaced to create the impression that the National Assembly had enacted the legislation establishing the organisation.

Alleged fake State House official

The investigation also uncovered a letter dated November 7, 2024, purportedly written from State House to the Office of the Accountant General of the Federation requesting an administrative code for the PFIPC.

The letter purportedly bore the name of one Akambi Adewale, described as the director of a purported directorate of the State House.

The State House, however, reportedly told the commission that the office and management did not exist in the manner represented and that no officer known as Akambi Adewale served in the purported position.

The committee said its investigation is ongoing and that further findings will depend on the reconciliation of financial records, business records, official documents and other evidence.

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