The House of Representatives ad hoc committee investigating the purported Presidential Foreign Intervention Promotion Council (PFIPC) has uncovered 58 bank accounts and 12 corporate entities linked to the organisation’s disputed Director-General, Adeniyi Adeyemi.
The preliminary findings were contained in a report signed by the committee’s chairman, Yusuf Gagdi, following its investigation into the inclusion of the council in the 2026 Appropriation Bill despite questions surrounding its legal status.
According to the report, preliminary financial tracking showed that more than 30 of the identified bank accounts were operated in the names of nine separate companies, foundations and related entities.
The committee said other accounts were held under individual names and different variations of the entities associated with Adeyemi.
However, the panel stressed that the discovery of the accounts and transactions did not automatically establish that they were illegal.
It said investigators were still reconciling beneficial ownership records, registration documents and transaction histories to determine the extent of legal liability.
The committee also reported that its investigation had found no evidence of an Act of the National Assembly or an executive order establishing the PFIPC.
It further said there was no record indicating that the Presidency had officially appointed Adeyemi as the council’s Director-General.
Documentary submissions from the State House reportedly showed that Chief of Staff to the President, Femi Gbajabiamila, did not sign or authorise the appointment letter presented by Adeyemi.
Instead, the documents indicated that administrative steps had been taken to trigger an investigation into the activities of the purported council.
The committee is expected to continue examining the financial records, corporate structures and documents linked to the PFIPC as part of its ongoing investigation.
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