{"id":129279,"date":"2026-09-03T00:15:33","date_gmt":"2026-09-02T23:15:33","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=129279"},"modified":"2026-09-03T00:15:33","modified_gmt":"2026-09-02T23:15:33","slug":"pfipc-scandal-house-panel-clears-gbajabiamila-uncovers-58-bank-accounts-linked-to-adeyemi","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/pfipc-scandal-house-panel-clears-gbajabiamila-uncovers-58-bank-accounts-linked-to-adeyemi\/","title":{"rendered":"PFIPC Scandal: House Panel Clears Gbajabiamila, Uncovers 58 Bank Accounts Linked to Adeyemi"},"content":{"rendered":"
By Tracy Moses<\/strong><\/div>\n
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The House of Representatives Ad-Hoc Committee investigating the purported Presidential Foreign Intervention Promotion Council (PFIPC) has cleared Chief of Staff to the President, Femi Gbajabiamila, of allegations that he authorised, established or participated in the activities of the organisation, while uncovering a network of about 58 bank accounts allegedly linked to its detained Director-General, Prince Adeniyi Adeyemi.<\/p>\n

The committee also uncovered an alleged \u20a6400 million transaction involving a company which claimed it was induced by Adeyemi to make payments in four instalments after he allegedly represented that he could secure a contract for the renovation, furnishing or improvement of a purported official residence allocated to him in his claimed capacity as PFIPC Director-General.<\/p>\n

Chairman of the committee, Yusuf Gagdi, disclosed the findings on Wednesday in Abuja while presenting the panel\u2019s preliminary report on the circumstances surrounding the purported council and its inclusion in the Federal Budget Framework.<\/p>\n

The investigation followed a resolution of the House directing the committee to establish the legal status of PFIPC, determine how it came to be reflected in the Federal Budget Framework and examine any appropriation, administrative approval, financial release or government facility extended to the organisation.<\/p>\n

PFIPC Had No Legal Foundation<\/h3>\n

According to Gagdi, the committee\u2019s preliminary findings showed that PFIPC was never lawfully established by the Federal Government.<\/p>\n

He said the panel found no valid Act of the National Assembly, gazetted enactment, Presidential Executive Order or other lawful instrument establishing the purported council.<\/p>\n

\u201cNo competent authority of the Federal Government has produced any authentic record establishing that the organisation was created, approved or authorised by the President, Federal Executive Council, National Assembly, Office of the Secretary to the Government of the Federation or any other institution empowered by law to establish such an agency,\u201d Gagdi said.<\/p>\n

The committee also found that the organisation operated under inconsistent names, including the Presidential Foreign Intervention Promotion Council and the Presidential Economic Advisory Council.<\/p>\n

A major focus of the investigation was a purported presidential appointment letter presented as evidence that Adeyemi had been appointed Director-General of the council.<\/p>\n

Gagdi said evidence obtained from the State House established that the document was neither issued nor signed by Gbajabiamila.<\/p>\n

He said the purported letterhead, reference number, language and administrative features differed materially from authentic State House correspondence.<\/p>\n

\u201cThe Committee therefore preliminarily finds that the purported appointment letter was fabricated and falsely attributed to the Presidency,\u201d he said.<\/p>\n

The panel also uncovered a document presented as Presidential Executive Order No. 5, dated February 24, 2026, which was allegedly used to provide legal backing for PFIPC.<\/p>\n

According to Gagdi, the document was neither issued nor approved through the lawful processes of the Presidency.<\/p>\n

Similarly, the committee examined a document presented as an Act of the National Assembly establishing PFIPC and found that it had never been passed by both chambers, assented to by the President or gazetted as an Act of the Federation.<\/p>\n

The panel said portions of a document relating to another institution appeared to have been electronically altered, mutilated or substituted to create the impression that Parliament had enacted legislation establishing PFIPC or the purported Presidential Economic Advisory Council.<\/p>\n

Fake State House Correspondence<\/h3>\n

The committee also uncovered a letter dated November 7, 2024, purportedly emanating from the State House and requesting an administrative code for PFIPC.<\/p>\n

The letter was allegedly signed by one Akambi Adewale, described as Director, Administration and Support Services, for the Permanent Secretary.<\/p>\n

Gagdi said evidence from the State House showed that the office and directorate described in the letter did not exist in the stated form and that no State House official known as Akambi Adewale occupied the claimed position.<\/p>\n

The committee consequently raised questions about how a document purportedly originating from the Presidency found its way into the administrative machinery of government.<\/p>\n

It said the Office of the Accountant-General of the Federation had confirmed that its response to the purported State House request was authentic, but the committee was still examining how the response came to be released to an unauthorised person.<\/p>\n

The Budget Office of the Federation also came under scrutiny over the apparent recognition and budgetary treatment of an organisation which the committee found had no lawful basis for existence.<\/p>\n

Gagdi said the investigation had therefore expanded beyond PFIPC itself to the institutional weaknesses that allegedly allowed it to assume the appearance of a legitimate Federal Government agency.<\/p>\n

These included weaknesses in the verification of government institutions, creation of administrative and budget codes, authentication of official correspondence, allocation of government accommodation and processing of official-looking vehicle number plates.<\/p>\n

58 Bank Accounts Linked to Network<\/h3>\n

One of the committee\u2019s most significant discoveries was a financial network allegedly connected to Adeyemi.<\/p>\n

According to Gagdi, preliminary information obtained from financial and investigative institutions showed that the Bank Verification Number and other identifying details associated with Adeyemi were linked to approximately 58 bank accounts.<\/p>\n

More than 30 of the accounts appeared to have been operated in the names of about nine agencies, companies, foundations or related entities.<\/p>\n

The entities identified by the committee include the Confederation of United Nations Youths; FCT Investment Promotion Agency and Public-Private Partnership; FCT Investment Promotion Council and Public-Private Partnership; Foreign Investment Promotion Agency; United Nations Youth Global Agency; United Nations Youth Global Foundation; World United Nations Youth Global Foundation; World Entrepreneurship University Limited; World Enterprise University Limited; FCT Investment Promotion Act; FCT Promotion Agency; and Olubadan of Ibadan Foundation.<\/p>\n

Gagdi cautioned, however, against assuming that every account, entity or transaction identified by the committee was unlawful.<\/p>\n

He said the panel was still \u201creconciling registration records, account mandates, beneficial ownership information, signatories and transaction histories to establish the true nature and control of the organisations and accounts.\u201d<\/p>\n

The committee nevertheless identified what it described as \u201csimilarities in the nomenclature, objectives, management structures, signatories and banking relationships of several of the entities.\u201d<\/p>\n

According to Gagdi, the similarities raised concerns about a possible pattern of creating or deploying organisations to manufacture artificial credibility, solicit funds, obtain official recognition or induce members of the public to part with money.<\/p>\n

Alleged \u20a6400m Transaction<\/h3>\n

The committee is also investigating an alleged \u20a6400 million transaction involving a company which claimed it was induced by Adeyemi to make payments in four instalments.<\/p>\n

The company allegedly believed Adeyemi could secure a contract for the renovation, furnishing or improvement of a residence purportedly allocated to him as an official residence in his claimed capacity as PFIPC Director-General.<\/p>\n

Gagdi said the committee was tracing the destination of the funds, identifying the account holders and beneficial owners, and determining the ownership and status of the property involved.<\/p>\n

The investigation will also establish whether any public officer or private individual participated in, facilitated or benefited from the transaction.<\/p>\n

He said that, if established through competent investigative and judicial processes, the allegations could disclose offences including fraudulent misrepresentation, obtaining money by false pretence, impersonation, conspiracy, forgery and offences relating to the concealment or movement of proceeds of crime.<\/p>\n

Committee Clears Gbajabiamila<\/h3>\n

Despite the purported appointment letter bearing his alleged authority, the committee said it found no evidence linking Gbajabiamila to the creation or operation of PFIPC.<\/p>\n

Rather, the panel said documentary evidence showed that the Chief of Staff had taken steps to trigger investigations whenever concerns about the organisation were brought to his attention.<\/p>\n

Gagdi said an alert from the Nigerian Investment Promotion Commission over suspected fraudulent activities and misuse of institutional materials prompted Gbajabiamila to contact the Police, Office of the National Security Adviser, Department of State Services and Economic and Financial Crimes Commission.<\/p>\n

He also initiated administrative verification through relevant government institutions, the committee said.<\/p>\n

The panel said subsequent concerns, including those surrounding a proposed World Investment Summit, also prompted further communications seeking investigation and appropriate action.<\/p>\n

\u201cThe documentary evidence presently before the Committee does not establish that the Chief of Staff authorised, approved, established or participated in the activities of the purported organisation,\u201d Gagdi said.<\/p>\n

\u201cOn the contrary, the evidence demonstrates repeated steps to secure investigation, institutional verification and appropriate administrative action.\u201d<\/p>\n

The committee consequently commended Gbajabiamila \u201cfor the timely security and administrative interventions undertaken whenever the matter was formally brought to his attention.\u201d<\/p>\n

The panel also cleared the National Assembly committees responsible for budget scrutiny of culpability, but said the circumstances raised questions about how an entity without lawful establishment could secure apparent recognition and budgetary treatment within the Federal Government\u2019s administrative machinery.<\/p>\n

Government Identity Allegedly Appropriated<\/h3>\n

The committee said PFIPC reinforced its claim to legitimacy by occupying office accommodation within the Federal Secretariat Complex and maintaining a website portraying it as a Federal Government institution, complete with a purported vision, mission, organisational structure and staff hierarchy.<\/p>\n

It also found that the organisation allegedly used the names, offices and photographs of President Bola Ahmed Tinubu and other senior government officials without authorisation.<\/p>\n

The President was reportedly presented as chairman of the organisation\u2019s purported governing council, alongside the names and images of other senior officials.<\/p>\n

The committee said it found no evidence that the affected officials consented to, accepted or were even aware of their purported membership.<\/p>\n

About 39 people were also represented as employees of the purported organisation.<\/p>\n

The panel is investigating their recruitment, appointment letters, identity cards, remuneration and allegations that some prospective employees were required to make payments as a condition for employment.<\/p>\n

Gagdi said the committee would distinguish between individuals who were themselves deceived and those who knowingly participated in or benefited from the activities under investigation.<\/p>\n

The panel further alleged that misleading or fabricated documents were presented to the Federal Road Safety Corps, resulting in the processing of special number plates for vehicles associated with the purported organisation.<\/p>\n

Committee Seeks Stronger Safeguards<\/h3>\n

The committee recommended that Ministries, Departments and Agencies immediately refrain from recognising, transacting with or extending government privileges to PFIPC or any related organisation whose legal status has not been independently verified.<\/p>\n

It further recommended that \u201cno appropriation, administrative code, warrant, cash backing, financial release or governmental facility should be processed in favour of the purported organisation.\u201d<\/p>\n

The panel called for the preservation of financial, electronic and documentary evidence and urged relevant agencies to conclude criminal and financial investigations.<\/p>\n

It also recommended \u201cthe tracing, preservation, freezing and recovery of proceeds or assets derived from any established unlawful conduct, subject to applicable legal requirements and judicial authorisation where necessary.\u201d<\/p>\n

Among its institutional recommendations, the committee proposed enhanced authentication procedures for the creation of government institutions, administrative and budget codes, presidential correspondence and official appointments.<\/p>\n

It also called for the establishment or strengthening of a secure, centralised digital verification platform through which the lawful existence, establishing instrument and status of every Federal Government institution could be independently authenticated.<\/p>\n

The committee commended the Police, DSS, EFCC, Independent Corrupt Practices and Other Related Offences Commission and the Office of the National Security Adviser for their contributions to the investigation.<\/p>\n

Gagdi said the panel would continue examining the ownership and control of the identified accounts, the alleged \u20a6400 million transaction, the purported official residence, special number plates, government accommodation and the roles played by public officers and private individuals connected with the matter.<\/p>\n

He stressed that the findings presented on Wednesday were preliminary and did not amount to a final determination of criminal guilt.<\/p>\n

The committee will submit its final report to the House after completing the outstanding aspects of its investigation, with recommendations expected to cover possible legislative, administrative, disciplinary, civil, financial and prosecutorial action.<\/p>\n

Gagdi said the investigation was ultimately aimed at protecting the integrity of Nigeria\u2019s institutions and preventing private individuals or organisations from manufacturing governmental authority for personal advantage.<\/p>\n

\u201cThe Presidency cannot be impersonated with impunity,\u201d he said.<\/p>\n

\u201cThe identity, authority and instruments of the Federal Republic of Nigeria cannot be appropriated by any private individual or organisation for personal advantage.\u201d<\/p>\n

The committee chairman assured that the final report would contain definitive findings on individual and institutional responsibilities, subject to the decision of the House and due process of law.<\/p>\n

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