A 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 organization’s disputed Director-General, Adeniyi Adeyemi.
The preliminary findings were released in a report signed by the committee chairman, Yusuf Gagdi, following a legislative inquiry into the council’s inclusion in the 2026 Appropriation Bill despite significant doubts surrounding its legal creation.
According to the committee’s report, initial financial tracking revealed that more than 30 of the identified accounts were operated under the names of nine separate companies, foundations, and related entities, with additional accounts held under individual and variant names.
The panel noted that its findings do not establish that every identified account or transaction was illegal, adding that investigators are currently reconciling beneficial ownership records, registration documents, and transaction histories to determine legal liability.
The committee reported that its investigation found no evidence of an Act of the National Assembly or executive order establishing the council, nor any record indicating that the presidency issued an official appointment to Adeyemi.
Documentary submissions from the State House further indicated that Chief of Staff Femi Gbajabiamila did not sign or authorize the appointment letter presented by Adeyemi, showing instead that administrative steps were taken to prompt an investigation into the council’s activities.