The House of Representatives Ad-Hoc Committee investigating the purported Presidential Foreign Intervention Promotion Council (PFIPC) has uncovered about 58 bank accounts allegedly linked to its detained Director-General, Prince Adeniyi Adeyemi, alongside an alleged N400 million transaction now under investigation.
The committee said more than 30 of the accounts appeared to have been operated in the names of about nine agencies, companies, foundations and related entities allegedly connected to Adeyemi, raising questions about their ownership, control and operations.
Chairman of the committee, Yusuf Gagdi, disclosed the findings on Wednesday while presenting the panel’s preliminary report on the circumstances surrounding the inclusion of the purported council in the Federal Budget Framework.
Gagdi said preliminary information obtained from financial and investigative institutions showed that Adeyemi’s Bank Verification Number and other identifying details were linked to a network of personal, corporate, organisational and foundation accounts.
Among the entities identified were the Confederation of United Nations Youths, FCT Investment Promotion Agency and Public-Private Partnership, Foreign Investment Promotion Agency, United Nations Youth Global Agency, United Nations Youth Global Foundation, World Entrepreneurship University Limited and World Enterprise University Limited.
Others include the FCT Investment Promotion Act, FCT Promotion Agency and Olubadan of Ibadan Foundation.
The chairman, however, stressed that the committee had not concluded that every account, entity or transaction identified was unlawful.
He said the panel was still reconciling registration records, account mandates, beneficial ownership details, signatories and transaction histories to establish the true ownership and control of the organisations and accounts.
According to Gagdi, similarities in the names, objectives, management structures, signatories and banking relationships of several entities had raised concerns about a possible pattern of creating or deploying organisations to project artificial credibility, solicit funds, obtain official recognition or induce members of the public to make payments.
N400m Transaction Under Investigation
The committee also drew attention to an alleged N400 million transaction involving a company that reportedly accused Adeyemi of inducing it to make payments in four instalments.
According to the allegation, Adeyemi 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.
Gagdi said the committee was tracing the funds, identifying account holders and beneficial owners, and determining whether any public officer or private individual participated in, facilitated or benefited from the transaction.
He noted that, if established through competent investigative and judicial processes, the allegations could potentially involve offences such as fraudulent misrepresentation, obtaining money by false pretence, impersonation, conspiracy and forgery, as well as offences relating to the concealment or movement of proceeds of crime.
Committee Questions Legality of PFIPC
Beyond the financial investigation, the committee said it found no evidence of a lawfully enacted instrument establishing the purported council.
Gagdi said investigators found no Act of the National Assembly, gazetted enactment, Presidential Executive Order or other lawful instrument creating the organisation.
He further alleged that documents used to establish or project the authority of the PFIPC contained evidence of possible fabrication, forgery, mutilation, impersonation and unauthorised representation of public institutions and government officials.
Among the documents under scrutiny are a purported presidential appointment letter for Adeyemi, a purported Executive Order and a document presented as an Act of the National Assembly establishing the organisation.
Evidence obtained from the State House, Gagdi said, indicated that the purported appointment letter was neither issued nor signed by the Chief of Staff to the President, Femi Gbajabiamila. The committee also said the letterhead and reference number were inconsistent with official State House correspondence.
Gbajabiamila Exonerated
The committee consequently exonerated Gbajabiamila from allegations that he authorised, established or participated in the activities of the purported council.
Gagdi said the evidence before the panel showed that the Chief of Staff instead contacted relevant security and investigative agencies after receiving alerts concerning the organisation.
The committee also exonerated the National Assembly committees responsible for budget scrutiny from culpability.
The panel said the central question was how an organisation that had allegedly not been lawfully established was able to obtain apparent recognition and receive budgetary treatment within the Federal Government’s administrative system.
39 People Allegedly Presented as Employees
The committee also said about 39 individuals had been presented as employees of the purported organisation.
It is investigating their recruitment, appointment letters, identification cards, remuneration and allegations that some prospective employees were required to make payments as a condition for employment.
The purported council allegedly reinforced its claim to governmental legitimacy by occupying office space within the Federal Secretariat Complex and operating a website portraying it as a federal institution.
The committee also said the organisation used the names, offices and photographs of President Bola Tinubu and other senior government officials without authorisation.
Reps Demand Investigation, Asset Tracing
Gagdi said the committee recommended that all Ministries, Departments and Agencies immediately stop recognising or transacting with the PFIPC or any related entity whose legal status had not been independently verified.
The panel also urged government agencies to ensure that no appropriation, administrative code, warrant, cash backing, financial release or government facility was processed in favour of the purported organisation.
Financial institutions and investigative agencies were asked to preserve relevant account records, transaction histories, mandates and beneficial ownership information.
The committee further called for the prompt conclusion of criminal and financial investigations and recommended that any assets or proceeds linked to established unlawful conduct be traced, preserved, frozen and recovered in accordance with the law.
Gagdi said the alleged N400 million transaction should undergo a separate and comprehensive investigation.
He added that the committee would continue examining the identified accounts, the alleged transaction, the purported official residence, special number plates, government accommodation and the roles of public officials and private individuals connected to the matter.
The chairman emphasised that the findings presented were preliminary and did not amount to a final determination of criminal guilt, which remains the responsibility of courts of competent jurisdiction.
He said the committee’s final report would be submitted to the House after its two-month annual recess for lawmakers to consider, debate, amend, adopt or reject.
Gagdi said the investigation was ultimately aimed at protecting the integrity of Nigeria’s institutions and preventing individuals or organisations from unlawfully assuming governmental authority.
“The Presidency cannot be impersonated with impunity,” he said.
The committee said its final report would contain definitive findings, identify institutional and individual responsibilities, and recommend appropriate legislative, administrative, disciplinary, civil, financial and prosecutorial action, subject to due process.
Comments