ABUJA — The House of Representatives committee investigating the controversial Presidential Foreign Intervention Promotion Council (PFIPC) says it has identified about 58 bank accounts allegedly linked to Adeniyi Adeyemi, who presented himself as the organisation’s Director-General.
The discovery is contained in the committee’s preliminary report released on Wednesday, September 2, 2026, following weeks of investigation into how the purported agency operated within government circles and appeared in Nigeria’s 2026 budget framework.
58 accounts identified
According to the committee, financial and investigative information showed that Adeyemi’s Bank Verification Number (BVN) and other identifying details were connected to approximately 58 accounts.
More than 30 of the accounts were reportedly operated under the names of about nine companies, foundations, agencies or related organisations, while other accounts were associated with personal or alternative names.
The panel said Adeyemi may have connections, directly or indirectly, to more than 12 entities. Investigators are now examining the ownership and control of the organisations, as well as their financial activities.
Among the entities identified in the report are organisations carrying names such as Confederation of United Nations Youths, Foreign Investment Promotion Agency, United Nations Youth Global Foundation, World Entrepreneurship University Limited and the Olubadan of Ibadan Foundation.
₦400 million transaction under investigation
The committee also highlighted an alleged ₦400 million transaction involving a company that said it paid money after Adeyemi allegedly represented himself as a government official capable of securing a government-related contract.
According to the panel, the company said the money was connected to a proposed contract involving the renovation, furnishing or improvement of a residence allegedly allocated to Adeyemi in his claimed official capacity.
The committee said it is tracing the movement of the money and investigating the identities of the account holders and beneficial owners involved.
Importantly, the committee stressed that its findings are preliminary. It has not concluded that every account, organisation or transaction identified was illegal.
Questions over the existence of PFIPC
The bank-account discovery forms part of a much wider investigation into the PFIPC.
The House panel said it found no valid Act of the National Assembly or presidential order establishing the council. It also said evidence from the State House did not support the claim that President Bola Tinubu appointed Adeyemi as the organisation’s Director-General.
The investigation also uncovered documents that the committee said were forged, fabricated or altered to make the purported organisation appear to have official government backing.
Gbajabiamila cleared by panel
The committee also addressed allegations involving Femi Gbajabiamila, the President’s Chief of Staff.
After examining the evidence presented to it, the panel said it found no evidence that Gbajabiamila authorised, established or participated in the activities of the purported agency.
Instead, the committee said available evidence indicated that he took steps against the organisation after concerns were raised about its activities.
Investigation continues
The House committee said it will continue examining bank records, corporate registration documents, account mandates, beneficial ownership information and transaction histories.
The final report is expected to determine whether individuals or institutions should face administrative, civil, financial or criminal action.
For now, the 58-account discovery remains an allegation contained in a preliminary parliamentary investigation and should not be treated as proof of criminal guilt. Any criminal liability would ultimately have to be established through the appropriate legal process.
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