Reps Probe PFIPC Over 58 Bank Accounts and Alleged ₦400m Transaction

A House of Representatives panel investigating the purported Presidential Foreign Intervention Promotion Council (PFIPC) says preliminary findings linked its detained Director-General, Adeniyi Adeyemi, to about 58 bank accounts. More than 30 of the accounts were reportedly operated under the names of agencies, companies, foundations and related entities. The panel is also tracing an alleged ₦400 million payment said to have been made in four instalments by a company that believed it was funding work on Adeyemi’s claimed official residence. Investigators are examining the destination of the funds, account ownership and the status of the property involved. Lawmakers said they found no valid law, gazetted instrument or executive order establishing the PFIPC. They also cited alleged forged official documents and are investigating how the organisation obtained office space, presented itself as a federal body and recruited purported staff. The committee stressed that its findings are preliminary and do not establish criminal guilt. Its final report is expected to recommend action where the evidence supports it.

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