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 the organisation’s detained Director General, Prince Adeniyi Adeyemi, alongside an alleged N400 million transaction the panel said may have involved fraudulent representations.
The committee also identified more than 30 of the accounts as apparently operated in the names of about nine agencies, companies, foundations and related entities allegedly connected to Adeyemi.
The Chairman of the committee, Yusuf Gagdi, disclosed the findings on Wednesday while presenting the panel’s preliminary report on the circumstances surrounding the purported council’s inclusion in the Federal Budget Framework.
Gagdi said preliminary information obtained from financial and investigative institutions indicated that Adeyemi’s Bank Verification Number and other identifying details were linked to a network of personal, corporate, organisational and foundation accounts.
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Among the entities identified were 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 and United Nations Youth Global Agency.
Others included 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.
Gagdi, however, cautioned that the committee had not concluded that every account, organisation or transaction identified was unlawful.
He said the panel was still reconciling registration records, account mandates, beneficial ownership information, signatories and transaction histories to establish the true nature and control of the organisations.
The committee nevertheless identified similarities in the names, objectives, management structures, signatories and banking relationships of several entities, which it said raised questions about their possible use to create artificial credibility or solicit funds.
A major focus of the investigation is an alleged N400 million transaction involving a company that reportedly accused Adeyemi of inducing it to make payments in four instalments after allegedly claiming he could secure a contract involving the renovation, furnishing or improvement of an official residence purportedly allocated to him as PFIPC Director General.
Gagdi said the committee was tracing the funds, identifying account holders and beneficial owners, and determining whether any public or private individual participated in or benefited from the transaction.
He said that, if established through competent investigative and judicial processes, the allegations could constitute offences including fraudulent misrepresentation, obtaining money by false pretence, impersonation, conspiracy and forgery.
Beyond the financial trail, the committee said its investigation indicated that the purported PFIPC was never lawfully established.
Gagdi said the panel found no Act of the National Assembly, gazetted enactment, Presidential Executive Order or other lawful instrument creating the organisation.
He said documents used to establish or project the council’s authority contained evidence of alleged fabrication, forgery, mutilation, impersonation and unauthorised representation of government institutions and officials.
The committee specifically cited an alleged presidential appointment letter for Adeyemi, a purported Executive Order and a document presented as an Act of the National Assembly establishing the organisation.
According to Gagdi, evidence from the State House indicated that the purported appointment letter was neither issued nor signed by the Chief of Staff to the President, Femi Gbajabiamila.
The committee said the letterhead and reference number were also inconsistent with official State House correspondence.
It consequently exonerated Gbajabiamila from allegations of authorising or participating in the activities of the purported council.
“The 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,” Gagdi said.
He added that evidence before the committee showed that Gbajabiamila had instead communicated with relevant security and investigative agencies after receiving alerts concerning the organisation.
The panel also exonerated the National Assembly committees responsible for budget scrutiny from culpability, but raised questions over how an entity it said had not been lawfully established obtained apparent recognition and budgetary treatment within government machinery.
The committee said the purported council allegedly reinforced its claim to government legitimacy by occupying office accommodation within the Federal Secretariat Complex and operating a website portraying it as a federal institution.
It also alleged that the organisation used the names, offices and photographs of President Bola Tinubu and other senior government officials without authorisation.
About 39 people were allegedly represented as employees of the purported organisation, with the committee investigating their recruitment, appointment letters, identity cards, remuneration and allegations that some prospective employees were required to make payments as a condition for employment.
Gagdi said the committee had recommended that ministries, departments and agencies immediately refrain from recognising, transacting with or extending government privileges to the PFIPC or related entities whose legal status had not been independently verified.
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The panel also called for safeguards to ensure that no appropriation, administrative code, warrant, cash backing, financial release or government facility was processed for the purported organisation.
It further recommended the preservation of relevant bank records, transaction histories, account mandates and beneficial ownership information by financial and investigative agencies.
The committee called for the conclusion of criminal and financial investigations and said appropriate agencies should prosecute where sufficient admissible evidence was established.
It also recommended the tracing, preservation, freezing and recovery of assets derived from any established unlawful conduct, subject to applicable legal requirements and judicial authorisation where necessary.
The committee commended the Nigeria Police Force, Department of State Services, Economic and Financial Crimes Commission, Independent Corrupt Practices and Other Related Offences Commission and Office of the National Security Adviser for their roles in the investigation.
It further recommended enhanced verification procedures for the creation of government institutions, administrative and budget codes, as well as official correspondence purportedly emanating from the Presidency and other senior government offices.
