PFIPC scandal: Reps uncover 58 accounts, probe N400m transaction

The House of Representatives committee investigating the purported Presidential Foreign Intervention Promotion Council has uncovered 58 bank accounts allegedly connected to the organisation’s detained Director-General, Prince Adeniyi Adeyemi.

The panel also identified an alleged N400 million transaction involving a company that claimed Adeyemi obtained the money from it through representations that he could secure a contract relating to a purported official residence.

Chairman of the ad hoc committee, Yusuf Gagdi, disclosed the findings on Wednesday while presenting the panel’s preliminary report to parliamentary correspondents in Abuja.

Gagdi said financial and investigative records obtained by the committee showed that Adeyemi’s Bank Verification Number and other identification details were linked to personal, corporate, organisational and foundation accounts.

He said more than 30 of the 58 accounts appeared to have been operated in the names of about nine agencies, companies, foundations or related entities allegedly connected to Adeyemi.

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 and World Entrepreneurship University Limited.

Others include World Enterprise University Limited, FCT Promotion Agency and Olubadan of Ibadan Foundation.

The committee, however, cautioned that the discovery did not automatically establish that the accounts, entities or transactions were illegal.

Gagdi said the panel was still examining registration documents, account mandates, beneficial ownership records, signatories and transaction histories to determine who controlled the organisations and accounts.

He said similarities in the names, objectives, management structures, signatories and banking relationships of several entities had nevertheless raised concerns that some organisations may have been created or used to give an appearance of legitimacy, secure official recognition or solicit money from unsuspecting members of the public.

The alleged N400 million transaction has also become a major focus of the investigation.

According to Gagdi, a company alleged that Adeyemi persuaded it to make payments in four instalments after claiming he could facilitate a contract for the renovation, furnishing or improvement of an official residence purportedly allocated to him as PFIPC director-general.

The committee is now tracing the money and investigating the account holders, beneficial owners and anyone who may have facilitated or benefited from the transaction.

Gagdi said the allegations, if established by investigators and subsequently proven in court, could amount to offences including obtaining money by false pretence, fraudulent misrepresentation, impersonation, conspiracy and forgery.

The panel also questioned the legal foundation of the purported PFIPC, saying its investigation had found no Act of the National Assembly, gazetted law, presidential executive order or other lawful instrument establishing the council.

According to the chairman, documents used to present the organisation as a government institution showed evidence of alleged fabrication, forgery, mutilation, impersonation and unauthorised representation of public institutions and officials.

Among the documents under scrutiny are a purported presidential appointment letter for Adeyemi, an alleged Executive Order and a document presented as an Act of the National Assembly establishing the organisation.

Gagdi said evidence obtained from the State House showed 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 on the document did not correspond with official State House correspondence.

It consequently cleared Gbajabiamila of allegations that he authorised, established or participated in the activities of the purported council.

The panel said evidence showed that the Chief of Staff alerted relevant security and investigative agencies, including the police, Office of the National Security Adviser, Department of State Services and Economic and Financial Crimes Commission, after receiving information about the organisation.

The committee also cleared the National Assembly committees responsible for budget scrutiny of culpability, but raised concerns over how an organisation it said had not been lawfully established obtained apparent recognition and budgetary treatment within government systems.

Gagdi said the case exposed weaknesses in the verification of government institutions, creation of administrative and budget codes, authentication of official correspondence, allocation of government accommodation and issuance of official-looking vehicle number plates.

The purported council allegedly occupied office space within the Federal Secretariat Complex and operated a website portraying it as a Federal Government institution.

The committee further found that the organisation allegedly used the names, photographs and offices of President Bola Tinubu and other senior government officials without authorisation.

It also identified about 39 people allegedly presented as employees of the organisation. Their recruitment, appointment letters, identity cards, remuneration and claims that prospective employees were asked to pay money for employment are being investigated.

The panel recommended that government ministries, departments and agencies stop recognising or transacting with the purported PFIPC or granting it government privileges until its legal status is independently verified.

It also urged relevant authorities to ensure that no appropriation, budget code, financial release, cash backing or government facility is processed for the organisation.

Financial institutions and investigative agencies were asked to preserve relevant account records, transaction histories, account mandates and beneficial ownership information connected to the persons and entities under investigation.

The committee also called for criminal and financial investigations to be concluded promptly and for any assets or proceeds established to have been derived from unlawful conduct to be traced, preserved, frozen and recovered in accordance with the law.

Gagdi said the panel would continue investigating the ownership and control of the accounts, the N400 million transaction, the purported official residence, vehicle number plates, government accommodation and the roles of public and private individuals linked to the matter.

He stressed that the report presented on Wednesday was preliminary and did not amount to a judicial determination of criminal guilt.

According to him, affected persons would be given an opportunity to respond before the committee reaches definitive conclusions.

The final report will be presented to the House after lawmakers return from their two-month annual recess, when members will decide whether to adopt, amend or reject the findings and recommendations.

Gagdi said the investigation was ultimately aimed at protecting the integrity of government institutions and preventing individuals or private organisations from falsely assuming government authority.

“The Presidency cannot be impersonated with impunity,” he said.