President Bola Ahmed Tinubu government is defined by duplicity from its inception to the time it is winding up, analysts claim, however the scandalous Presidential Foreign Investment Promotion Council (PFIPC) and its shoddy investigation by the authorities which shield government officials and hounds its Director General, Adeniyi Adeyemi, is said to be a high profile corruption example of the regime
By Our Correspondent
Expectedly, the House of Representatives Ad Hoc Committee investigating the controversial Presidential Foreign Intervention Promotion Council (PFIPC), did not shock many Nigerians when in its report it exonerated the Chief of Staff (CoS) to the President, Femi Gbajabiamila, from allegations that he authorised, established or participated in the activities of the purported government agency.
The Committee which was chaired by Hon. Yusuf Adamu Gagdi, said its preliminary findings showed that the organisation was not lawfully created by the Federal Government and that documents allegedly used to confer presidential and legislative legitimacy on it were forged, fabricated or altered.
A significance aspect of the Committee’s report is that it found that a purported letter appointing Prince Adeniyi Adeyemi as the Director-General of the PFIPC and allegedly bearing Gbajabiamila’s authority and signature was not issued by the Chief of Staff or the Presidency.
According to the Committee, evidence obtained from the State House established that “no such appointment was made or approved by the Presidency” and that “the Chief of Staff neither issued nor signed the letter.”
The lawmakers further found that the letterhead was not authentic State House letterhead, while the purported reference number was inconsistent with the official referencing system of the Presidency.
The Committee noted, “The format, language and administrative features of the document departed materially from official State House correspondence”.
It consequently made a preliminary finding that “the purported appointment letter was fabricated and falsely attributed to the Presidency.”
The finding effectively clears Gbajabiamila of the allegation, as the Committee said it found no evidence linking him to the purported appointment or organisation.
Rather than finding evidence linking the Chief of Staff to the alleged scheme, the Committee said documents before it showed that Gbajabiamila had taken steps to trigger investigations into the organisation when concerns were brought to his attention.
It said that following an alert from the Nigerian Investment Promotion Commission (NIPC), over suspected fraudulent activities and misuse of institutional materials, Gbajabiamila acted within one day by communicating with security and investigative agencies.
The agencies included the Nigeria Police Force (NPF), Office of the National Security Adviser (ONSA), Department of State Service (DSS), and Economic and Financial Crimes Commission (EFCC).
The Committee said he also initiated administrative verification through relevant government institutions.
The Committee said it uncovered a purported Presidential Executive Order No. 5, dated February 24, 2026, which was allegedly used to provide legal authority for the organisation.
The lawmakers, however, said evidence before them indicated that the document was neither issued nor approved through lawful presidential processes. “The evidence presently available indicates that the document was not an authentic Executive Order of the President and was neither issued nor approved through the lawful processes of the Presidency,” the Committee said.
Another major discovery involved a network of bank accounts allegedly linked to Prince Adeyemi, who also appeared in some records as Adeyemi Matthew.
The Committee said preliminary financial information indicated that identifying details associated with Adeyemi were linked to approximately 58 bank accounts, with more than 30 apparently operated in the names of various agencies, companies, foundations or related entities.
The lawmakers also disclosed an allegation involving approximately N400 million allegedly paid by a company to Adeyemi in four instalments.
The company claimed it was induced to make the payments after being promised a contract involving the renovation, furnishing or improvement of a residence purportedly allocated to Adeyemi in his claimed official capacity.
The Committee recommended that security and anti-corruption agencies conclude their investigations and prosecute anyone against whom sufficient admissible evidence is established. But pertinent questions are being asked by Nigerians including how a fake agency can operate 58 bank accounts without anybody’s knowledge.
There is also the issue of who funded those accounts? But the most painful aspect of the investigation is that both Gbajabiamila and Adeyemi who had earlier traded blames were never invited by the House of representatives Committee for formal interrogation. Hence, many asked, how can you shave a man’s hair in his absence? This question comes against the backdrop that prince Adeyemi has been ready to appear before the relevant authorities who investigated the PFIPC saga. He claimed that he has his own side of the story which can indict government officials.
Unfortunately, Nigerians have been barred from hearing from the mouth of prince Adeyemi and his alleged accomplice, Gbajabiamila.
