Fake Presidential Council: House of Reps Report Clears Femi Gbajabiamila, Exposes 58 Illegal Bank Accounts

ABUJA, Nigeria—A House of Representatives investigative report has completely cleared the Presidency and Chief of Staff, Femi Gbajabiamila, of any links to the fraudulent Presidential Foreign Investment Promotion Council (PFIPC).

The sweeping legislative report, released on Wednesday, exposed a massive web of deception, linking the fake council to over 58 illegal bank accounts and 12 unauthorized government agencies and entities.

The Genesis of the Fraud Matrix

The discovery of the PFIPC’s illicit dealings previously triggered a direct presidential order for a comprehensive forensic audit of all government ministries, departments, and agencies (MDAs).

The executive crackdown successfully led to the arrest of the alleged mastermind behind the fake council, Adeniyi Adeyemi.

While the executive-led forensic panel continues to uncover other rogue entities across the bureaucracy, the House of Representatives simultaneously launched its own independent probe.

Key Findings from the Gagdi-Led Committee

The preliminary findings were presented on Wednesday by the House Ad Hoc Committee, chaired by Representative Yusuf Gagdi. The committee’s report painted a staggering picture of institutional infiltration.

According to the report, the committee uncovered the 58 bank accounts and 12 compromised entities through rigorous, painstaking tracking of financial intelligence and transaction records, formal submissions and documents tendered by financial institutions, and direct testimonies from high-profile individuals summoned during the investigative hearings.

Gbajabiamila and Presidency Exonerated

The legislative inquiry was originally sparked by lawmakers who challenged the legal status of the PFIPC, asserting that the body operated entirely outside the boundaries of constitutional approval and legislative oversight.

A central focus of the investigation was the appointment of the council’s head. The mastermind, Adeniyi Adeyemi, had repeatedly claimed that his appointment letter was issued directly by the Office of the Chief of Staff to the President.

However, the Gagdi-led committee’s findings have officially debunked these claims, explicitly clearing Chief of Staff Femi Gbajabiamila and the Presidency of any culpability or involvement in the scam.