The Presidency has consistently maintained that the PFIPC does not exist and has accused Adeyemi of falsely presenting himself as its Director-General. However, the matter has continued to generate public debate following reports that a council bearing the same or a similar name appeared in the 2026 Appropriation Act.
Speaking on the development, Senior Special Assistant to the President on Media and Publicity, Temitope Ajayi, said investigators from the Department of State Services (DSS), the Nigeria Police Force and the Economic and Financial Crimes Commission (EFCC) should identify and prosecute any government officials who may have assisted Adeyemi.
According to Ajayi, investigators must determine how forged appointment letters were allegedly produced, how dozens of bank accounts linked to the purported agency were opened, and how the organisation was able to interact with government institutions.
He described Adeyemi as a fraud suspect who allegedly exploited public perceptions to deflect attention from the criminal charges against him.
Ajayi added that officials of the Nigerian Investment Promotion Commission (NIPC) and the Ministry of Foreign Affairs reportedly detected irregularities surrounding the activities of the alleged council and reported the matter to the appropriate authorities.
The Presidency also noted that Adeyemi had already been arraigned before the Federal High Court in Abuja on an eight-count charge bordering on fraud and forgery and is expected to return to court on July 27.
Meanwhile, the Kwankwasiyya Movement has called for a full public explanation over reports that more than ₦1 billion was allocated to an entity bearing the same or a similar name in the 2026 budget.
In a statement signed by its spokesperson, Dr. Habibu Sale Mohammed, the group questioned how the council allegedly appeared in the national budget if it never existed.
The movement asked who proposed and approved the allocation, whether any public funds were released, and how the alleged agency operated within government circles for an extended period.
It urged the National Assembly and anti-corruption agencies to conduct an independent investigation, describing the matter as one of public accountability.
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