Reporting by Daily Post indicates that the Office of the Accountant-General of the Federation (OAGF) has officially denied assertions that the controversial and disputed Presidential Foreign Intervention Promotion Council (PFIPC) opened or operated any legitimate account with the Central Bank of Nigeria. The formal disclaimer follows claims made by the self-acclaimed Director-General of the organization, Prince Adeniyi Adeyemi, who is currently at the center of a high-profile state fraud investigation.
The OAGF clarified that the purported administrative setup did not receive the statutory clearance required to establish financial ties with the apex bank. The presidency had previously flagged the council as an unauthorized entity that managed to mislead certain administrative personnel to project an aura of official state sanction.
The unfolding administrative scandal has prompted a deeper investigation into how the entity bypassed standard bureaucratic vetting procedures to engage with high-level civil servants. Law enforcement agencies have expanded their dragnet to ascertain if internal accomplices facilitated the creation of unauthorized documentation for the group.
The development has been closely tracked by investigative desks across the country. Premium Times reported that “police investigative briefs have exposed critical structural loopholes within the civil service that allowed the fake agency to operate.” Concurrently, The Nation stated that “the Central Bank has instituted an internal audit to verify that no public funds were funneled through any accounts linked to the fraudulent group.”
Echotitbits take: This bizarre “fake agency” scandal exposes uncomfortable vulnerabilities in the administrative security of the federal civil service. While the OAGF’s quick disavowal protects the state’s fiscal ledger, the fact that an individual could mimic a presidential council so effectively demands an urgent systemic audit of government clearance protocols.
Source: Premium Times – https://www.premiumtimesng.com/news/headlines/893006-how-fake-agency-dg-adeyemi-outsmarted-federal-officials-to-secure-cbn-accounts-office-space.html, July 7, 2026
Photo credit: Premium Times
