House Panel: PFIPC Lacked Legal Basis, Forged Docs

An ad hoc committee of the House of Representatives has uncovered evidence suggesting the Presidential Foreign Intervention Promotion Council (PFIPC) operated without legal foundation, utilizing forged government documents and linking at least 58 bank accounts to its alleged director-general. The committee presented its preliminary findings on September 3, 2026, detailing how the purported agency allegedly gained legitimacy through fabricated presidential and legislative instruments. Investigators traced the financial activities to Adeniyi Adeyemi, who presented himself as the PFIPC's Director-General, and identified more than a dozen associated entities. Preliminary financial information indicated that over 30 of the 58 accounts were operated under the names of approximately nine agencies, companies, foundations, or related entities. The committee cautioned that it had not concluded that every identified account, entity, or transaction was unlawful, stating that it was still reconciling registration records, account mandates, beneficial ownership information, signatories, and transaction histories.