The report exposes a major governance controversy in Nigeria involving a supposed fake Presidential Foreign Intervention Promotion Council (PFIPC) and Presidential Economic Advisory Council allegedly linked to Adeniyi Adeyemi.

According to federal authorities, Adeyemi was accused of falsely presenting himself as the Director-General of non-existent agencies that were reportedly linked to budgetary provisions amounting to about N1.4 billion.

The situation has raised serious concerns about how such an entity could appear within official budget frameworks and even attract staff deployments from government offices like the Office of the Accountant General of the Federation.

Former NERC chairman, Sam Amadi, described the situation as evidence of deep insider compromise within government structures, suggesting that fraudulent actors may have exploited weaknesses in Nigeria’s budget process.

He argued that the case reflects not just individual wrongdoing but systemic failure in oversight, especially by the National Assembly during budget approval processes.

Other experts, including Ayo Teriba, urged that law enforcement agencies such as the police should be allowed to fully investigate the matter without interference.

BudgIT’s country director, Vahyala Kwaga, also highlighted that the scandal confirms long-standing concerns about lack of transparency and accountability in Nigeria’s public finance system.He stressed that multiple layers of oversight across ministries, budget offices, and executive institutions appear to have failed.

He further claimed that institutional weakness has allowed opportunities for payroll fraud, questionable hiring practices, and broader misuse of public funds.

The Economic and Financial Crimes Commission (EFCC) reportedly stated that it had not yet formally received the case for investigation at the time of reporting.

Meanwhile, international financial observers, including the IMF, have previously warned about gaps in Nigeria’s fiscal transparency, noting that off-budget spending and incomplete reporting distort the true scale of public finances.

Despite the allegations, Adeniyi Adeyemi has denied any wrongdoing, insisting his appointment was officially approved by senior government authorities.