the House of Representatives has uncovered 12 unregistered agencies and 58 illicit bank accounts allegedly operated by the Director General of the Presidential Committee on Financial Intermediary and Protection Commission (PFIPC).
CDA News Nigeria gathered that the startling revelation came during an ongoing investigative hearing on financial irregularities and unauthorized government entities. Lawmakers established that these fraudulent agencies operated without legislative backing or approval from the Corporate Affairs Commission (CAC).
Furthermore, financial tracking revealed that the 58 accounts were actively used to siphon public funds under the guise of inter-agency transfers. Committee members described the scheme as a calculated attempt to undermine national revenue channels.
The ad-hoc committee has summoned the central bank authorities, anti-graft agencies, and key financial institutions to freeze all associated accounts immediately. The House assured citizens that it remains committed to enforcing accountability and eradicating illegal setups across government institutions
Editorial Standard: Source verification | Original reporting | Bylines | Attribution | Corrections | Editorial policy | Investigative journalism
All rights reserved ©2026 CDA News Nigeria. Contact: info@cdanews.ng | www.cdanews.ng | +2348030980314 | 348 Ikwerre Road, Port Harcourt, Rivers State.
