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I’ll cooperate with ICPC probe of PFIPC scandal – Embattled ‘DG’

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The acclaimed Director-General of the Presidential Foreign Intervention Promotion Council (PFIPC), Adeniyi Adeyemi, has said he is ready to cooperate with the Independent Corrupt Practices and Other Related Offences Commission in its investigation into the fictitious agency.

He stated this on Tuesday during an Instagram interview with social media personality VeryDarkMan, hours after President Bola Tinubu directed the ICPC to investigate the activities of the purported agency and all related matters, demanding a comprehensive report within 30 days.

Adeyemi also said he is  willing to hand over documents in his possession to security agencies to assist ongoing investigations into the controversy surrounding the body

He said, “I am willing and ready to help security agencies or any panel set up by Mr President to unravel the truth.

“In fact, any moment from now, I will go to the DSS or the police to submit all the documents I have to help them investigate and look into this matter.”

Adeyemi said he possessed documents he believed would assist investigators in uncovering the circumstances surrounding the council.

“They should authenticate them. They should verify them. They should unravel the truth,” he said.

During the interview, Adeyemi questioned how the council, which the Presidency insists does not exist, appeared in the national budget.

“When the Presidency, through the Chief of Staff, said the agency does not exist, I wondered how an agency that found its way into the national budget could suddenly be described as fake,” he said.

He added, “I was in detention for 23 days during the period the budget was being prepared. I did not prepare or defend any budget, and nobody went to defend it on my behalf. That is why I am confused about how the agency found its way into the national budget.”

On his allegations against the Chief of Staff to the President, Femi Gbajabiamila, Adeyemi said he preferred an independent investigation rather than making further accusations.

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“I wouldn’t say he’s lying, and I wouldn’t say he’s telling the truth. That is why I requested that Mr President set up an investigative panel to unravel the truth, so we will know those involved,” he said.

Adeyemi also claimed he was attacked by gunmen near Zuma Rock in September 2025 and reiterated that his involvement with the council was driven by a desire to attract foreign investment to Nigeria.

“I don’t really have a negative plan. It’s all about passion for the country. That agency is to bring foreign investors to Nigeria and make Nigeria a preferred destination for investment,” he said.

PUNCH Online reports that the Presidency has maintained that the Federal Government never established the council, while the ICPC has been directed to conclude its investigation and submit a report within 30 days.

Tinubu also directed the ICPC to investigate the forged appointment letters and official government documents allegedly used by Adeyemi to seek or obtain official recognition and diplomatic support, including visa facilitation, as well as the opening of multiple bank accounts in the names of purported government agencies using allegedly forged documents.

The directive comes after weeks of mounting public pressure from civil society organisations, opposition politicians and senior lawyers who demanded an independent inquiry into how the fictitious council operated from the Federal Secretariat Complex, opened accounts with the Central Bank of Nigeria, appeared in the 2026 Appropriation Act with an allocation of N1.3bn and engaged diplomatic missions, all without any enabling law or presidential instrument.

Human rights lawyer Femi Falana, who is representing Adeyemi, had questioned how the body found its way into the national budget even if the appointment letter was forged, and called for the ICPC to investigate both Adeyemi and Gbajabiamila.

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The Presidency had denied any connection between Gbajabiamila and the scheme, saying that forensic analysis by the police had confirmed the signature on the appointment letter was forged.

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North Is the biggest beneficiary of my economic reforms – Tinubu

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President Bola Tinubu has asserted that Northern Nigeria stands as the primary beneficiary of his administration’s economic reforms, maintaining that the removal of fuel subsidies rescued the nation from severe fiscal distress and redirected public funds toward critical infrastructure and productive sectors.

The President’s position was presented by the National Chairman of the All Progressives Congress (APC), Nentawe Yilwatda, who represented Tinubu on Tuesday at the second edition of the Policy Roundtable organized by the APC Professionals Forum in Abuja, titled The Asiwaju Scorecard Series.

Restating his administration’s economic trajectory, President Tinubu highlighted key macroeconomic indicators, noting that gross external reserves had reached approximately $52.7 billion by August 2026, while real Gross Domestic Product (GDP) grew by 4.43 percent in the second quarter of 2026 as inflation moderated toward 15.4 percent.

Linking these outcomes to the administration’s $1 trillion economy target by 2030, the President emphasized major infrastructure projects, including the Sokoto-Badagry Super Highway, the Lagos-Kano rail corridor, and the Ajaokuta-Kaduna-Kano (AKK) gas pipeline project—as transformative assets for the region.

“The biggest beneficiaries of this economy will be the Northern part of Nigeria, because they will now be trading with countries, trading with Niger, trading with Chad, trading with Burkina Faso, trading with Southern Sudan, trading with Northern Cameroon, trading with Central African Republic… The North is the next business destination of Nigeria,” the President stated.

The President’s claim, however, drew mixed reactions from prominent regional organizations.

The Arewa Consultative Forum (ACF) and the Middle Belt Forum (MBF) rejected the assessment, arguing that the economic policies have exacerbated poverty, inflation, and living costs across Northern communities.

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Conversely, the Northern Christian Association of Nigeria (CAN) endorsed the administration’s progress, maintaining that President Tinubu’s structural reforms and infrastructure distribution represent a clear improvement over previous administrative outputs.

Addressing campaign proposals ahead of the 2027 general elections, the APC leadership also criticized opposition pledges—including statements by African Democratic Congress (ADC) presidential candidate Atiku Abubakar—to reinstate fuel subsidies.

Dr. Isa Yuguda, Chairman of the Board of Trustees for the APC Professionals Forum, warned that returning to the former subsidy framework would risk reviving systemic financial leakages and undermine the fiscal foundation currently funding national student loans, border security, and regional transport infrastructure.

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AU to unveil African credit rating agency October 7

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The African Union has announced that the African Credit Rating Agency will be officially launched on October 7, 2026, in Port Louis, Mauritius, where the agency is headquartered.

The launch marks a major step in Africa’s efforts to strengthen its financial independence and address concerns over how the continent’s economies are assessed by global credit rating agencies.

The AU announced the launch on Wednesday in a post on its official X account, describing AfCRA as a landmark achievement for Africa’s financial sovereignty.

“For decades, skewed risk perceptions have forced African nations to pay an unfair ‘risk premium’ on global capital,” the AU said.

“The African Credit Rating Agency (AfCRA), headquartered in Mauritius, is created to rewrite that narrative with context-driven credit opinions for sovereign and corporate entities.”

In a video accompanying the announcement, the Union said African economies have historically been assessed within a global financial system that does not always fully reflect the continent’s economic realities, resilience and growth potential.

“AfCRA is our response. A bold assertion of African agency, financial sovereignty and institutional confidence,” the AU said.

“It is a powerful answer to the pessimism that too often defines perceptions of Africa.”

The agency is intended to provide an alternative African perspective to the dominant global rating agencies, including Fitch Ratings, Moody’s Ratings and S&P Global Ratings.

The initiative comes amid long-standing concerns among African governments and policymakers about the way sovereign credit risks are assessed and priced by international agencies.

Countries including Ghana and Zambia have argued that repeated credit downgrades have contributed to higher borrowing costs and worsened their debt challenges.

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The African Peer Review Mechanism (APRM) has also criticised Fitch Ratings over its downgrade of the African Export-Import Bank, alleging that the assessment reflected a misunderstanding of African financial institutions.

Fitch has defended its approach, maintaining that its ratings are based on globally consistent and transparent criteria.

AfCRA was initially scheduled to launch in September 2025 but was delayed. To protect its credibility and independence, the agency will not be owned by African governments.

It is also expected to focus primarily on ratings for local-currency debt instruments.

The AU said the agency would demonstrate Africa’s capacity to build its own institutions, shape its own economic narrative and exercise greater control over its financial future.

The October 7 launch in Mauritius is expected to draw attention as African countries seek to reshape perceptions of the continent’s creditworthiness and reduce the impact of what they view as unfair risk assessments in global capital markets.

Source: punchng.com

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NDA releases admission list for 78 regular combatant course

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The Nigerian Defence Academy has released the list of successful and reserve candidates for admission into the 78 Regular Combatant Course (78RC).

The Armed Forces Selection Board exercise for the 78 Regular Course was conducted from July 4 to August 19, 2026, with successful candidates offered admission into the Academy.

According to the NDA in a statement signed by the Academy Registrar, Brigadier General OA Ogunleye on its X handle on Wednesday, successful candidates are expected to report to the NDA Ribadu Campus (Old Site), Kaduna, on Saturday, September 12, 2026.

The Academy warned that any candidate who fails to report by Monday, September 14, 2026, “will forfeit his or her place.”

It added that only selected candidates are expected to report to the Academy, where they will be received at the Drill Shed, NDA Old Site, Ribadu Cantonment.

The NDA said candidates on the reserve list “may be called as the need arises through their registered e-mails and phone numbers.”

Successful candidates have also been directed to present the original copies of their credentials, including their First School Leaving Certificate, Primary School Testimonial, WAEC/NECO results, Senior Secondary School Testimonial, Birth Certificate or Declaration of Age, and Letter of State of Origin.

The Academy stressed that candidates must also present the “original copy of duly endorsed Parent/Guardian Consent Form,” warning that photocopies would not be accepted.

“Any candidate who fails to present originals of the stated documents will not be accepted into the Academy,” the notice stated.

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In addition to their credentials, successful candidates are required to come with specified clothing, footwear, sportswear, bedding and personal items, including black and white trousers, a dark-coloured lounge suit, national dress, black cover shoes, white and brown canvas shoes, football boots, a hockey stick, white shirts, socks, bed sheets and a pressing iron.

Female candidates are also required to bring black low-heel cover shoes, dark-coloured lounge skirts, black or blue short tights and trouser suits.

The NDA further directed all selected candidates to upload their O’Level results on the JAMB portal before reporting to the Academy.

Candidates who were not offered their preferred academic department are required to log into the JAMB portal to effect the necessary change.

The Academy also instructed all selected candidates to accept their admission through the JAMB Central Admissions Processing System (CAPS) before reporting.

The NDA warned that selected candidates would not be allowed to receive visitors or leave the Academy during the first three months of training.

“Selected candidates and their parents are to please note the above for strict compliance,” the notice stated.

Source: punchng.com

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