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The Federal Ministry of Foreign Affairs on Tuesday told the House of Representatives that it never recognised or engaged with the controversial Presidential Foreign Investment Promotion Council (PFIPC), revealing that security checks had established that Adeniyi Adeyemi, the council’s alleged Director-General, was unknown to the Federal Government.

The position was presented by Dunoma Ahmed, the Permanent Secretary of the Ministry, who represented Bianca Odumegwu-Ojukwu, the Minister of Foreign Affairs, at the hearing of the House Ad-Hoc Committee probing the unestablished Presidential Foreign Investment Promotion Council (PFIPC), chaired by Yusuf Gagdi.

Ahmed told lawmakers that Prince Adeyemi, who introduced himself as Director-General of both the Presidential Economic Advisory Council (PEAC) and the Presidential Foreign Investment Promotion Council (PFIPC), wrote to the Ministry on June 26, 2025, August 5, 2025 and June 5, 2026, requesting its support to organise a World Investment Summit in Nigeria.

According to him, the Ministry rejected all three requests after conducting due diligence, citing inconsistencies in the documents submitted and doubts over the legitimacy of both the council and its purported leadership.

The Permanent Secretary explained that ‘the Ministry subsequently sought clarification from the Office of the National Security Adviser (ONSA) through a letter dated October 16, 2025 on the status of Prince Adeyemi as Director-General of the PFIPC.

‘ONSA responded on November 26, 2025, stating that enquiries made through the Office of the Secretary to the Government of the Federation and the Office of the Chief of Staff to the President showed that Prince Adeniyi Adeyemi was not known to any arm of the Federal Government.’

Ahmed further stated that ‘the Ministry never participated in any bilateral or multilateral engagement involving the PFIPC, nor did it facilitate foreign investors, international partners or delegations on behalf of the council.’

He added that no Memorandum of Understanding, treaty or investment agreement had ever been executed through the PFIPC, while Nigerian missions abroad had no dealings with the council because the Ministry never recognised or authorised its operations.

He said the Ministry had no records concerning the PFIPC beyond the correspondence already submitted to the committee and maintained that it never collaborated with or officially acknowledged the council or its alleged Director-General.

The disclosures prompted concern from the committee chairman, Yusuf Gagdi, who questioned why stronger action was not taken after the National Security Adviser reportedly established in November 2025 that both the council and its alleged Director-General were not recognised by the Federal Government.

The committee thereafter invited Nuhu Ribadu, the National Security Adviser, to appear before it on Thursday at noon to explain the steps taken after his office confirmed that the PFIPC was not a lawful government institution.

Lawmakers also maintained that Foreign Affairs Minister Odumegwu-Ojukwu must personally appear before the committee to provide additional explanations arising from the Ministry’s submissions.

Explaining the decision, Gagdi said the panel wanted to determine what action the nation’s security apparatus took after concerns were raised about the authenticity of the organisation.

‘It is now the duty of the Committee to move further and invite the Office of the National Security Adviser to come and answer the very important question raised by Honourable Abubakar Fulata that the Ministry of Foreign Affairs received a letter from this agency under investigation, whether it exists or it doesn’t exist.

‘What have you done as an office that has the power and capacity to carry out further investigation in respect of this matter? He is to appear before this Committee because the Ministry of Foreign Affairs received correspondence from the suspended Director-General and suspected foul play and discrepancies.

‘The NSA responded that it is an illegal agency. What has the Office of the National Security Adviser done as a security institution after that discovery?

‘If they discovered that the agency does not exist, then appropriate action ought to have been taken. They should come before this Committee and explain the actions they have taken.’

As smartphones become the primary gateway to the internet for millions of people, cybersecurity experts are warning that users are failing to adopt security practices that match the growing volume of sensitive personal and financial information stored on their devices.

A new global survey by cybersecurity company Kaspersky found out that 58 percent of respondents now use smartphones as their main device for accessing the internet which is overtaking personal computers.

The trend is even more pronounced among Generation Z users aged between 18 and 28, with 67 percent relying primarily on smartphones for their online activities.

The findings reveal a widening gap between smartphone usage and cybersecurity preparedness, as mobile devices store banking details, passwords, work documents, personal photographs and health information.

According to the survey, despite recognising the importance of their smartphones, many users continue to neglect basic security measures.

While respondents expressed concerns about losing access to personal data, cybersecurity practices such as enabling multi-factor authentication, installing security software, updating operating systems and reviewing application permissions remain inconsistent.

Kaspersky said smartphones have evolved from communication devices into digital wallets and productivity hubs which makes them attractive targets for cybercriminals seeking to steal credentials, financial information and other sensitive data.

‘People now trust smartphones with nearly every aspect of their digital lives, yet many still underestimate the security risks that come with that convenience,’ it said.

The warning comes as cyber threats targeting mobile devices continue to increase globally. Kaspersky previously reported a 29 percent year-on-year increase in attacks against Android smartphone users during the first half of 2025, driven by malware, malicious applications and sophisticated phishing campaigns.

The latest survey also aligns with broader industry concerns over rising cybercrime. A separate Kaspersky study found out more than half of internet users worldwide experienced online fraud in the past year, while 45 percent encountered device attacks, hacked social media accounts or data breaches.

To reduce exposure to cyber threats, Kaspersky recommends that smartphone users keep operating systems and applications updated, install software only from trusted sources, enable biometric authentication and multi-factor authentication, regularly review application permissions, avoid clicking suspicious links and back up important data.

The company stated that as smartphones continue to replace traditional computers for work, banking and communication, strengthening mobile security should become a routine part of users’ digital habits rather than an afterthought.

‘s lower-denomination naira notes have not disappeared from circulation, but changing payment habits and the rapid shift towards digital transactions are reducing their availability, the Central Bank of Nigeria (CBN) has said.

The apex bank moved to calm concerns over the scarcity of N100 and N200 notes, insisting that the denominations remain legal tender and have not been withdrawn. Olayemi Cardoso, CBN Governor said the reduced presence of smaller notes in the economy reflects a shift in currency demand as more Nigerians adopt electronic payment channels and rely less on physical cash.

Cardoso, who spoke after the Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, said the scarcity was driven by market dynamics rather than any decision by the central bank to remove the notes from circulation.

‘Unless the central bank states otherwise, Nigerians should assume that all existing denominations remain legal tender,’ he said, urging businesses and individuals to continue accepting the notes.

The governor’s comments come amid concerns among consumers and small businesses over difficulties accessing lower-value naira notes, which remain important for everyday transactions such as transportation, petty trading and market purchases.

He explained that the financial system is evolving towards greater digital adoption, reducing the demand for physical cash, particularly smaller denominations.

‘As more people adopt digital payment channels, the demand for coins and lower-denomination notes naturally declines. If there is less demand for them, there is less need to print and circulate them in large quantities,’ Cardoso said.

He added that inflation and the depreciation of the naira have also weakened the purchasing power of lower-value notes, making them less useful for many transactions.

‘We must also acknowledge that currency devaluation has affected the purchasing power of lower-value notes. That is a reality,’ he said.

‘More importantly, however, as financial inclusion expands and digital payments become part of everyday life, fewer people will rely on these denominations.’

On inflation, Cardoso reaffirmed the CBN’s commitment to achieving single-digit inflation despite external pressures that have slowed progress in reducing price growth.

He said the country recorded 11 consecutive months of disinflation before unexpected global economic shocks disrupted the pace of improvement.

‘It is important to remember where we are coming from. We recorded 11 consecutive months of disinflation and, from every indication, we expected that by early 2027 we would be where we wanted to be in terms of inflation, with a path towards single-digit inflation,’ he said.

‘Unfortunately, we have experienced external shocks that were not anticipated and have lasted much longer than anyone expected. As for our single-digit inflation target, we remain committed to it.’

Responding to the International Monetary Fund’s (IMF) assessment that the naira is undervalued, with a fair value estimated at about N1,150 to the dollar, Cardoso said the exchange rate should continue to be determined by market fundamentals.

‘Our position remains the same. We will continue to ensure that Nigeria has a foreign exchange market that is transparent, liquid and based on a willing-buyer, willing-seller framework,’ he said.

The CBN governor said factors such as oil exports, foreign direct investment, domestic productivity and import substitution would determine where the exchange rate eventually settles.

He also expressed confidence in the current foreign exchange market, saying Nigeria now has a more functional and transparent system, with turnover exceeding $1 billion on some trading days, reflecting improved liquidity and growing confidence.

In an era of declining trust in institutions, ethical leadership is no longer a desirable ideal. It is an imperative for sustainable organisational and national development.

Ethical leadership goes beyond personal morality. It is the disciplined practice of leading with integrity, fairness, accountability, transparency and responsibility. Whether in a company, a church or a nation, sustainable progress depends not only on strategy and resources but also on the character and conduct of those entrusted with power.

Why ethical leadership matters for organisations

For organisations, ethical leadership has become a strategic necessity. The decisions leaders make, the behaviour they reward and the misconduct they tolerate ultimately determine whether an organisation earns trust or loses it.

Trust remains the currency of leadership. Employees are more committed when they believe their leaders are fair and honest, while customers are more likely to remain loyal to organisations they consider responsible. The collapse of Germany’s Wirecard in 2020 demonstrated the devastating consequences of prioritising appearances and short-term gains over integrity. This was directly caused by systemic accounting fraud. Executives prioritised the illusion of continuous, rapid growth to maintain stock prices and appease investors, resulting in massive debt and pound 1.9 billion in missing funds.

Similarly, South Africa’s Steinhoff scandal showed how corporate misconduct can destroy enormous financial value and undermine confidence in institutions. When the accounting scandal broke in late 2017, Steinhoff’s stock plunged by over 90% in just a few days.

‘Leaders also shape organisational culture through what they model, reward and tolerate. Employees watch what leaders do more closely than what they say.’

The lesson is straightforward: unethical practices may produce impressive results for a time, but the consequences eventually arrive through lawsuits, regulatory sanctions, reputational damage and the loss of stakeholder confidence. Ethical organisations, by contrast, are better positioned to attract talent, retain customers and achieve sustainable growth.

Leaders also shape organisational culture through what they model, reward and tolerate. Employees watch what leaders do more closely than what they say. When leaders demonstrate integrity and accept accountability, these behaviours gradually become embedded in the organisation. When leaders excuse dishonesty because ‘the results are good’, they send an equally powerful message.

Ethical leadership also improves decision-making. It encourages leaders to look beyond immediate profitability and consider the impact of decisions on employees, communities, customers and future generations. In that sense, ethics is not a constraint on performance. It is the foundation of sustainable performance.

How ethical leadership impacts nations:

The same principle applies to nations. National development is often measured by roads built, economies grown and infrastructure delivered. But beneath every sustainable development story lies a more fundamental question: how are leaders using power and public resources?

Ethical leadership promotes good governance by strengthening accountability, transparency, the rule of law and responsible stewardship. Singapore’s transformation from a developing country into a prosperous global economy illustrates how integrity, effective institutions and public accountability can contribute to national progress.

It also encourages economic growth. Investors are more willing to commit capital where governance is predictable, contracts are respected and institutions function fairly. The experience of countries such as Canada demonstrates that capital follows confidence, and confidence is strengthened by ethical governance.

Beyond economics, ethical leadership strengthens social cohesion. Citizens are more likely to cooperate with the government and one another when leaders demonstrate fairness and integrity. Japan’s strong culture of institutional responsibility and collective duty has, for decades, contributed to national resilience.

Nigeria’s recent experience offers a sobering reminder of the importance of institutional controls. The discovery of the so-called Presidential Foreign Intervention Promotion Council, which the Presidency described as fictitious, led President Bola Ahmed Tinubu to direct the ICPC to investigate. The controversy also raised questions about how more than ?1.3 billion could reportedly be associated with the entity in the 2026 budget. The allegations and circumstances remain subject to investigation, but the episode has already highlighted the dangers of weak oversight and the importance of accountability.

Ultimately, the choices leaders make today determine the quality of society tomorrow. Ethical leadership is therefore not a luxury or an abstract moral ideal. It is the practical foundation for good governance, economic prosperity, social trust and sustainable development.

Nations may rise through resources and opportunity, but they endure through responsible leadership.

Conclusion

Ethical leadership is not an optional leadership style; it is a fundamental requirement for sustainable organisational and national development. Vision without ethics leads to exploitation. Power without ethics leads to corruption. Progress without ethics becomes unsustainable.

Organisations prosper when leaders inspire trust through integrity. Nations flourish when leaders place public interest above personal ambition.

The future of our organisations and our nation will not be determined merely by the brilliance of our leaders, but by their character.

Ultimately, ethical leadership is the bridge between power and purpose and between leadership and lasting development.

Wole Oke, the Director-General of the Asiwaju Munirudeen Bola Oyebamiji Campaign Organisation, has said that the All Progressives Congress (APC) will surprise the ruling party with the outcome of the Governorship election in Ede, the hometown of Governor Ademola Adeleke, despite being regarded as the underdog in the town.

Oke, who spoke at the APC campaign rally in Ede and Egbedore Local Government Areas, on Tuesday, said, ‘we are being considered the underdog in Ede, but we will surprise them. You will see the vote that we will deliver.’

Oke also questioned Adeleke’s educational qualification, alleging that the governor lacks the educational capacity required to govern effectively.

He urged voters to support the APC Governorship candidate, whom he described as competent and possessing a sound educational background.

Also speaking, Oyebamiji expressed confidence that Ede would deliver a massive vote for the APC in the August 15 governorship election, saying no part of Osun rejects development.

‘We are expecting a massive vote from Ede. We believe that no part of the state abhors development and with our PROSPERITY Agenda, we are optimistic that the people of Ede will vote massively for APC and make me governor on August 15,’ he said.

He urged eligible voters to collect their Permanent Voter Cards (PVCs), keep them safe and use them to vote for the APC, assuring them that Ede would not regret supporting the party.

Also speaking, Adejare Bello, former Speaker of the Osun State House of Assembly, stated that the voting pattern in Ede would surprise many despite the town being the governor’s hometown.

Dotun Babayemi, a Chieftain of APC urged the people of Egbedore to ensure that Oyebamiji emerges victorious in the local government by voting massively for the APC.

‘You all know that we lost here in the 2023 election. This time around, with your support, we will win in Egbedore. We assure you that when we assume office, you will all enjoy the dividends of good governance,’ Babayemi said.