Fresh Documents Contradict Presidency’s PFIPC Denial as FG Moves to Prosecute Alleged Fake Agency Boss

Fresh revelations have intensified the controversy surrounding the alleged Presidential Foreign Investment Promotion Council (PFIPC), with official documents indicating that the Office of the Secretary to the Government of the Federation (OSGF) processed correspondence submitted on behalf of the council months before the Presidency publicly declared it a fictitious agency.

The documents, obtained by Saturday PUNCH, show that the SGF’s office received, acknowledged, and acted on a request submitted by Prince Adeniyi Adeyemi, who presented himself as the Director-General of the PFIPC.

According to the records, Adeyemi wrote to the SGF on November 7, 2024, requesting office accommodation from recovered Federal Government properties managed by the Economic and Financial Crimes Commission (EFCC). Registry stamps indicate that the correspondence was received by the SGF’s office on November 12, 2024.

Nine days later, on November 21, 2024, the Office of the SGF, through the Permanent Secretary, General Services Office, Nnamdi Maurice Mbaeri, formally forwarded the request to the EFCC for what it described as “further necessary action.”

The forwarding letter reportedly listed the PFIPC among three government institutions seeking office accommodation from recovered government properties, a development that has raised fresh questions over the Presidency’s insistence that the agency never existed.

In his application, Adeyemi described the PFIPC as a Federal Government investment promotion agency responsible for attracting foreign direct investment, coordinating investment activities across Ministries, Departments and Agencies (MDAs), and promoting Nigeria as a preferred destination for international investors.

He further claimed that the council served as a one-stop investment centre, facilitating collaboration between the public and private sectors while providing support for both prospective and existing investors.

Criminal Charges Against Adeyemi

The emergence of the documents comes as the Federal Government continues the criminal prosecution of Adeyemi over allegations that he operated a fictitious government agency, forged an appointment letter purportedly signed by the Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila, and falsely presented himself as Director-General of the PFIPC.

According to court documents filed before the Federal High Court in Abuja, Adeyemi and two other suspects currently at large are facing an eight-count charge bordering on conspiracy, forgery, impersonation, and related offences allegedly committed between 2024 and 2025.

Prosecutors also alleged that Adeyemi operated 34 bank accounts, including accounts reportedly opened in the names of government agencies, while using the PFIPC platform to conduct official engagements with diplomats and public institutions.

The Federal Government has listed Chief of Staff Femi Gbajabiamila and ten other witnesses, including officials from the Office of the Accountant-General of the Federation, to testify during the trial.

Presidency Maintains PFIPC Was Fictitious

Despite the newly surfaced correspondence, the Presidency has maintained that the PFIPC was never a legally established government agency.

Presidential spokesman Bayo Onanuga recently stated that Adeyemi allegedly forged official documents, created a non-existent agency, and used fake presidential appointments to deceive government institutions and members of the public.

Similarly, the Senior Special Assistant to the President on Media and Publicity, Temitope Ajayi, argued that internal collaborators within government institutions may have assisted Adeyemi in sustaining the alleged operation.

Ajayi disclosed that investigators from the Department of State Services (DSS), the Nigeria Police Force, and the EFCC have been tasked with identifying and prosecuting anyone found to have aided the alleged scheme.

He maintained that although systemic weaknesses may have allowed the operation to continue for some time, it was ultimately government institutions that detected the alleged fraud after concerns were raised by the Nigerian Investment Promotion Commission (NIPC) and the Federal Ministry of Foreign Affairs.

Questions Over PFIPC’s Operations

As part of ongoing investigations, journalists visited the Federal Secretariat in Abuja but found no office bearing the name of the Presidential Foreign Investment Promotion Council. Civil servants and security personnel also said they were unaware of the agency’s existence.

However, investigations reportedly revealed that the PFIPC previously operated a website on the Federal Government’s official domain, pfipc.gov.ng, although the website is no longer accessible. Open-source intelligence reportedly showed the domain remained active until April 2025.

Opposition, Lawyers and Civil Society Demand Independent Probe

The controversy has continued to attract widespread reactions from opposition parties, legal practitioners, and civil society organisations.

Human rights lawyer Femi Falana (SAN) has called on the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to conduct an independent investigation into the allegations involving both Adeyemi and Chief of Staff Femi Gbajabiamila.

Falana also demanded explanations over reports that the alleged agency received budgetary allocations running into billions of naira and allegedly operated accounts with the Central Bank of Nigeria.

The African Democratic Congress (ADC) and the Nigeria Democratic Congress (NDC) have separately called for an independent investigation into the matter, with both parties arguing that the controversy raises fundamental questions about institutional integrity and accountability.

A coalition of civil society organisations also urged President Bola Tinubu to direct the ICPC to carry out a transparent probe into allegations surrounding the PFIPC, including claims relating to budgetary allocations, CBN accounts, and the agency’s operations.

The coalition warned that unless visible steps are taken to commence an independent investigation within seven days, it would embark on a peaceful protest at the Presidential Villa.

As the legal proceedings continue, the conflicting narratives between official government correspondence and the Presidency’s public position have placed the PFIPC controversy under even greater public scrutiny, with many Nigerians awaiting the outcome of investigations and the court trial.