In brief
Adeniyi Adeyemi Matthew, who styled himself as Director‑General of a non‑existent Presidential Foreign Investment Promotion Council, was arrested in Osun State after a warrant from Abuja's Federal High Court. The agency, allegedly created in 2024 to lure foreign investment, never operated a bank account or received public funds, yet it reportedly secured a budget of 1.3 bn naira ($950,000). President Bola Tinubu’s office revealed that the appointment letter was forged by forging the president’s chief of staff’s signature, prompting a nationwide corruption inquiry. Adeyemi maintained his innocence, citing safety fears, but failed to appear at a court hearing, leading to his detention by the Force Intelligence and Intelligence Response Teams. The case highlights the need for independent investigations into governmental misuse of powers.
A suspected fraudster, Adeniyi Adeyemi Matthew, who claimed to head a bogus Presidential Foreign Investment Promotion Council (PFIPC), has been taken into custody after weeks of evasion.
The arrest occurred in Osun State, following a warrant issued by the Federal High Court in Abuja when Adeyemi absented himself from a court hearing charged with forgery and impersonation.
The PFIPC, supposedly formed in 2024 to attract foreign investment, never had a functioning bank account or secured public funds, yet it appeared in the 2026 Appropriation Act with a 1.3 bn naira allocation. Investigation found the appointment letter, which named the president’s chief of staff, was forged.
Police confirmed that officers from the Force Intelligence Department and the Intelligence Response Team executed the raid, with plans to transfer Adeyemi to the Abuja police headquarters for interrogation.
Reactions from civil society and opposition lawmakers now call for an independent inquiry into how the fabricated agency received a budgetary allocation without any records of activity.
Adeyemi has promised to appear in court to clear his name, though he has repeatedly expressed concerns for his safety in local media.
