Nigeria: Adeyemi's Lawyers Detail Roles of Key Federal Agencies Validating Fake PFIPC

What the report says

Lawyers for Adeniyi Adeyemi, who is accused of setting up a fake Presidential Foreign Investment Promotion Council (PFIPC), are now arguing that the case should not be framed as the work of one person alone. In a statement reported by Premium Times and carried by AllAfrica, the defence said multiple federal institutions allegedly processed, recognised or interacted with the council, including the Office of the Secretary to the Government of the Federation, the Accountant-General’s office, the Central Bank of Nigeria, the Office of the Head of Civil Service, the Budget Office, the National Assembly and the EFCC.

The dispute dates back to October 2025, when the presidency’s chief of staff petitioned security agencies over claims that the PFIPC had been unlawfully established. Police later filed forgery- and fraud-related charges against Adeyemi and two others. He has denied the allegations. A Federal High Court in Abuja has handled several adjournments, and a bench warrant was issued after he failed to appear for arraignment. He was later arrested and remains in custody ahead of a further hearing scheduled for 30 September.

The controversy has also drawn lawmakers’ attention. The House of Representatives is separately investigating how the council allegedly secured office space, budget recognition and a N1.302 billion allocation in the 2026 Appropriation Act despite questions over its legal status. The lawyers say the state institutions that dealt with PFIPC should be examined alongside their client. More broadly, the case raises questions about how bogus entities can move through official systems without being stopped earlier.