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Man in Abuja Charged Over Alleged Fake Presidential Agency That Secured Federal Funding

Prosecutors say Adeniyi Adeyemi created the 'Presidential Foreign Investment Promotion Council' in 2024, obtained office space in a federal complex, opened dozens of bank accounts and drew about $1 million from the federal budget before his arrest in October 2025.

Nigerian Man Accused of Running Fake Government Agency with Federal Budget

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Adeniyi Adeyemi is accused of founding a fake agency called the Presidential Foreign Investment Promotion Council (PFIPC), posing as its director-general and securing roughly $1 million in federal funds.

Authorities say Adeyemi used presidential stationery, a forged appointment letter allegedly bearing a presidential chief of staff signature, rented space in the Federal Secretariat, opened 34 bank accounts and recruited staff.

He was arrested in October 2025 after earlier failed arraignment attempts, pleaded not guilty to eight counts including conspiracy and forgery, and was remanded to Kuje Correctional Center.

# What happened

# How the alleged scheme worked

According to the charges, Adeyemi recruited staff for the PFIPC and produced a realistic-looking letter of appointment purportedly signed by the presidential chief of staff, Femi Gbajabiamila. Gbajabiamila filed the petition that led to Adeyemi's arrest.

# Legal proceedings and custody

Adeyemi faced multiple failed attempts at arraignment earlier in 2025 for reasons that included lawyer requests, his absence and the judge's engagements. A bench warrant issued after he skipped a July arraignment led to his arrest within 12 hours. When he finally appeared in court, he pleaded not guilty to eight counts covering conspiracy, forgery and impersonation. The judge remanded him to Kuje Correctional Center. Two named accomplices, identified as "Femi" and "Anu," remain at large according to prosecutors.

# Claims and public reaction

Adeyemi has publicly maintained that the PFIPC was a legitimate agency focused on attracting foreign investment. He also claimed he paid 400 million Nigerian nairas toward a forged appointment document allegedly involving the presidential chief of staff. Adeyemi asked President Bola Tinubu to establish an independent anti-corruption panel to investigate the circumstances of the case.

The story attracted widespread attention in Nigeria. Citizens have expressed shock that a person could allegedly create and operate a high-level government agency for months without earlier detection, and some critics suggested the scheme could not have persisted without cooperation or payoff of government officials. Prosecutors so far have not indicted any other government officials for collusion.

# What to watch next

Expect further court proceedings that will disclose evidence prosecutors intend to use, including bank records tied to the 34 accounts and any documentary forgeries. If prosecutors name witnesses or present internal government communications, that material could clarify how the PFIPC obtained funding and access to federal office space. The government's response to Adeyemi's request for an independent anti-corruption panel will also shape next steps.

# Why this matters

The case combines alleged document forgery, impersonation of high-level government roles, misdirection of federal funds and the use of official facilities. For public accountability, the court record and follow-up investigations will be the primary sources to determine whether this was an elaborate fraud carried out by a single operator and associates, or whether wider institutional lapses or collusion existed.

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