How Controversial PFIPC DG Lived in Alaafin’s Palace, Forged His Way into Govt System

Prince Adeniyi Mathew Adeyemi

How Controversial PFIPC DG Lived in Alaafin’s Palace, Forged His Way into Govt System

The unfolding scandal surrounding Prince Adeniyi Mathew Adeyemi, the self-proclaimed Director-General of the alleged ghost agency, Presidential Foreign Investment Promotion Council (PFIPC), has taken a new turn with revelations about his past ties to the Palace of the Alaafin of Oyo and how he allegedly infiltrated the Federal Government system using forged documents. Investigations conducted by federal agencies from early 2025 revealed that the controversial DG was not biologically related to the late monarch, Oba Lamidi Adeyemi III, but rather grew up in the palace and adopted the title of prince. Sources confirmed to the Nigerian Tribune that Adeniyi Mathew’s situation caught the attention of security agencies early last year, triggering investigations across multiple locations, including educational institutions, business links, and childhood locations. A top aide to the late Alaafin Adeyemi confirmed to investigators that the said Prince Adeniyi Mathew Adeyemi was not in any way related to Oba Lamidi Adeyemi. The top aide also confirmed that the surname of the controversial DG is Adeniyi, while his middle name is Mathew. It was gathered that at a stage, Oba Adeyemi had to warn him to drop the use of the title of Prince because he was never a prince.

The controversy surrounding Adeyemi escalated following an altercation with the Chief of Staff to the President, Femi Gbajabiamila, who disowned him and accused him of running an illegal body. Documents reviewed showed that the Office of the Secretary to the Government of the Federation (OSGF), the Office of the Accountant-General of the Federation (OAGF), and the Central Bank of Nigeria (CBN) acted on letters from Adeyemi’s PFIPC, apparently believing the council was a legitimate agency under the Presidency. Adeyemi’s claim to office reportedly began with a purported appointment letter dated March 8, 2024, conveying his appointment as Director-General of the Presidential Foreign Investment Promotion Council (PFIPC). The letter claimed President Bola Tinubu approved the appointment effective March 1, 2024, was written on what appeared to be State House letterhead, and carried a signature placed above Gbajabiamila’s name. The Chief of Staff has denied writing or signing the letter. According to a highly-placed civil servant who reviewed the document after Adeyemi’s arrest, the DG exploited a bureaucratic blind spot. “Adeniyi took that fake letter, falsely signed by Gbajabiamila, to the civil service headquarters and said ‘please refer to my appointment letter attached.’ He arranged his terms of reference where he stated that he needed an office.” The civil servant noted that officials were supposed to know that the Chief of Staff does not appoint anyone at that level, but the loophole allowed the fraud to proceed.

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The PFIPC scandal revealed how a supposedly non-existent agency managed to secure official recognition and government resources. Documents showed that on July 29, 2025, the Office of the Accountant-General of the Federation wrote to the CBN requesting the creation of domiciliary accounts for two MDAs, including the PFIPC. On August 13, 2025, the CBN confirmed that it had opened dollar and pounds accounts for the council. Adeyemi also wrote to the Accountant-General’s office on January 13, 2025, requesting self-accounting status for the agency. Despite the letter being written on State House letterhead, it was signed by Adeyemi as Director-General of PFIPC. After further correspondence, the OAGF granted the council a six-month provisional self-accounting status effective May 27, 2025. The Office of the Secretary to the Government of the Federation formally processed and forwarded a request by the council’s self-styled Director-General seeking office accommodation from recovered Federal Government properties through the Economic and Financial Crimes Commission. Correspondence, dated November 21, 2024, was signed by the Permanent Secretary, General Services Office, Nnamdi Maurice Mbaeri, on behalf of the SGF. Court documents showed that Adeyemi eventually operated from the second floor of the Federal Secretariat Complex in Abuja. By April 2025, Adeyemi wrote to the OAGF requesting accounting and audit staff, and at least three civil servants from the OAGF were later deployed to the agency on August 28, 2025. Additionally, the Office of the Head of the Civil Service of the Federation reportedly approved 314 staff positions for the purported agency.

His matter became further complicated following the discovery that he operated a Treasury Single Account with the Central Bank of Nigeria and that his agency was allocated the sum of N1.3 billion in the 2026 budget, aside from the fact that he operates from the Federal Secretariat, Abuja. The budget allocation has raised serious questions about how a non-existent agency found its way into the national budget. SERAP has urged the Senate President and the Speaker of the House of Representatives to disclose certified copies of all documents relating to the consideration and approval of the allocation to the PFIPC in the 2026 Appropriation Act. The organization argued that Nigerians have a right to know whether public funds were appropriated for an entity that was not lawfully established. BudgIT also called on President Bola Tinubu to order an independent investigation into the N1.3 billion allocation, questioning how the alleged agency secured office space within the Federal Secretariat, operated several CBN accounts, and engaged government institutions, development partners and diplomatic missions before concerns were raised over its legitimacy.

The scandal has prompted calls for an independent investigation, with growing demands for transparency and accountability. Temitope Ajayi, Senior Special Assistant to President Bola Tinubu on Information and Public Affairs, acknowledged that it was impossible to deny the existence of internal collaborators in the fake agency scandal. The Presidency has directed security and anti-graft agencies to identify, arrest, and prosecute government officials who may have collaborated with Adeyemi to run the ‘phantom’ council. The Federal Government has filed an eight-count charge against Adeyemi before the Federal High Court, with hearing fixed for July 27, 2026. The charges include conspiracy, forgery of a presidential appointment letter, impersonation, and related offences.

Investigations have also revealed that Adeyemi previously served briefly in 2023 as Senior Special Assistant on Protocol to Osun State Governor, Ademola Adeleke. A top government source said Adeyemi was appointed to handle visa and travel documents for the governor and other officials but was dismissed after allegations of misconduct surfaced, including an incident where he allegedly forged the signature of Governor Adeleke. The scandal has led to calls for the Chief of Staff’s removal, with the Nigeria Democratic Congress (NDC) demanding that Gbajabiamila step aside to allow for an independent investigation. The opposition party questioned how an agency described as non-existent could allegedly secure government funding and operate financial accounts at the Central Bank of Nigeria.