PFIPC Scandal: Fugitive DG Defies Tinubu, Insists on Independent Probe Before Surrender

PFIPC Scandal: Fugitive DG Defies Tinubu, Insists on Independent Probe Before Surrender

Adeniyi Adeyemi Matthew, the man at the centre of Nigeria’s biggest ghost agency scandal, has declared he will not surrender to authorities unless President Bola Tinubu sets up an independent panel to investigate the alleged ₦1.3 billion fraud. In a dramatic open letter dated July 13, 2026, the self-styled Director-General of the controversial Presidential Foreign Investment Promotion Council (PFIPC) rejected President Tinubu’s directive for the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to handle the probe. Adeyemi, who is facing an eight-count charge of forgery and impersonation, claims he fears for his life and argues that the government “cannot credibly investigate itself.”

The scandal has exposed severe weaknesses in Nigeria’s public service, revealing how a fictitious agency secured ₦1,302,978,784 in the 2026 Appropriation Act despite having no legal basis. Investigations show the PFIPC, also listed as the Presidential Economic Advisory Council (PEAC) , successfully secured office space within the Federal Secretariat in Abuja, opened multiple accounts with the Central Bank of Nigeria including a Treasury Single Account, domiciliary account, and pounds sterling account, and received approval for 314 staff positions from the Office of the Head of the Civil Service of the Federation. The council also obtained diplomatic recognition and engaged foreign missions, and received a budget of over ₦1.3 billion without undergoing mandatory legislative defence. The budget breakdown reportedly allocated ₦573 million for personnel salaries, ₦182.5 million for a proposed World Investment Summit, and ₦300 million for capital projects.

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In his open letter to President Tinubu, Adeyemi stated: “I write to you not as a fugitive evading accountability, but as a Nigerian citizen who maintains an unwavering belief in equity, justice, and the rule of law.” While commending the President’s ICPC directive as “a vital first step,” he argued that “true accountability cannot be achieved when the agency conducting the investigation answers directly to the branch of government within which the core allegations lie.” Adeyemi raised serious concerns about his safety, claiming he has received “verified, highly reliable intelligence” that he faces elimination if taken into custody. He pointed to the mysterious death of Dolapo Babatunde Tanimola, whom he described as “a central intermediary,” who reportedly died in a fire at Kachi Hotel in Abuja—a scene he claims was later demolished, “effectively erasing a vital physical crime scene.”

At the heart of the political storm are Adeyemi’s explosive allegations against President Tinubu’s Chief of Staff, Femi Gbajabiamila. Adeyemi claims he paid ₦400 million through intermediaries to secure his appointment, with part of the funds allegedly reaching Gbajabiamila. He further alleged that Gbajabiamila demanded 48 per cent of the agency’s take-off grant, estimated at ₦27.4 billion. The Presidency has exonerated Gbajabiamila, with police forensic analysis confirming the signature on Adeyemi’s disputed appointment letter was forged. Gbajabiamila is listed as a prosecution witness in the criminal case against Adeyemi.

The scandal has triggered widespread calls for accountability from opposition parties and civil society organisations. The Nigeria Democratic Congress (NDC) has demanded Gbajabiamila’s immediate removal to allow for an independent investigation, while BudgIT, a civic technology organisation, called the incident “a collapse of institutional safeguards” and demanded an independent probe into how the fictitious agency secured budget allocation. The NDC further questioned how an agency disowned by the Presidency could open multiple high-level financial accounts with the CBN. The Presidency has dismissed Adeyemi’s claims, with Special Adviser Temitope Ajayi accusing him of “exploiting public anger over corruption to evade criminal responsibility.”

President Tinubu has ordered the ICPC to investigate the PFIPC scandal, with a 30-day deadline to submit a comprehensive report. The investigation will examine forged appointment letters and official documents, the opening of multiple bank accounts using forged documents, the role of any public officials, private individuals, or financial institutions involved, and the systemic weaknesses that allowed the fictitious body to gain official legitimacy. Adeyemi is scheduled for arraignment before the Federal High Court in Abuja on Tuesday, July 14, 2026. He maintains he will cooperate fully with an independent, multi-stakeholder panel comprising civil society organisations, the Nigerian Bar Association (NBA) , independent media, international observers, and anti-corruption agencies.

PFIPC Scandal: Fugitive DG Defies Tinubu, Insists on Independent Probe Before Surrender