By Isa Isawade
The controversy surrounding the existence and activities of the alleged fake presidential agency named Presidential Foreign Investments Promotion Council (PFIPC) with one Prince Adeniyi Adeyemi as the arrowhead has not only continued unabated but has also become more complicated with report by CP Fakorede revealing more facts.
Why the integrity of the man Adeyemi has been put to question by the Presidency and a section of the public, many are demanding explanations on how an agency described as fake got vote in the 2026 national budget whereas Adeyemi is said to have been under investigation for floating a fake agency.
New facts have emerged that the Nigeria Police Force got petition to investigate Adeyemi in 2025 when the office of the Chief of Staff wrote the then IGP Kayode Egbetokun about existence of the fake agency.
According to an impeccable source, Chief of Staff to the President, Femi Gbajabiamila on October 17, 2025, wrote the petition against Adeyemi and his agency to IGP Egbetokun who in turn referred it to the IGP Monitoring Unit on October 23, 2025.
The unit, then headed by CP Akin Fakorede immediately swung into action and timely arrested the suspect, Prince Adeniyi Adeyemi who styled himself as the agency’s Director General.
Sources said that the security operatives interrogating Adeyemi had to resist mounting pressures from influential personalities on the corridors of power who allegedly wanted the case file to be consigned to the trash bin.
The Fakorede led Unit diligently investigated the case, uncovering Adeyemi’s accomplices and submitted an interim report to the IGP’s office along with recommendations for Adeyemi and his co-travellers’ prosecution.
The interim report on the investigations into the matter reveals that, contrary to some narratives in circulation, the death of the alleged main witness in the case, Dolapo Babatunde Tanimola, occurred before the petition was referred to the IGP Monitoring Unit.
The nine-page report dated 13 November 2025 was prepared by the IGP Monitoring Unit, Force Headquarters, Abuja, signed by its then head, CP Akin Fakorede and was received by the Inspector-General of Police’s office in 18 Nov. 2025.
The report identified Prince Adeniyi Adeyemi Mathew as the principal suspect, while two other alleged accomplices, identified simply as Femi and Anu, remained at large.
According to the report, during interrogation, the suspect reportedly claimed that Mr. Dolapo Babatunde Tanimola assisted him in procuring the forged appointment letter.
The report further stated that the suspect’s actions amounted to criminal forgery, impersonation and obtaining by false pretence, exposing the Presidency and the Office of the Chief of Staff to an embarrassment before Nigerians and the international community.
The report said that “Prince Adeniyi Adeyemi Mathew deliberately forged official appointment letters and other government correspondence purportedly originating from the Office of the Chief of Staff in order to fraudulently present himself as a Federal Government appointee and Director-General of the fictitious PFIPC.”
Why observers commend the IGP Monitoring Unit led by Fakorede for doing a good job, they are puzzled that the report was not acted upon for almost one year while the accused has continued to move about freely. Worse still, funds were also allocated to the ‘non-existent’ agency in the 2026 budget.
Here below is a copy of the report:
