Key Takeaways
- Prince Adeniyi Adeyemi, self-styled Director-General of the alleged "non-existent" Presidential Foreign Investment Promotion Council (PFIPC), has been arraigned by the ICPC.
- He faces 22 counts of forgery, impersonation, and obtaining money under false pretenses.
- Adeyemi is accused of fraudulently obtaining over N27 billion for the fake agency's establishment and another N38 billion for personnel costs.
- He allegedly forged documents, including those purportedly signed by the Chief of Staff to the President, to occupy government offices and secure official vehicles.
- The defendant pleaded not guilty to all charges, and the case has been adjourned for trial and a bail application hearing.
Abuja, Nigeria – The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has brought serious charges against Prince Adeniyi Adeyemi, who allegedly posed as the Director-General of a fictitious government body, the Presidential Foreign Investment Promotion Council (PFIPC). Adeyemi was arraigned on Thursday before Justice Halilu Yusuf of the High Court of the Federal Capital Territory (FCT) in Maitama, facing a comprehensive 22-count charge that includes forgery, impersonation, and obtaining money under false pretenses.
The ICPC's prosecution counsel detailed a sophisticated scheme in which Adeyemi, while falsely presenting himself as a public servant, allegedly secured over N27 billion for the purported establishment of the non-existent agency. Furthermore, he is accused of dubiously obtaining an additional N38 billion earmarked for personnel costs, bringing the total alleged fraud to a staggering N65 billion.
Elaborate Forgery and Impersonation Allegations
According to the prosecution, Adeyemi's alleged fraudulent activities extended to forging critical government documents. These included a document addressed to the Minister of Finance and Coordinating Minister of the Economy, through which he purportedly obtained funds. More brazenly, he is accused of forging documents allegedly signed by the Chief of Staff to the President, Femi Gbajabiamila, to claim his appointment as the Director-General of the PFIPC. These forged papers were reportedly used to illegally occupy government office facilities within the Federal Secretariat Complex Phase III, Abuja.
The defendant also stands accused of forging a document sent to the Accountant-General of the Federation, titled “RE: REQUEST FOR APPROVAL OF SELF-ACCOUNTING STATUS.” This document was intended to enable the non-existent agency to operate within the government's financial reporting structure. In another instance, Adeyemi allegedly forwarded forged documents to the Director-General of the National Information Technology Development Agency (NITDA) to secure a domain name for the phantom agency.
Bribery and Further Fraudulent Claims
Beyond the large-scale financial fraud, Adeyemi is also implicated in alleged acts of bribery. He is accused of gifting N210,000 without official authorization to Aminu Abdullahi, an Assistant Chief Technical Officer in the Office of the Secretary General of the Federation (OSGF), to “facilitate the allocation of office space.” Another N300,000 was allegedly given to Ogaba Harry, an officer in the Office of the Chief Economic Adviser to the President, to facilitate the release and handover of two official vehicles – a Prado SUV and a Land Cruiser SUV – to him.
One of the counts also details an allegation that on July 29, 2025, Adeyemi collected N20 million from Oyekunle Gbenga, the Managing Director of Divine Dopacy Nigeria Limited. This sum was allegedly obtained under the false pretense of a “project facilitation loan” for a purported N28 billion contract. This contract, allegedly awarded by the fictitious PFIPC, was for the procurement of furniture and renovation of the official residence of the DG of the said non-existent agency.
The ICPC insists that these offences were committed between 2024 and 2026, contravening various sections of the Penal Code Cap 532, Laws of the Federation of Nigeria (Abuja) 1990; the Advance Fee Fraud and Other Fraud Related Offences Act, 2006; and the Corrupt Practices and Other Related Offences Act, 2000.
Court Proceedings and Bail Application
During the arraignment, Prince Adeniyi Adeyemi pleaded not guilty to all 22 counts. Following his plea, prosecution counsel Fatima Bardi requested a trial date. Adeyemi's lawyer, Mr. Ibrahim Angulu, SAN, made an oral application for his client's release on bail, citing Adeyemi's prolonged detention since July 14 – a period exceeding 155 days – and his deteriorating health. However, Justice Yusuf declined to entertain the oral application, directing the defense counsel to file a formal written application. The case has been adjourned until November 9 for the commencement of trial and a possible hearing of the bail application.
It is noteworthy that an initial eight-count charge filed against Adeyemi by the Nigeria Police Force was struck out by the Federal High Court in Abuja on October 12, after being withdrawn by the office of the Attorney-General of the Federation and Minister of Justice. This current arraignment by the ICPC signifies a renewed and more extensive legal pursuit of the allegations.
Why This Matters
This high-profile arraignment underscores Nigeria's ongoing battle against corruption and impersonation, particularly within government circles. The alleged creation of a non-existent presidential agency to defraud the state of billions of Naira highlights the sophisticated nature of financial crimes and the critical role of anti-graft agencies like the ICPC in safeguarding public funds and maintaining the integrity of government institutions.