The Director-General of the controversial Presidential Foreign Investment Promotion Council (PFIPC), Prince Adeniyi Adeyemi Matthew, said he will not surrender to authorities unless an independent panel is constituted by President Bola Tinubu to investigate the alleged ghost agency.
In an open letter on Monday, Adeyemi said he welcomed Tinubu’s directive ordering the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the PFIPC scandal and the alleged N1.3bn insertion into the 2026 Appropriation Bill, but argued that the current arrangement could not guarantee an impartial investigation.
“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,” he wrote.
He described the presidential directive as “a vital first step,” but said “the structural realities of this investigation compel me to speak out of a profound desire for absolute transparency.”
According to him, “Under the current framework, obtaining a truly impartial hearing presents severe structural challenges. The public narrative emanating from official channels remains heavily weighted toward my immediate arrest, effectively overshadowing the gravity of the systemic vulnerabilities and high-level involvement I have brought to light.”
“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 further claimed that surrendering himself under the present circumstances would endanger his life.
“Furthermore, I must state clearly that walking freely into custody under the current arrangement poses an immediate, existential threat to my life. I have received verified, highly reliable intelligence indicating that I am targeted for elimination the moment I surface in an unmonitored environment,” he stated.
He recalled the death of Dolapo Babatunde Tanimola, whom he described as “a central intermediary in this matter.”
According to him, “Official reports claim Mr. Tanimola tragically died in a sudden fire incident at Kachi Hotel in Utako, Abuja. Yet, there remains a total absence of independent eyewitness or media verification of any such inferno.”
He further alleged that “under highly unclear circumstances and without the official involvement of any federal capital regulatory agency, the entire Kachi Hotel structure was swiftly invaded by unidentified armed actors and manually demolished down to the rubble days later—effectively erasing a vital physical crime scene and erasing material evidence.”
Adeyemi said multiple attempts had also been made on his life and the safety of his family, which forced him to flee to an undisclosed location.
He urged President Tinubu to establish an independent, multi-stakeholder investigative panel comprising civil society organisations, the Nigerian Bar Association, independent media representatives, international financial observers, diplomatic observers, human rights organisations, as well as the ICPC and the Economic and Financial Crimes Commission (EFCC).
“The moment this independent, multi-stakeholder panel is constituted, I will immediately step forward to present comprehensive documentation and verifiable evidences,” he said.
“A system cannot credibly investigate itself when its own key actors are central to the discourse.
“By broadening this panel, you will demonstrate to the world that your administration’s commitment to anti-corruption is absolute, institutional, and above palace politics. The international community is closely watching how Nigeria handles this test of fiscal integrity and governance.
“I remain fully prepared to present the facts and cooperate entirely with a balanced, secure, and independent panel.”
President Tinubu had directed the ICPC to investigate the activities of the purported presidential council after the presidency declared that it was never established by the Federal Government.
He ordered the anti-corruption agency to conclude its investigation within 30 days.
According to the presidency, the PFIPC had no legal basis, presidential approval or executive authorisation.
Presidential spokesperson, Bayo Onanuga, accused Adeyemi of falsely claiming to be a presidential appointee.
It urged the ICPC to investigate allegations of forged appointment letters and other official government documents, the use of a false presidential appointment to obtain official recognition and diplomatic support, the opening of bank accounts in the names of purported government agencies, the movement of funds linked to the alleged scheme, and the involvement of any public officials or private individuals.
The PFIPC first came under scrutiny in June after the Chief of Staff to the President, Femi Gbajabiamila, disowned it.
Gbajabiamila alleged that the group operated for months using forged documents while claiming presidential backing.
Adeyemi had also alleged that Gbajabiamila collected about ₦400m through a proxy to facilitate his appointment and later demanded an additional N200m.
