In a dramatic turn of events, the man who called himself the director‑general of a phantom Presidential Foreign Investment Promotion Council—Adeniyi Adeyemi Matthew—was arrested in Osun State after a week‑long manhunt.
The arrest came after a warrant issued by the Federal High Court in Abuja on Tuesday for his failure to appear at a hearing on forgery and impersonation charges related to a forged appointment letter that allegedly created the non‑existent agency.
Presidential spokesman statements said the letter was forged with a counterfeit signature of the chief of staff. The PFIPC, which the government said never received funds, reportedly appeared on the 2026 Appropriation Act with an allocation of 1.3 bn naira (about US$950 000).
According to police, the Force Intelligence Department and the Intelligence Response Team carried out the operation. Adeyemi will be taken to Abuja police headquarters for further questioning during a judicial review.
“My life is in danger,” the suspect said to the press, claiming he would appear in court once he feels secure enough. His lawyer, Genesis Francis, argued that the defendant’s safety concerns prevented attendance at the hearing, citing an open letter to President Tinubu.
Critics of the administration want an independent inquiry to audit the alleged budget of the fake council and uncover whether any foreign investors were actually approached.
Officials insist no official accounts were opened in the name of the council and no public funds were transferred, though the agency allegedly had accounts at the Central Bank of Nigeria.
In a broader context, the scandal highlights the intensity of investigations into corruption within Nigeria after President Bola Tinubu launched a national probe earlier this month.
