Official paperwork has surfaced that challenges the presidency's repeated claims that the Presidential Foreign Investment Promotion Council (PFIPC) never existed. The documents show that the Office of the Secretary to the Government of the Federation formally handled and processed requests submitted under the council's name months before authorities declared it fictitious.
Records reveal that the SGF's office received a letter from Prince Adeniyi Adeyemi, who identified himself as director-general of the PFIPC, asking for office space from federal properties seized and managed by the Economic and Financial Crimes Commission (EFCC). The SGF received this request on November 12, 2024, and sent it to the EFCC nine days later for what officials called "further necessary action".
Adeyemi is now facing criminal charges including forging presidential documents, impersonating a government official and running what the presidency has branded a fake agency. The paperwork trail will likely fuel fresh questions about how a body now deemed non-existent managed to communicate with federal institutions and have its requests processed through official channels.
A forwarding letter signed by Nnamdi Maurice Mbaeri, permanent secretary in the general services office, transmitted three applications requesting office space from recovered federal assets. One application bore the PFIPC's reference number SH/DG/PFIPC/RQ/107 and was dated November 7, 2024.
"I am directed to forward the attached copies of letters requesting allocation of office accommodation from the recovered federal government-landed properties for further necessary action," the SGF's office told the EFCC. Adeyemi's letter accompanied the forwarding document.
In his request, Adeyemi portrayed the PFIPC as a federal agency tasked with drawing foreign direct investment into Nigeria and managing investment activity across government bodies. He termed it "the resource and coordinating centre for the nation's foreign investment promotion activities" and "a one-stop-shop for investments".
Adeyemi claimed the council collected investment data, backed prospective investors with government resources and partnered with public agencies to strengthen Nigeria's investment appeal. He argued the organisation aimed to position Nigeria as "the world's preferred investment destination" by backing private sector expansion, job creation and economic growth.
This narrative sharply conflicts with what the presidency has said about the council. Bayo Onanuga, special adviser to the president on information and strategy, issued a statement branding the PFIPC fictitious and accusing Adeyemi of illegally setting it up and falsifying papers to make it look real.
The presidency stated that security agencies found Adeyemi had forged an appointment letter to support his claims, according to Onanuga's statement.
