The alleged mastermind behind the controversial fake Presidential Foreign Investment Promotion Council (PFIPC), Prince Adeniyi Adeyemi, has been arrested by operatives of the Nigeria Police Force’s Intelligence Response Team (IRT) following an intensive manhunt that ended in Osun State.
Adeyemi, who presented himself as the Director-General of the purported agency, was apprehended after a Federal High Court in Abuja issued a bench warrant for his arrest over his failure to appear for arraignment on an eight-count charge bordering on conspiracy, forgery and impersonation.
Justice Mohammed Umar ordered the arrest after the defendant failed to honour the court’s summons. The case has been adjourned until September 30, 2026, for his arraignment.
How the Manhunt Ended
Security sources disclosed that Adeyemi went underground shortly before his scheduled court appearance, allegedly switching off his mobile phones and moving to a hideout in Osun State in an attempt to evade arrest.
The Department of State Services (DSS) reportedly tracked his movements before the operation was taken over by the Inspector-General of Police’s Intelligence Response Team, led by CSP Moses Lohor. After days of intelligence gathering and surveillance, the elite police operatives stormed the hideout and arrested the suspect without incident.
Alleged Multi-Billion Naira Fraud
Police investigators accused Adeyemi and two accomplices, who remain at large, of operating a non-existent government agency under the name Presidential Foreign Investment Promotion Council.
According to the charges, the suspects allegedly forged presidential appointment letters, State House documents and other official government correspondence to give legitimacy to the fake agency. They are also accused of seeking office accommodation from federal institutions and attempting to secure more than ₦1.3 billion for the organisation in the 2026 national budget.
Authorities further alleged that Adeyemi falsely represented himself as the Director-General of the council despite repeated clarifications by the Presidency that no such agency exists.
Heavy Legal Consequences
The charges against the suspect include conspiracy, forgery and impersonation. If found guilty, he could face a lengthy prison sentence under Nigeria’s criminal laws.
Lawyers Demand Wider Probe
The arrest has reignited calls for a comprehensive investigation into the alleged fraud.
President of the Nigerian Bar Association (NBA), Afam Osigwe (SAN), welcomed the ongoing investigation, saying it could expose other individuals connected to the scheme.
Similarly, Senior Advocate of Nigeria, Prof. Sam Erugo, urged investigators to question every person linked to the alleged fake agency to ensure that anyone found culpable is brought to justice.
The arrest marks a significant breakthrough in the police investigation into one of the country’s most audacious impersonation and document-forgery scandals, with authorities expected to intensify efforts to apprehend the remaining suspects.