Adeniyi Adeyemi
The Federal Government has filed a fresh 36-count amended charge against the embattled Director-General of the Presidential Foreign Investment Promotion Council (PFIPC), Adeyemi Adeniyi, over allegations of forgery, false representation and fraud, including claims that he attempted to secure a ₦1.302 billion allocation for an alleged fictitious government agency.
Adeniyi appeared before Justice Halilu Yusuf of the Federal Capital Territory High Court in Maitama, Abuja, on Monday alongside four other defendants as the government expanded its case over the controversial PFIPC saga.
However, the arraignment could not proceed following the absence of the fourth defendant, Florence Omemah, who was said to be receiving medical treatment in an Abuja hospital.
Prosecution counsel, Sylvanus Tahir, informed the court that Omemah’s health condition prevented her from appearing for the hearing and requested a seven-day adjournment to allow her recover and take her plea.
But counsel to Adeniyi, Ibrahim Angulu, urged the court to grant a shorter adjournment, arguing that his client had remained in detention for more than 200 days and needed an opportunity to pursue bail.
In a brief ruling, Justice Yusuf adjourned the matter until November 18 for the arraignment of all defendants.
The court also ordered that Adeniyi should remain at the Kuje Correctional Centre, while the other defendants remain in the custody of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) pending further proceedings.
The case centres on allegations that Adeniyi created and operated a federal agency known as the Presidential Foreign Investment Promotion Council, which investigators claim had no legal foundation.
According to investigators, Adeniyi allegedly presented himself as the Director-General of the council and used forged appointment documents and signatures attributed to the Chief of Staff to the President to give legitimacy to the position.
The alleged scheme, according to the investigators, involved exploiting gaps within the civil service structure to position the purported agency for government recognition and funding.
Investigators further alleged that Adeniyi occupied offices previously used by the defunct Presidential Economic Advisory Council at the Federal Secretariat in Abuja and held engagements with foreign diplomats while presenting himself as a government official.
He was also accused of seeking official documentation relating to United States visas and operating 34 bank accounts allegedly connected to the activities under investigation.
One of the major issues raised in the case is the alleged attempt to secure a ₦1.302 billion provision in the 2026 budget for the purported agency.
The allegation has heightened concerns over the monitoring of government institutions and the processes through which agencies are created, recognised and funded.
The ICPC had earlier presented an interim report to President Bola Tinubu, following which the commission reportedly uncovered two other alleged fictitious agencies linked to the investigation — the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency.
The commission also recommended disciplinary measures against some public officials suspected of having played roles in facilitating the alleged scheme.
The legal battle over the matter has continued after the Federal High Court in Abuja struck out the initial eight-count charge in October 2026 following jurisdictional concerns, prompting the Attorney-General of the Federation to withdraw the case.
The ICPC subsequently filed the amended 36-count charge, adding more defendants and expanding the allegations against those accused of involvement in the alleged scheme.
Adeniyi has denied the allegations and pleaded not guilty to the charges bordering on fraud, forgery and impersonation.
He remains in custody at the Kuje Correctional Centre as the court prepares to commence formal arraignment on the fresh charges.
