Police Arrest PFIPC Founder After Court Issues Warrant Over Alleged Fraud Case

(Alleged fake PFIPC DD Adeyemi. Photo by Leadership News)

The Nigeria Police Force has arrested Prince Adeniyi Adeyemi, the self-styled director-general of the allegedly fictitious Presidential Foreign Investment Promotion Council (PFIPC), just hours after a Federal High Court in Abuja issued a bench warrant for his arrest over allegations of fr@ud, forgery, and impersonation.

Police sources confirmed that Adeyemi was picked up on Tuesday by operatives of the Intelligence Response Team (IRT) in Osun State before being moved to Abuja, where he is expected to remain in custody pending his arraignment before the Federal High Court on September 30.

Confirming the arrest, the Force’s public relations officer, CSP Anietie Okokon Edem Iniedu, said Adeyemi was apprehended in line with the court’s directive.

A video capturing the arrest, which circulated shortly afterward, showed Adeyemi dressed in a light blue traditional outfit and flanked by armed security operatives.

When asked to identify himself, he initially avoided giving a direct answer, telling officers, “I have mentioned it, sir.” When pressed further to state his name, he repeated, “I have said it several times.”

Justice Mohammed Umar of the Federal High Court in Abuja had earlier ordered Adeyemi’s arrest after he failed to appear for a scheduled arraignment on an eight-count charge bordering on forgery, fr@ud, and impersonation, marked FHC/ABJ/CR/562/2025.

The arrest warrant followed an oral application by prosecution counsel Mr Wisdom Madaki, who argued that the defendant had repeatedly stalled the commencement of his trial through persistent absence from court.

“My lord, this is the fifth time this case is coming up, and all the adjournments have been at the instance of the defendant,” Madaki told the court, urging the judge to compel Adeyemi’s attendance pursuant to Section 394 of the Administration of Criminal Justice Act (ACJA), 2015.

Although the defendant was not present, his lawyer, Mr Genesis Francis, appeared on his behalf and opposed the application, arguing that Adeyemi’s absence stemmed from genuine security concerns rather than any intention to evade justice.

He explained that his client had appeared in court on May 16 before the matter was adjourned, but that subsequent events had exposed him to serious threats.

“Since then, this case has become a matter of public importance, and there have been many threats to his life,” the defence counsel said, adding, “The defendant is afraid for his life. He has to be alive to face trial.

They have been looking for him even without an order of court.”

Justice Umar, however, held that the court’s records reflected a consistent pattern of non-appearance by the defendant.

He noted that although the charge was filed on November 27, 2025, and proceedings began on December 4, 2025, Adeyemi had appeared before the court only once.

“Since then, he has failed to appear before this court on four consecutive dates,” the judge ruled, before issuing the warrant directing security agencies to arrest and produce him in court on September 30 for arraignment.

Following his arrest in Osun State, Adeyemi was transported to Abuja, where he remains in police custody ahead of the court date.

It has also been gathered that the prosecution has lined up several prominent witnesses expected to testify during the trial, including the Chief of Staff to the President, Mr Femi Gbajabiamila; Paul Emmanuel; Jeremiah Imoukhede; Ituah Sylvester; officials of the Office of the Accountant-General of the Federation, Akimbo Shola and Adamu Balongu; as well as a Deputy Superintendent of Police connected to the investigation.

Police investigations allege that Adeyemi orchestrated an elaborate scheme involving forged appointment letters and official government documents to present the PFIPC as a legitimate federal agency.

Investigators say the probe began after the Office of the Chief of Staff to the President petitioned the Inspector-General of Police on October 17, 2025, over alleged forged appointment letters purportedly issued by the office.

The petition claimed the forged documents bore fake signatures, reference numbers, official seals, and the Nigerian Coat of Arms, and were used to appoint individuals to the purported council.

Investigators further allege that Adeyemi presented himself as director-general of the PFIPC and operated from an office within the Federal Secretariat Complex, Phase III, Abuja.

Prior to his arrest, Adeyemi had granted an interview denying that he was evading security agencies, insisting he had gone into hiding solely because of alleged threats to his life. Speaking on a television programme, he said, “I am ready to show my face.

I am not hiding. I am only fearing for my life because I have it on good authority that my life is in danger. There have been several attempts on my life.”

He also linked his decision to stay out of public view to the death of an associate, Dolapo Babatunde Tanimola, who reportedly died in a hotel fire in Abuja.

He described Tanimola as a key intermediary in the PFIPC controversy and suggested the circumstances of his death heightened his own fears for his safety.

Adeyemi further maintained his controversial claim that he paid N400 million through a proxy to Gbajabiamila to secure his appointment as director-general of the PFIPC, stating that those who financed the alleged payment have since petitioned the Economic and Financial Crimes Commission (EFCC) to recover their money.

He has consistently denied claims that the PFIPC is a fictitious organisation.

In an open letter addressed to President Bola Tinubu, Adeyemi demanded the setting up of an independent, multi-stakeholder investigative panel to examine the controversy surrounding the council, as well as allegations of a proposed N1.3 billion budget allocation for it in the 2026 Appropriation Bill.

He pledged to provide documentary evidence and cooperate fully with investigators should such a panel be established, proposing that it include representatives from civil society organisations, the Nigerian Bar Association (NBA), independent media organisations, international financial institutions, human rights bodies, diplomatic missions, the Independent Corrupt Practices and Other Related Offences Commission (ICPC), and the EFCC.

Meanwhile, President Bola Tinubu has directed the ICPC to investigate all claims and counterclaims surrounding the alleged fake agency.