Amanze Chinonye
Prince Adeniyi Adeyemi Matthew, who claims to be the Director-General of the disputed Presidential Foreign Investment Promotion Council (PFIPC), has called on President Bola Tinubu to expand the ongoing investigation into the alleged PFIPC scandal by establishing an independent, multi-stakeholder investigative panel.
In an open letter dated July 13, 2026, Adeyemi welcomed the President’s directive to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the circumstances surrounding the controversial PFIPC and the alleged ₦1.3 billion allocation inserted into the 2026 Appropriation Act.
He described the presidential directive as “a vital first step” but argued that the investigation should extend beyond the ICPC to guarantee transparency, impartiality and public confidence.
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Maintaining that he was not evading accountability, Adeyemi said he remained willing to cooperate fully with investigators under what he described as a neutral and secure process.
According to him, the current investigative framework presents “structural challenges” to a fair hearing because the allegations involve officials within the executive arm of government, while the investigating agency operates under the same administration.
He also claimed that surrendering to security agencies under the existing arrangement would place his life at risk, alleging that he had received credible intelligence suggesting he would be targeted if he appeared in an unprotected environment.
The self-styled PFIPC chief further referenced the death of Dolapo Babatunde Tanimola, whom he described as a key intermediary in the matter, raising questions about the official account of the incident.
Adeyemi alleged that although authorities reported Tanimola died in a fire at Kachi Hotel in Abuja’s Utako District, there had been no independent eyewitness or media confirmation of the reported incident. He further claimed that the hotel was subsequently demolished by unidentified armed individuals, an action he alleged destroyed a potential crime scene and erased material evidence.
Adeyemi said the reported events, coupled with what he described as multiple attempts on his life and threats to his family, had compelled him to remain at an undisclosed location.
He urged President Tinubu to constitute an independent investigative panel comprising representatives of civil society organisations, the Nigerian Bar Association (NBA), independent media, international financial institutions, human rights organisations, diplomatic missions, as well as the ICPC and the Economic and Financial Crimes Commission (EFCC).
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According to him, the inclusion of domestic and international observers would enhance the credibility of the investigation and reassure both Nigerians and the international community of the government’s commitment to transparency and accountability.
Adeyemi said he was prepared to present what he described as comprehensive documentary evidence immediately such a panel is constituted.
Copies of the letter were addressed to several local and international institutions, including the United Nations, the World Bank, the International Monetary Fund (IMF), the African Union (AU), the Economic Community of West African States (ECOWAS), the Nigerian Bar Association, the National Assembly, the judiciary, anti-corruption agencies, security institutions, foreign diplomatic missions, and major local and international media organisations.
The PFIPC has remained at the centre of a widening controversy after the Presidency disowned the organisation, describing it as non-existent despite documents indicating that it received a ₦1.3 billion allocation in the 2026 Appropriation Act.
President Tinubu subsequently directed the ICPC to investigate the circumstances surrounding the agency’s creation and funding, while the anti-graft agency has commenced an inquiry into the matter. Adeyemi, however, has consistently maintained that the council was lawfully established and has denied any wrongdoing.
This development is expected to intensify scrutiny of the PFIPC controversy as investigators seek to establish the circumstances surrounding the agency’s creation, funding, and the competing claims by the Presidency and Adeyemi.
The outcome of the probe is also likely to test the government’s commitment to transparency and accountability in the management of public institutions.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
