Adeniyi Adeyemi, who claims to be the director-general of the disputed ‘Presidential Foreign Investment Promotion Council’ (PFIPC), has urged President Bola Tinubu to set up an independent panel to investigate the PFIPC controversy.
In an open letter to Tinubu, Adeyemi said the panel must be “independent” and “multi-stakeholder” to “guarantee complete neutrality”.
According to him, the panel’s membership should be drawn from civil society organisations and independent media representatives, international financial observers, and human rights observers, such as Amnesty International, to monitor compliance with international safety and legal standards.
He listed others as: “Diplomatic Observers: Representatives from the United Nations, the United States, the United Kingdom, the European Union, ECOWAS and the African Union” and “Statutory Enforcement: The ICPC and EFCC, serving as technical partners within this broader, independent coalition.”
Tinubu had asked the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the matter, but Adeyemi said since the agency is part of the government, it would be unfair to have it probe the matter.
“If this investigation is to command the absolute trust of the Nigerian public and the international community, it must transcend standard bureaucratic boundaries,” he said.
“The moment this independent, multi-stakeholder panel is constituted, I will immediately step forward to present comprehensive documentation and verifiable evidence,” Adeyemi said. “A system cannot credibly investigate itself when its own key actors are central to the discourse.”
He commended President Tinubu for directing the ICPC to investigate the circumstances “surrounding the PFIPC Scandal and ₦1.3 billion allocation inserted into the 2026 Appropriation Bill.”
“This directive is a vital first step, but the structural realities of this investigation compel me to speak out of a profound desire for absolute transparency,” he said.
But Adeyemi alleged that “True accountability cannot be achieved when the agency conducting the investigation answers directly to the branch of government within which the core allegations lie”.
“Furthermore, I must state clearly that walking freely into custody under the current arrangement poses an immediate, existential threat to my life. I have received verified, highly reliable intelligence indicating that I am targeted for elimination the moment I surface in an unmonitored environment.
“More disturbingly, under highly unclear circumstances and without the official involvement of any federal capital regulatory agency, the entire Kachi Hotel structure was swiftly invaded by unidentified armed actors and manually demolished down to the rubble days later—effectively erasing a vital physical crime scene and erasing material evidence.”
His letter came amid the controversy over the ‘council’, which the presidency said does not exist. Despite this, Adeyemi insists he was duly appointed.
Adeyemi denied any wrongdoing, accusing Femi Gbajabiamila, the Chief of Staff to President Tinubu, and other senior government officials of attempts to frustrate his activities after he refused to comply with certain orders.
In a press conference last month, Adeyemi faulted Gbajabiamila’s comment, claiming the council wouldn’t have appeared in the 2026 budget if it did not exist. He alleged that the former House of Representatives Speaker got ₦400 million from him through a proxy and asked for another ₦200 million to enable him to get the appointment.
Prosecutors have accused him of forgery of several government documents, including a presidential appointment letter-headed paper.
But he has denied any wrongdoing, insisting he was appointed.
“If I’m wrong, let the court of law do that, and if I’m right, let the court of law do that; do the right thing,” he said on an edition of Channels Television’s Politics Today.
