Prince Adeniyi Adeyemi, who allegedly presented himself as the Director-General of the controversial Presidential Foreign Investment Promotion Council (PFIPC), has been arraigned before the Federal High Court in Abuja over allegations of forgery, fraud and impersonation.
Adeyemi was brought before Justice Mohammed Umar on Wednesday and charged with eight counts relating to the alleged falsification of official documents and other offences.
He pleaded not guilty to all the charges.
Following the arraignment, the court ordered that Adeyemi be remanded at the Kuje Correctional Centre pending the commencement of the substantive hearing on October 12.
Adeyemi had been in detention since July 14 after his arrest on the strength of a bench warrant issued by the court.
The case is now being prosecuted by the Office of the Attorney-General of the Federation and Minister of Justice after the Federal Government took over the matter from the police. The Director of Public Prosecutions of the Federation, Rotimi Oyedepo, SAN, is leading the prosecution.
The prosecution requested an accelerated hearing of the case.
However, counsel to Adeyemi, Genesis Francis, was unable to secure consideration of his client’s bail application on Wednesday.
Francis urged the court to consider the bail request, arguing that Adeyemi was suffering from a contagious illness and had a medical appointment scheduled for Friday.
The prosecution opposed the request, maintaining that the government had adequate medical facilities to attend to the defendant’s health needs while in custody.
Justice Umar subsequently ruled that the bail application would be considered on the next adjourned date.
Among the witnesses expected to testify are the Chief of Staff to the President, Femi Gbajabiamila; Paul Emmanuel; Jeremiah Imoukhede; and Ituah Sylvester.
Other proposed witnesses include officials of the Office of the Accountant-General of the Federation, including Akimbo Shola and Adamu Balongu, as well as a Deputy Superintendent of Police.
The allegations against Adeyemi followed a police investigation into documents allegedly used to create the impression that the PFIPC was a legitimate Federal Government agency.
According to an interim police investigation report, 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 activities involving forged appointment letters purportedly issued from the office.
The police said preliminary findings indicated that the documents allegedly contained falsified signatures, reference numbers, official seals and the Nigerian Coat of Arms.
The documents were allegedly used to appoint individuals into the PFIPC, which investigators described as a non-existent agency.
Adeyemi was identified as the principal suspect and was alleged to have presented himself as the council’s Director-General while operating from an office at the Federal Secretariat Complex, Phase III, Abuja.
Another person allegedly connected to the matter, Dolapo Babatunde Tanimola, reportedly died in a fire at a hotel in Abuja.
Adeyemi has, however, denied allegations that the PFIPC was non-existent.
Before his arrest, he granted an interview to Channels Television from an undisclosed location, where he said he had stayed away from public view because of alleged threats to his life.
He also denied that he was avoiding law enforcement authorities to escape investigation.
Adeyemi had further alleged that he paid N400 million through a proxy to Gbajabiamila to secure his appointment as Director-General of the disputed council. Gbajabiamila has been named by the prosecution as one of the expected witnesses in the case.
According to Adeyemi, individuals from whom he allegedly borrowed the N400 million subsequently petitioned the Economic and Financial Crimes Commission over the matter.
The defendant has also called for an independent, multi-stakeholder investigation into the controversy surrounding an alleged N1.3 billion budgetary provision for the PFIPC in the 2026 Appropriation Bill.
In an open letter to President Bola Tinubu, Adeyemi said he was ready to provide documentary evidence and cooperate fully with investigators if an independent panel was established.
He proposed that such a panel should include representatives of civil society organisations, the Nigerian Bar Association, independent media organisations, international financial institutions, human rights organisations, diplomatic missions, the Independent Corrupt Practices and Other Related Offences Commission and the EFCC.
Adeyemi said his decision to remain out of public view was also influenced by the circumstances surrounding Tanimola’s death, whom he described as an important intermediary in the matter.
One of the charges against Adeyemi alleges that he and two other individuals, identified only as Femi and Anu, who are said to be at large, forged presidential letter-headed papers on March 8, 2024, within the jurisdiction of the Federal High Court.
Another count alleges that they forged a request for collaboration with a ministry concerning land requisition and office facilities across the 36 states of the federation, purportedly issued by the State House in Abuja.
The alleged offences are said to be punishable under Section 1(2)(c) of the Miscellaneous Offences Act, Cap M17, Laws of the Federation of Nigeria.
The court adjourned the matter until October 12 for further proceedings.
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