The embattled Director-General of the disowned Presidential Foreign Investment Promotion Council (PFIPC), Prince Adeniyi Adeyemi Matthew, has claimed that the ₦400 million he allegedly paid to secure his appointment was borrowed and that his creditors have petitioned the Economic and Financial Crimes Commission (EFCC) to recover the money.
Adeyemi made the claim during an interview on Channels Television’s Politics Today on Monday, saying the funds were obtained through loans rather than from his personal resources.
“I borrowed this money. In fact, those I borrowed it from have reported the matter to the EFCC. They have written to the commission asking me to refund their money. I borrowed this money to pay for this appointment,” he said.
His comments come weeks after he alleged that the Chief of Staff to the President, Femi Gbajabiamila, received ₦400 million through a proxy to facilitate his appointment as head of the PFIPC—an agency the Presidency has maintained does not exist.
Gbajabiamila, through his lawyers, has denied the allegation, describing it as false and threatening legal action against Adeyemi.
Speaking during the interview, Adeyemi criticised the government’s handling of the controversy, alleging that unnamed officials were trying to portray him as the mastermind of a fraudulent scheme.
“It is unfortunate that the government is claiming I manoeuvred the whole system,” he said.
He also denied reports that he was seeking asylum abroad with the assistance of a United States lobbying firm, saying he only became aware of the claims through media reports.
“I read it the way you read it. Some people called me saying they were looking for me,” he said.
Adeyemi further alleged that his social media accounts had been taken down, limiting his ability to respond to developments surrounding the controversy.
“They brought down my social media handles, so I no longer know much about what is going on. I only get information from family and friends,” he said.
He also dismissed speculation that he intended to flee Nigeria to evade investigation.
“I’m still in Nigeria. I’m not going anywhere,” he stated.
The PFIPC controversy began after the Presidency, in a statement issued on June 11, disowned the council, saying no such agency existed under the Tinubu administration and describing Adeyemi as an impostor.
The Presidency later alleged that police investigations uncovered forged presidential appointment letters purportedly signed by the Chief of Staff to the President. It also accused Adeyemi of operating a fictitious government agency and maintaining 34 bank accounts, including nine allegedly opened in the names of non-existent government agencies.
Despite the allegations, Adeyemi has continued to insist that his appointment was legitimate, arguing that he operated publicly for nearly three years, held meetings with ministries, departments and agencies, and engaged with officials of the EFCC, the Ministry of Foreign Affairs and foreign delegations.
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