ABUJA, Nigeria — Nigeria’s House of Representatives has intensified its investigation into the controversial Presidential Foreign Investment Promotion Council (PFIPC) after the Accountant-General of the Federation disclosed that a forged document allegedly bearing the authority of the State House was used to initiate official government processes for the organization.
The latest development came during a public hearing where lawmakers also directed the Inspector-General of Police to produce the principal suspect, Matthew Adeniyi Adeyemi, before the investigative committee to answer questions surrounding the creation and operations of the alleged agency.
According to lawmakers, the investigation is focused on determining how a body that authorities now describe as unauthorized allegedly succeeded in obtaining official government recognition, processing administrative requests and interacting with several federal institutions.
Accountant-General Explains How the Process Began
Accountant-General of the Federation Shamseldeen Ogunjimi told the House committee that his office first became aware of the organization in November 2024 after receiving what appeared to be an authentic correspondence from the State House.
The letter requested the creation of an administrative code for what was presented as the Presidential Economic Advisory Council (PEAC), a name also associated with the PFIPC during the investigation.
Believing the communication originated from the Presidency, the Office of the Accountant-General followed normal government procedures by creating the administrative code and notifying relevant institutions, including the Office of the Auditor-General.
However, subsequent investigations revealed that the document allegedly did not originate from the State House, making it one of the central pieces of evidence in the ongoing probe.
Government Says No Public Funds Were Released
Although administrative processes were initiated, Ogunjimi maintained that no federal funds were paid to the council.
He informed lawmakers that requests relating to:
- salaries,
- overhead allocations,
- capital expenditure,
- intervention funds,
- and special allocations
were never approved.
The Accountant-General further disclosed that the organization requested an establishment grant of ₦27.4 billion, but the application failed because there was no approved budgetary provision for such funding.
He also confirmed that while the Central Bank of Nigeria (CBN) opened two domiciliary accounts for possible inflows, the accounts never became operational because regulatory conditions were not fulfilled.
Police Confirm Criminal Charges
Representing the Inspector-General of Police before the committee, Assistant Commissioner of Police Basir Abdullahi confirmed that investigators had already completed part of their inquiry and filed an eight-count criminal charge against the suspect before the Federal High Court.
Police said the investigation followed petitions submitted by the Office of the Chief of Staff to the President, alleging that Adeyemi falsely presented himself as the Director-General of both the Presidential Economic Advisory Council and the Presidential Foreign Investment Promotion Council.
Authorities noted that the criminal proceedings remain active, adding that they were limiting public disclosures to avoid affecting the ongoing court case.
Allegations Under Investigation
Police told lawmakers that petitions received during the investigation alleged that the suspect:
- falsely represented himself as the head of the purported councils;
- secured office accommodation within the Federal Secretariat;
- sought approval to recruit approximately 300 personnel;
- allegedly attempted to include about $1.3 billion in the proposed 2026 federal budget for the organization; and
- planned an international investment summit under the platform of the council.
These allegations remain subject to ongoing judicial proceedings.
Committee Raises Concerns Over Forged Government Records
One of the major moments during the hearing came when lawmakers compared signatures appearing on disputed documents with authenticated State House correspondence supplied during the investigation.
Police witnesses confirmed to the committee that the signatures did not match, strengthening suspicions that multiple government documents may have been forged.
Committee Chairman Yusuf Gagdi disclosed that investigators have so far identified approximately 29 documents believed to be forged.
According to the committee, the documents allegedly include approvals attributed to:
- the State House,
- the Office of the Secretary to the Government of the Federation,
- the Office of the Head of the Civil Service,
- the Federal Ministry of Finance,
- and other government institutions.
Several of those agencies have reportedly appeared before lawmakers and denied issuing the documents presented in their names.
Why Lawmakers Want the Suspect Present
The House committee resolved that Adeyemi must personally appear before lawmakers, arguing that the investigation involves the credibility of several public institutions and individuals.
Lawmakers believe his testimony could help verify documents already obtained by the committee and clarify how the organization allegedly operated within parts of the federal bureaucracy.
The committee has formally requested that the Inspector-General of Police ensure the suspect appears before the panel.
Timeline of Key Events
| Date | Development |
|---|---|
| November 7, 2024 | Letter purportedly from the State House requests creation of an administrative code for PEAC. |
| Late 2024 | Administrative code created; further requests submitted to government agencies. |
| October 17, 2025 | Chief of Staff petitions security agencies over alleged impersonation and fraud. |
| 2025–2026 | Police investigation leads to criminal charges before the Federal High Court. |
| Current | House of Representatives continues public investigation into the alleged fake agency. |
Why This Investigation Matters
The investigation raises broader concerns about document verification within Nigeria’s public service.
If allegations are ultimately established in court, the case could expose weaknesses in administrative controls that allowed an unauthorized organization to interact with multiple federal institutions using allegedly forged documents.
The probe may also lead to recommendations aimed at strengthening document authentication, inter-agency verification procedures and oversight mechanisms across government ministries and departments.
At this stage, criminal allegations against the principal suspect remain before the court, and guilt has not been established.
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