Nigeria: President Tinubu calls for an investigation into the "real fake" state agency scandal

In Nigeria, President Bola Tinubu ordered the swift opening of an investigation into the scandal of the real-fake Presidential Council for the Promotion of Foreign Investment.

The scandal surrounding the allegedly "fictitious" state agency that operated in Nigeria between 2024 and 2025 is under scrutiny by the head of state. Specifically, a man, Prince Adeniyi Adeyemi, is accused of forging official letters bearing the signature of the president's chief of staff in order to establish a Presidential Foreign Investment Promotion Council (PFIPC), of which he claimed to be the director. Today, this man is accused of having completely fabricated his mission in order to obtain funding amounting to several hundred thousand euros of public money.

That is why President Bola Tinubu demanded that an investigation be opened, the conclusions of which must be delivered within thirty days, to establish responsibility in the scandal of this "fake state agency".

The discovery of this alleged phantom agency raises serious questions about the credibility of the Nigerian institutions that allowed this "Presidential Council" to acquire premises and staff, open bank accounts and even benefit from an operating budget of more than 800,000 euros in 2026, without any control being carried out.

The main suspect, Adeniyi Adeyemi, who presented himself as the director of this fictitious agency, is on the run and wanted by the police. He categorically denies having falsified official letters and accuses the president's chief of staff, Femi Gbajabiamila, of trying to "silence him."

According to Adeniyi Adeyemi, he allegedly tried to appropriate half of the annual budget of the Presidential Council for the Promotion of Foreign Investment.

On Wednesday, the Nigerian Parliament announced the creation of a committee to investigate how this organization was able to obtain such allocations of public funds. The chairman of the parliamentary group responsible for national security and intelligence described the situation as "a serious threat to the integrity of the budget process in Nigeria."