IBADAN — Police operatives have arrested the father and a family friend of Prince Adeyemi Adeniyi, the self-acclaimed Director-General of the disputed Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council, PFIPC, in Ogbomoso, Oyo State.
The arrest was carried out on Monday by officers linked to the Force Criminal Investigation Department, FCID, Abuja, according to human rights lawyer Femi Falana, SAN, and confirmed by residents in the area.
Police have stormed the house of the parents of Prince Adeyemi Adeniyi at Plot 3, Adeniyi Dynasty, behind Technical College, Road Safety Area, Ogbomoso. The father has been arrested. The young man has promised to show up in court, so why arrest his father?” he said.
Residents said about four police vehicles arrived at the home, took the elderly man and a visitor away, and left his wife in shock.
Adeyemi is currently facing charges of forgery, impersonation and related offences before a Federal High Court in Abuja. He allegedly created and operated a fake presidential council.
The controversy started in October 2025 after the Nigerian Investment Promotion Commission, NIPC, raised concerns that the purported PFIPC was performing functions similar to its own. The Office of the Chief of Staff to the President then petitioned security agencies, alleging forged appointment letters and documents.
The Presidency has repeatedly disowned PFIPC, stating that no such agency exists under President Bola Tinubu’s administration.
No CBN Account, No Funds Released
In a new twist, the Office of the Accountant-General of the Federation, OAGF, clarified that PFIPC never completed the process to open a CBN account.
Director of Public Relations, Bawa Mokwa, said an application was started after Adeyemi presented an appointment letter, but it stalled because authorized signatory details were never submitted.
“The account has not seen the light of day. It has not received one kobo because it was never fully activated. The Accountant-General has not released any money,” Mokwa said.
He also debunked claims that salaries were paid to PFIPC staff, noting that federal agencies must get approvals from the Federal Character Commission, Budget Office, and Federal Civil Service Commission before payroll enrollment. None of those were obtained.
Despite the denials, the 2026 Appropriation Act listed “Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council” under the Presidency with an allocation of N1,302,978,784.
The breakdown: N802,978,783 for personnel, N200,000,001 for overhead, and N300,000,000 for capital projects.
The budget inclusion has raised questions from opposition leaders, including Atiku Abubakar and Peter Obi, who are calling for an independent probe into how a “non-existent” agency got budgetary provision
Oyo Police Command spokesperson, DSP Ayanlade Olayinka, said the case is under the jurisdiction of FCID, Abuja, and referred inquiries to the Force Public Relations Officer.Adeyemi remains at large but has reportedly pledged to appear in court. The investigation
