Nigerian police have arrested Adeniyi Adeyemi Matthew, the man behind a fake government agency known as the "Presidential Foreign Investment Promotion Council" (PFIPC), which operated out of the presidency's office for nearly two years. Adeyemi was detained in Osun State, southwestern Nigeria, after a Federal High Court in Abuja issued a warrant on Tuesday, July 15th, 2026.

Adeyemi had previously skipped a hearing on charges of forgery and impersonation. Prior to his arrest, he denied any wrongdoing in interviews with local media.

The PFIPC had opened accounts with the Central Bank of Nigeria and was listed in Nigeria's 2026 budget with an allocation of 1.3 billion naira (approximately $950,000 or £700,000). However, the Accountant-General's Office has stated that the PFIPC never actually operated a central bank account and never received public funds or salaries.

Police officers from the Force Intelligence Department and the Intelligence Response Team carried out the arrest. The case gained significant attention in Nigeria after President Bola Tinubu ordered a probe into the agency last week.

Sources