The Nigeria Police investigation has revealed how Prince Adeniyi Adeyemi, the Director-General of an alleged fictitious Presidential Foreign Intervention Promotion Council (PFIPC) spent the N400 million he allegedly obtained under the guise of facilitating a government contract.

According to the police report dated July 24, 2026, the funds were allegedly used to purchase personal vehicles, make transfers to relatives and finance personal expenses and donations.

The police said its investigation found no evidence to support Adeyemi’s claim that the N400 million was converted to United States dollars and handed over to the Chief of Staff to the President, Femi Gbajabiamila, through a late associate, Babatunde Dolapo Tanimola.

These findings were contained in an investigation into allegations bordering on criminal conspiracy, forgery, impersonation, obtaining money under false pretences, theft of public funds and money laundering.

Recall that the investigation was initiated following petitions by Gbajabiamila over alleged fraudulent activities by Adeyemi, who reportedly presented himself as the Director-General of the purported Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council.

The police said Adeyemi allegedly obtained N380 million in four tranches from Divine Dopacy Nigeria Limited, owned by a businessman, Oyekunle Gbenga Collins.

It claimed that the businessman was allegedly induced to release the money on the promise that Adeyemi would facilitate a N2.8 billion contract for the renovation of an official residence purportedly allocated to his office by the Economic and Financial Crimes Commission.

An additional N20 million was allegedly traced to an account operated by Adeyemi’s Sunshine Confectionary and Catering Services, bringing the amount traced to the alleged transaction to N400 million.

Rather than converting the money to dollars and transferring it to Gbajabiamila as allegedly claimed, the police said Adeyemi used the proceeds to acquire two personal vehicles and moved substantial amounts into his personal accounts and those of family members.

The report stated that analysis of Adeyemi’s World Entre University Nigeria Limited account with GTBank showed the four separate inflows totalling N380 million.

It added that the suspect also allegedly obtained a N100 million loan from a microfinance bank, which investigators said helped sustain his expensive lifestyle.

The police said the financial trail contradicted Adeyemi’s account of the source and destination of the money.

Investigators also identified inconsistencies in his explanation of how he secured his purported government appointment.

According to the report, Adeyemi claimed at one point that his appointment was secured in March 2024, while also alleging that the N400 million payment was made to facilitate an appointment in 2025.

The police said no transaction was found showing that Gbajabiamila received money from Adeyemi.

It also established that the appointment letters and other documents allegedly used by Adeyemi to give legitimacy to the fictitious agency were forged.

The police said forensic handwriting analysis confirmed that the signatures on disputed documents were not those of Gbajabiamila.

Similarly, Segun Imohiosen, a former Director of Information and Public Relations in the Office of the Secretary to the Government of the Federation, reportedly denied signing a document purportedly conveying the mandate and terms of reference for the agency.

According to the police, Imohiosen confirmed that the signature on the document was not his and that his office did not issue the purported mandate.

Investigators subsequently concluded that Adeyemi had forged a letter of appointment purportedly signed by Gbajabiamila as well as a purported law establishing the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council.

The police alleged that the forged documents were subsequently introduced into various government offices, including the Offices of the Secretary to the Government of the Federation, Head of the Civil Service of the Federation, Accountant-General of the Federation and Director-General of the Budget Office.

It said officials failed to conduct adequate due diligence before processing requests submitted by Adeyemi.

As a result, the fictitious agency allegedly obtained an Administrative Code, office space at the Federal Secretariat, official vehicles, an authorised establishment, a waiver to recruit about 300 employees, secondment of government officers and permission to open dollar and pound sterling accounts with the Central Bank of Nigeria.

Investigators further found that a request for an Administrative Code purportedly signed by one Akanbi Adewale, described as Director of Administration and Support Services at the State House, did not emanate from the Presidency.

The police said investigation established that neither the purported signatory nor the department existed in the State House organogram.

As part of the investigation, five senior government officials were questioned over their alleged roles in facilitating activities linked to the fictitious council.

They included two directors attached to the Offices of the Accountant-General of the Federation and Head of the Civil Service of the Federation, a Special Assistant in the Budget Office, an Assistant Director in the Ministry of Budget and Economic Planning and an official seconded from the Office of the Secretary to the Government of the Federation.

The police reportedly recommended that their cases be considered for prosecution, subject to the legal advice of the Director of Public Prosecutions.

Twenty-two other individuals whose names emerged during the investigation were also questioned, while statements were obtained from the complainant and seven witnesses.

The investigation was initially triggered by a petition submitted by Gbajabiamila to the Department of State Services in October 2025 and subsequently referred to the police for investigation.

Adeyemi was arrested on October 27, 2025, and was later charged to court in November 2025 over allegations of criminal conspiracy and forgery.

A fresh petition by Gbajabiamila dated June 29, 2026 was subsequently referred to the Nigeria Police Force National Cybercrime Centre for discreet investigation.

The police also alleged that Adeyemi used the fictitious agency to solicit money from members of the public by promising to facilitate diplomatic passports, note verbales and visas.

It said the report has been forwarded to the Office of the Attorney-General of the Federation and Minister of Justice, as well as relevant security agencies and ministries, departments and agencies for further action.