Police investigation reveals how fake agency DG Prince Adeniyi Adeyemi allegedly spent N400m, forged official documents and secured government approvals
Fake Agency DG Blew N400m on Cars, Relatives, After Allegedly Infiltrating — Police
The Nigeria Police Force has uncovered how Prince Adeniyi Adeyemi Matthew, who allegedly paraded himself as the Director-General of a fictitious Presidential Economic Advisory Council (PEAC)/Presidential Foreign Intervention Promotion Council (PFIPC), spent N400 million obtained under false pretences on vehicles, family members and personal expenses.
According to the police investigation report, Adeyemi did not convert the N400 million to dollars or hand it over to the Chief of Staff to the President, Femi Gbajabiamila, as he allegedly claimed.
Instead, the police said analysis of his bank accounts showed that the money was spent and transferred to personal accounts and family members.
The investigation also revealed that Adeyemi allegedly secured another N100 million loan from a microfinance bank and obtained unspecified sums from members of the public under the guise of providing diplomatic passports, note verbales and visas.
The findings are contained in an Interim Investigation Report dated July 24, 2026, obtained by The Nation and subsequently made available to the Office of the Attorney-General of the Federation and Minister of Justice, security agencies and relevant Ministries, Departments and Agencies.
The police had investigated allegations of criminal conspiracy, forgery, impersonation, obtaining money under false pretences, theft of public funds and money laundering following petitions filed by Gbajabiamila.
The investigation also identified five government officials who allegedly played significant roles in facilitating the activities of the suspected fake agency. They include two directors in the Office of the Accountant-General of the Federation and the Office of the 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 a seconded staff member from the Office of the Secretary to the Government of the Federation.
The police said 22 additional suspects whose names emerged during the investigation were also interrogated.
The report traced the investigation to a petition dated October 17, 2025, in which Gbajabiamila alerted the authorities to alleged fraudsters and impostors circulating appointment letters purportedly issued by him.
The police said the Inspector-General of Police subsequently directed the IGP Monitoring Unit to investigate the matter, leading to Adeyemi’s arrest on October 27, 2025.
“His statement was obtained under words of caution in which he claimed that he got the fake appointment letter from one Babatunde Dolapo Tanimola (late). The suspect was subsequently charged to Court in November, 2025 for the offences of Criminal Conspiracy and Forgery,” the report stated.
According to the police, Adeyemi allegedly used his fictitious position to secure an office at the Federal Secretariat Complex in Abuja, obtain a recruitment waiver for about 300 employees and facilitate the inclusion of N1.3 billion for the purported agency in the 2026 Appropriation Act.
He also allegedly planned a World Investment Summit under the name of the fictitious agency.
The police said the suspect’s activities were facilitated by forged documents, including an appointment letter purportedly signed by Gbajabiamila and a purported Act establishing the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council.
Investigators obtained Gbajabiamila’s specimen signature and submitted it for forensic examination alongside disputed documents.
The police said the forensic examination confirmed that the signature on the disputed appointment documents was not that of the Chief of Staff to the President.
“Response letter No.CR: 3000/X/FCID/FHQ/ABJ/VOL.9/30 dated 18th March, 2026 from Handwriting Experts sent to the IGP-Monitoring Unit through Deputy-Inspector-General of Police, Force Criminal Investigation letter No. (FCID) “CR:3000/X/FHQ/ABJ/VOL.324/76 dated 31st March, 2026 confirmed that the signatures on the disputed documents are not the same with the signature of the complainant. This confirms the purported letters of appointment were not issued by the complainant,” the police said.
The investigation also involved Segun Imohiosen, a former Director of Information and Public Relations in the Office of the Secretary to the Government of the Federation, whose purported signature appeared on a mandate and terms of reference document for the fictitious agency.
According to the police, Imohiosen denied signing the document and provided his specimen signature for forensic examination.
“Investigation revealed that the Principal suspect, Prince Adeniyi Adeyemi Matthew forged a letter of appointment purportedly signed by the Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila and a purported Act establishing the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council, CHAPTER N2117,” the report stated.
The police alleged that Adeyemi subsequently smuggled the forged documents into the offices of the Secretary to the Government of the Federation, the Head of the Civil Service of the Federation, the Accountant-General of the Federation and the Director-General of the Budget Office.
The report said the documents were processed without adequate due diligence, allowing the fictitious agency to obtain an Administrative Code, office accommodation at the Federal Secretariat, official vehicles, an authorised establishment, approval to recruit 300 staff, secondment of officers, two Central Bank of Nigeria accounts denominated in US dollars and British pounds, provisional self-accounting status and inclusion in the 2026 budget.
“The staff in these offices failed to conduct due diligence, thereby allowing the forged documents smuggled by the principal suspect to get approvals,” the police said.
The investigators also found that a request for an Administrative Code purportedly signed by one Akanbi Adewale, said to be a Director of Administration and Support Services at the State House, did not originate from the State House.
According to the police, both the alleged signatory and the department were not part of the State House organogram.
The investigation further traced N400 million allegedly paid to Adeyemi by businessman Gbenga Oyekunle Collins in connection with a purported N2.87 billion renovation contract.
The police said analysis of an account belonging to Adeyemi’s World Entre University Nigeria Ltd showed that N380 million was received in four tranches from Divine Dopacy Nigeria Ltd, owned by Collins.
The businessman was allegedly lured into releasing the money on the false promise that Adeyemi would facilitate the award of a N2.8 billion contract for the renovation of an official residence allegedly allocated to him by the Economic and Financial Crimes Commission.
“Further analysis on the account revealed that the suspect used the proceeds for the purchase of two (2) personal vehicles and equally transferred large sum from the proceeds to his personal accounts and other family members which was subsequently laundered against his claim of converting the total N400 million to USD and handed over to the complainant (Gbajabiamila) through late Babatunde Dolapo Tanimola,” the report stated.
The police said another N20 million was paid into Adeyemi’s Sunshine Confectionary and Catering Services account with Access Bank by the same company.
The report said the money was also allegedly spent on personal expenses and donations.
The police further alleged that Adeyemi obtained a N100 million loan from a microfinance bank and collected additional funds from unsuspecting members of the public by promising to secure diplomatic passports, note verbales and visas for them.
Investigators also identified five government officials who they said played a major role in facilitating the alleged offences.
The report stated: “Investigation further revealed that some key staff of ministries agencies played major role in facilitating the commission of the offences.”
The police said the officials could face prosecution, subject to the advice of the Director of Public Prosecution.
“The Force has forwarded an Interim Investigation Report to the Hon. Attorney-General and Minister of Justice of the Federation requesting him to amend the previous charge filed by the Police Monitoring Unit, to include the newly established facts and the duplicate case file be forwarded to the Director Public Prosecution for vetting, advice and harmonization of all investigations by the various Agencies relating to the fake agency,” the report stated.
The police also asked the Clerk of the National Assembly to provide information on how N1.3 billion was defended and subsequently appropriated for the fictitious agency in the 2026 budget.
The investigation followed multiple petitions from Gbajabiamila, who alleged that Adeyemi had been using forged government documents and impersonating officials to gain access to government institutions and secure financial benefits.
The police investigation has now expanded beyond Adeyemi to government officials and other suspects whose alleged roles emerged during the probe.
