Police: Fake Agency DG Blew N400m, Forged Gbajabiamila’s Signature, Act
The Nigeria Police Force has uncovered how Prince Adeniyi Adeyemi Matthew, alleged to have posed as the Director-General of a fictitious Presidential Economic Advisory Council (PEAC)/Presidential Foreign Intervention Promotion Council (PFIPC), allegedly spent N400 million obtained under false pretences on vehicles, family members and other personal expenses.
According to a Police Investigation Report dated July 24, 2026, obtained by The Nation, Adeyemi also obtained a N100 million loan from a microfinance bank to sustain his lifestyle, while allegedly collecting unspecified sums from members of the public under the guise of facilitating diplomatic passports, note verbales and visas.
The police said investigations also established that 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 had allegedly claimed.
The investigation further implicated five government officials accused of facilitating the activities of the fake agency by processing and approving requests without adequate due diligence. 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 staff member seconded 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, while the five government officials have been recommended for possible prosecution, subject to the advice of the Director of Public Prosecutions.
The investigation followed a petition by Gbajabiamila alleging that Adeyemi had been parading himself as the Director-General of the fictitious PEAC/PFIPC and using forged appointment letters purportedly signed by the Chief of Staff.
The police said the investigation began after Gbajabiamila’s petition dated October 17, 2025, was forwarded to the Inspector-General of Police. Adeyemi was arrested by the IGP Monitoring Unit on October 27, 2025, and subsequently charged to court in November 2025 for alleged criminal conspiracy and forgery.
A further petition by Gbajabiamila dated June 29, 2026, prompted additional investigation by the Nigeria Police Force National Cybercrime Centre following a directive from the Inspector-General of Police.
The police said Adeyemi allegedly used the fictitious agency to secure an office at the Federal Secretariat Complex, obtain a recruitment waiver for about 300 staff, secure an Administrative Code, open foreign currency accounts with the Central Bank of Nigeria and secure inclusion of N1.3 billion for the agency in the 2026 Appropriation Act.
The agency also allegedly obtained official vehicles, an authorised establishment, secondment of government officials and provisional self-accounting status for six months.
The police investigation revealed that Adeyemi allegedly forged an appointment letter purportedly signed by Gbajabiamila as well as a purported Act establishing the PEAC/PFIPC, which bore the designation “CHAPTER N2117”.
The forged documents were allegedly introduced 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 of the Federation.
According to the police, officials in the affected offices processed and approved several requests made by Adeyemi, allowing the fictitious agency to obtain government recognition and facilities.
The police said forensic analysis confirmed that the signatures on the disputed documents were not those of Gbajabiamila.
A handwriting expert’s report dated March 18, 2026, reportedly confirmed that the signatures on the documents were different from the Chief of Staff’s specimen signature.
The police also said Segun Imohiosen, a former Director of Information and Public Relations in the Office of the Secretary to the Government of the Federation, denied signing a purported mandate and terms of reference for the alleged Presidential Foreign Investment Promotion Council.
The investigation further established that a purported request for an Administrative Code, allegedly signed by one Akanbi Adewale, Director of Administration and Support Services at the State House, did not emanate from the State House.
According to the police, investigations showed that neither the purported signatory nor the department existed in the State House organogram.
The police also raised questions over how an original response concerning the Administrative Code, addressed to the State House by the Office of the Accountant-General of the Federation, came into Adeyemi’s possession despite the fact that he was not a State House employee.
How N400m was allegedly spent
The police said analysis of Adeyemi’s World Entre University Nigeria Limited account with GTBank showed that he received N380 million in four tranches from Divine Dopacy Nigeria Limited, owned by Oyekunle Gbenga Collins.
According to the report, Collins was allegedly induced to part with the money after Adeyemi falsely represented that he could facilitate the award of a N2.8 billion contract for the renovation of an official residence allegedly allocated to his office by the EFCC.
The police said Adeyemi allegedly used part of the proceeds to purchase two personal vehicles and transferred substantial amounts to his personal accounts and those of family members.
A further N20 million was reportedly transferred to Adeyemi’s Sunshine Confectionary and Catering Services account by the same company.
The police said the transactions contradicted Adeyemi’s claim that the N400 million had been converted to dollars and handed to Gbajabiamila through the late Babatunde Dolapo Tanimola.
The investigation also revealed that Adeyemi allegedly used the fictitious agency to award a N2.87 billion contract for the refurbishment of a property allegedly allocated to his office by the EFCC, using the purported contract as a basis to obtain the N400 million facilitation fee.
Five government officials implicated
The police identified five government officials whose actions allegedly facilitated the activities of the fake agency.
They include two directors from 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 staff member seconded from the Office of the Secretary to the Government of the Federation.
The police said the officials failed to conduct the necessary due diligence before processing requests based on the forged documents.
The report stated that their actions enabled the fictitious agency to obtain government recognition, office space, official vehicles, recruitment approval and budgetary allocation.
The police said it had forwarded an interim investigation report to the Attorney-General of the Federation and Minister of Justice, requesting that the existing charge against Adeyemi be amended to reflect newly established facts.
It also requested that the duplicate case file be forwarded to the Director of Public Prosecutions for legal advice and harmonisation with investigations conducted by other agencies.
The police further asked the Clerk of the National Assembly to provide information on the circumstances surrounding the defence and eventual passage of the N1.3 billion allocation for the fictitious agency in the 2026 Appropriation Act.