ABUJA — The Federal High Court in Abuja has remanded 38-year-old Prince Adeniyi Adeyemi, the self-styled Director-General of the unauthorized “Presidential Foreign Investment Promotion Council” (PFIPC), at the Kuje Custodial Centre following his formal arraignment on an eight-count criminal charge.
Presiding Judge Justice Mohammed Umar ordered the defendant’s remand after he entered a “not guilty” plea to all charges bordering on conspiracy, impersonation, and the forgery of official presidential documents—including letterhead papers and appointment letters bearing forged signatures of President Bola Ahmed Tinubu and Chief of Staff Femi Gbajabiamila.
The prosecution presented evidence detailing how Adeyemi allegedly operated the fake parallel entity to issue fraudulent letters requisitioning land and offices across 36 states, soliciting funding, and attempting to open staff bank accounts under the pretext of an official executive commission.
Justice Umar declined to entertain the defendant’s oral bail application during Wednesday’s session, directing defense counsel to file a formal written application while setting October 12, 2026, for the joint hearing of the bail application and the commencement of the substantive trial.
The court’s remand order comes following Adeyemi’s recent arrest by operatives of the Police Intelligence Response Team (IRT) at a hideout in Osun State, ending months of evasion after a bench warrant was issued for his failure to appear for scheduled court proceedings.
