The embattled Director-General of the controversial Presidential Foreign Investment Promotion Council (PFIPC), Adeniyi Adeyemi, has urged President Bola Tinubu to establish an independent panel to investigate the controversy surrounding the council.
In an open letter addressed to the President, Adeyemi argued that the Independent Corrupt Practices and Other Related Offences Commission (ICPC), which was directed to investigate the matter, may not be viewed as entirely impartial because it operates under the executive arm of government.
According to him, an investigation conducted solely by a government agency could raise questions about its independence, particularly where senior government officials are alleged to be connected to the matter.
To ensure credibility and public confidence, Adeyemi proposed the creation of a multi-stakeholder investigative panel comprising representatives of civil society organisations, independent media, international human rights bodies and foreign financial experts.
He also recommended that observers from the United Nations, the United States, the United Kingdom, the European Union, the African Union and ECOWAS be invited to monitor the process, while suggesting that the ICPC and the Economic and Financial Crimes Commission (EFCC) should participate only in technical capacities.
Adeyemi maintained that he was prepared to present documentary evidence and other records once an independent panel had been constituted.
Although he welcomed President Tinubu’s decision to review issues surrounding the PFIPC and the ₦1.3 billion allocation contained in the 2026 Appropriation Act, Adeyemi expressed concerns about his personal safety.
He alleged that he had received credible information indicating a plot to eliminate him if he surrendered himself to law enforcement authorities under the current circumstances.
To support his claim, Adeyemi referred to the death of Dolapo Babatunde Tanimola, whom he described as a mediator in the dispute. While authorities attributed Tanimola’s death to a hotel fire in Utako, Abuja, Adeyemi questioned the official account, citing the absence of independent eyewitness reports or media verification.
He also raised concerns over the demolition of the hotel shortly after the incident, alleging that the action may have destroyed evidence that could have aided any future investigation.
The controversy surrounding the PFIPC has continued following the Presidency’s insistence that the council does not exist and allegations that documents relating to the organisation, including official letterheads and presidential appointment papers, were forged.
Adeyemi had previously accused the President’s Chief of Staff, Femi Gbajabiamila, and other senior government officials of attempting to dismantle the council after he allegedly refused to comply with unauthorised directives.
He also questioned how an organisation described as non-existent could have secured a budgetary allocation running into billions of naira. Adeyemi claimed he had spent about ₦400 million through intermediaries and rejected a further request for ₦200 million.
During a recent interview on Channels Television, Adeyemi said he was ready to defend himself through the judicial process and expressed confidence that the courts would determine the legitimacy of his actions.
