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PFIPC scandal: Ministry disowns council as Reps summon Ribadu

From The Punch · () English

Summarized and contextualized by DistantNews.

At a glance

News Named sources Under investigation
  • The Federal Ministry of Foreign Affairs has disassociated itself from the Presidential Foreign Investment Promotion Council (PFIPC), stating it does not recognize the organization or its alleged Director-General, Prince Adeniyi Adeyemi.
  • The ministry informed a House of Representatives committee that it rejected multiple requests for collaboration from the PFIPC due to concerns about its authenticity and Adeyemi's legitimacy.
  • An inquiry by the Office of the National Security Adviser confirmed that Adeyemi is unknown to the Federal Government, prompting the ministry to refuse any dealings with the PFIPC.

The Federal Ministry of Foreign Affairs has officially distanced itself from the controversial Presidential Foreign Investment Promotion Council (PFIPC), informing the House of Representatives that it neither recognizes the council nor has any official dealings with its alleged Director-General, Prince Adeniyi Adeyemi. This disclosure came during a resumed hearing of the House Ad-Hoc Committee investigating the legality and activities of the PFIPC, which is under scrutiny for allegedly operating without legal backing or official Federal Government recognition.

The ministry rejected repeated requests by the organisation after due diligence raised questions about its authenticity.

— Ambassador Dunoma AhmedPermanent Secretary of the Ministry of Foreign Affairs, explaining the ministry's stance on the PFIPC to the House committee.

Ambassador Dunoma Ahmed, Permanent Secretary of the Ministry of Foreign Affairs, represented the Minister and informed the committee that the ministry rejected repeated requests for collaboration from the PFIPC. These requests, submitted on June 26, 2025, August 5, 2025, and June 5, 2026, sought endorsement to organize a World Investment Summit in Nigeria. The ministry declined these requests after due diligence raised significant questions about the organization's authenticity and Adeyemi's purported leadership.

Enquiries made through the Office of the Secretary to the Government of the Federation and the Office of the Chief of Staff to the President established that Adeyemi was unknown to the Federal Government.

— Ambassador Dunoma AhmedReporting the findings from the Office of the National Security Adviser regarding Adeniyi Adeyemi.

Further inquiries made by the ministry to the Office of the National Security Adviser (ONSA) on October 16, 2025, yielded a response on November 26, 2025. The ONSA confirmed that investigations through the Office of the Secretary to the Government of the Federation and the Office of the Chief of Staff to the President established that Adeyemi was unknown to the Federal Government. Consequently, the Ministry of Foreign Affairs has no official records related to the PFIPC and has never participated in any engagements involving the council or facilitated meetings with foreign governments or investors.

Apart from the correspondence already submitted to the committee, “the ministry has no official records relating to the PFIPC.”

— Ambassador Dunoma AhmedStating the lack of official documentation concerning the PFIPC within the ministry.
DistantNews Editorial

Originally published by The Punch. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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