The controversy surrounding the disputed Presidential Foreign Intervention Promotion Council (PFIPC) took another dramatic turn on Monday after its self-proclaimed Director-General, Prince Adeniyi Adeyemi, claimed he borrowed ₦400 million to allegedly secure his appointment, saying the lenders have now petitioned the Economic and Financial Crimes Commission (EFCC) over the unpaid debt.
Adeyemi made the disclosure during an appearance on Politics Today, a Channels Television programme, where he insisted that the money was raised specifically to facilitate his appointment and denied suggestions that he had fabricated the allegations.
“I borrowed this money, the ₦400 million, to pay for this appointment. In fact, those that I borrowed the money from have reported me to the EFCC to refund it,” he said.
The claim is the latest in the escalating controversy over the PFIPC, an entity the Presidency has described as fictitious, but which Adeyemi maintains was legitimately established.
Responding to questions about reports alleging that a United States-based lobbying firm was helping him seek political asylum abroad, Adeyemi dismissed the speculation, saying: “I read it the way you read it.”
During the interview, Adeyemi also alleged that his life was under threat, insisting he was not in hiding but was avoiding public appearances because of security concerns. He maintained that he was prepared to defend his claims in court.
The PFIPC controversy has dominated public discourse in recent weeks after the Presidency accused Adeyemi of forging official documents, impersonating government officials and presenting himself as the head of a non-existent federal agency.
According to the Presidency, police investigations have resulted in an eight-count criminal charge against Adeyemi and two others, including allegations of forgery, impersonation and obtaining by false pretence. The government has also alleged that the disputed council fraudulently secured office space within the Federal Secretariat and opened accounts with the Central Bank of Nigeria and several commercial banks using forged documents.
The controversy intensified after Adeyemi accused the Chief of Staff to the President, Femi Gbajabiamila, of receiving ₦400 million through an intermediary to facilitate his appointment and later demanding an additional ₦200 million.
Gbajabiamila has strongly denied the allegations, describing them as false and defamatory. Through his legal representatives, he demanded a public retraction and apology from Adeyemi and threatened a ₦10 billion defamation suit if the allegations are not withdrawn.
Meanwhile, the House of Representatives has commenced an investigation into how the disputed agency allegedly appeared in the 2026 federal budget with an allocation exceeding ₦1.3 billion. Lawmakers said the matter raises serious concerns about the integrity of Nigeria’s budgeting process and the operations of public institutions.
Budget documents cited by Adeyemi indicate that an entity listed as the “Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council” was allocated approximately ₦1.303 billion for personnel, overhead and capital expenditure in the 2026 Appropriation Act. The government, however, maintains that the council has no legal existence and that its inclusion is part of the issues now under investigation.
Adeyemi has separately called on President Bola Tinubu to establish an independent, multi-stakeholder panel to investigate the controversy, saying he is willing to present evidence in support of his allegations.
The unfolding scandal has become one of the most closely watched political controversies in recent months, prompting investigations by lawmakers and renewed calls for anti-corruption agencies to determine how a disputed agency allegedly secured budgetary allocations, government office space and official recognition within the federal bureaucracy.