Test of Credibility: Gbajabiamila vs. Prince Adeyemi Mathew and the PFIPC Saga
Is this a grand-scale re-enactment of the classic Nigerian scam playing out on the national stage, or a disturbing case of institutional corruption that has spiralled out of control? Nigerians are watching closely as the matter heads to court on 27 July 2026, seeking clarity on a scandal that has gripped public attention and raised fundamental questions about governance, integrity, and accountability.
The PFIPC Controversy
At the centre of the storm is the Presidential Foreign Intervention Promotion Council (PFIPC)— a disputed government agency allegedly established to attract foreign investment. The clash pits Mr. Femi Gbajabiamila, Chief of Staff to President Bola Tinubu, against Prince Adeniyi Adeyemi Mathew, who claims to be the agency’s Director-General.
Two sharply opposing narratives define the dispute:
Prince Adeyemi Mathew’s Allegations
Adeyemi insists the PFIPC is a legitimate entity. He claims he paid ₦400 million to Gbajabiamila through an intermediary to secure his appointment as Director-General, with an outstanding balance of ₦200 million. He further alleges that Gbajabiamila demanded 48% of the agency’s ₦27 billion take-off grant. Adeyemi cites the inclusion of the PFIPC in the 2026 national budget as proof of its official status.
The Presidency’s Counter-Narrative
The Presidency, through Gbajabiamila’s office, has strongly denied all allegations. It describes the PFIPC as a “fictitious” and non-existent agency. Gbajabiamila maintains he was the first to raise the alarm, petitioning the Department of State Services (DSS) and the Nigeria Police on 17 October 2025 to investigate fraudsters and impostors who were forging official documents. The Federal Government has filed an eight-count charge against Adeyemi for forgery and impersonation, labelling him a con artist.
Critical Points of Contention
The saga is riddled with contradictions that challenge institutional credibility:
1. Budgetary Allocation
The PFIPC appears in the 2026 Appropriation Act with an allocation exceeding ₦1.3 billion. This directly contradicts claims that the agency does not exist and raises serious questions about how a “ghost” entity secured a budget line.
2. Official Approvals
Documents show that the Office of the Head of the Civil Service of the Federation granted a recruitment waiver for 300 staff for the PFIPC in August 2025 — suggesting at least partial recognition by government machinery.
3. Financial System Access
Adeyemi claims the agency successfully opened accounts with the Central Bank of Nigeria (CBN), including a Treasury Single Account (TSA). The ability of a supposedly non-existent body to navigate these rigorous bureaucratic and financial processes remains a major unresolved puzzle.
4. **Tragic and Security Dimensions**
The controversy is further clouded by the reported death of Babatunde Tanimola, allegedly an intermediary in the financial dealings. Government spokesman Bayo Onanuga said Tanimola perished in a hotel fire in October 2025. He did not name the hotel or its location. Adeyemi has also claimed he survived multiple assassination attempts.
Broader Implications
This scandal represents more than a personal or political feud — it is a significant test of the Tinubu administration’s institutional credibility and Nigeria’s governance architecture. Conflicting narratives and the apparent existence of a “ghost agency” in official records have eroded public trust.
– **Calls for Transparency**: The opposition Nigeria Democratic Congress (NDC), civil society groups, and former Vice President Atiku Abubakar have demanded an independent, thorough investigation.
– **Political and Reputational Risk**: Regardless of the eventual outcome, the allegations have cast a shadow over a key presidential aide and the administration’s image.
– **Legal Milestone**: The court hearing scheduled for **27 July 2026** will be pivotal. Its verdict is expected to determine criminal accountability and may provide much-needed closure — or open new chapters in the saga.

Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
