PFIPC Scandal: Adeyemi Urges Tinubu To Probe Alleged ₦1.3bn Budget Scandal

Prince Adeniyi Adeyemi Matthew, who has been accused of posing as the Director-General of the Project Fund and Public Infrastructure and Finance Commission (PFIPC), has called on President Bola Tinubu to constitute an independent, multi-stakeholder panel to investigate the alleged PFIPC scandal and the controversial ₦1.3 billion allocation inserted into the 2026 Appropriation Bill.

In an open letter dated July 13, 2026, Adeyemi commended President Tinubu for directing the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the matter but argued that the probe should be broadened to ensure transparency, credibility and public confidence.

Addressing the President, Adeyemi said, “I write to you not as a fugitive evading accountability, but as a Nigerian citizen who maintains an unwavering belief in equity, justice, and the rule of law.”

He added, “I commend your recent directive tasking the Independent Corrupt Practices and Other Related Offences Commission (ICPC) with investigating the circumstances surrounding the PFIPC scandal and ₦1.3 billion allocation inserted into the 2026 Appropriation Bill.”

According to him, the presidential directive represents an important beginning but requires a more independent framework.

“This directive is a vital first step, but the structural realities of this investigation compel me to speak out of a profound desire for absolute transparency,” he said.

Adeyemi argued that the current arrangement may not guarantee impartiality.

“The public narrative emanating from official channels remains heavily weighted toward my immediate arrest, effectively overshadowing the gravity of the systemic vulnerabilities and high-level involvement I have brought to light. True accountability cannot be achieved when the agency conducting the investigation answers directly to the branch of government within which the core allegations lie,” he stated.

He also claimed that surrendering himself under the present circumstances would put his life at risk.

“Furthermore, I must state clearly that walking freely into custody under the current arrangement poses an immediate, existential threat to my life. I have received verified, highly reliable intelligence indicating that I am targeted for elimination the moment I surface in an unmonitored environment,” he alleged.

Adeyemi linked his concerns to the reported death of Mr. Dolapo Babatunde Tanimola, whom he described as “a central intermediary in this matter.”

According to him, “Official reports claim Mr. Tanimola tragically died in a sudden fire incident at Kachi Hotel in Utako, Abuja. Yet, there remains a total absence of independent eyewitness or media verification of any such inferno.”

He further alleged that “under highly unclear circumstances and without the official involvement of any federal capital regulatory agency, the entire Kachi Hotel structure was swiftly invaded by unidentified armed actors and manually demolished down to the rubble days later — effectively erasing a vital physical crime scene and erasing material evidence.”

Adeyemi said the alleged demolition, coupled with what he described as repeated attempts on his life and threats to his family, forced him to remain at an undisclosed location.

He urged President Tinubu to establish what he described as an independent, multi-stakeholder investigative panel comprising civil society organisations, including Amnesty International and the Socio-Economic Rights and Accountability Project (SERAP), the Nigerian Bar Association (NBA), independent media representatives, international financial observers from the World Bank and the International Monetary Fund (IMF), human rights observers, diplomatic representatives of the United Nations, the United States, the United Kingdom, the European Union, ECOWAS and the African Union. He proposed that the ICPC and the Economic and Financial Crimes Commission (EFCC) should serve as technical partners.

“The moment this independent, multi-stakeholder panel is constituted, I will immediately step forward to present comprehensive documentation and verifiable evidences,” he said.

He further argued that “A system cannot credibly investigate itself when its own key actors are central to the discourse.”

According to him, “By broadening this panel, you will demonstrate to the world that your administration’s commitment to anti-corruption is absolute, institutional, and above palace politics. The international community is closely watching how Nigeria handles this test of fiscal integrity and governance.”

The letter concluded with an assurance of his readiness to cooperate with such a panel.

“I remain fully prepared to present the facts and cooperate entirely with a balanced, secure, and independent panel,” he stated.

Copies of the letter were addressed to several national and international institutions, including the United Nations, the World Bank, the IMF, the European Union Delegation to Nigeria, the African Union Commission, ECOWAS, the Nigerian Bar Association, the National Assembly leadership, the Chief Justice of Nigeria, the Department of State Services (DSS), the Inspector-General of Police, the National Intelligence Agency (NIA), the Defence Intelligence Agency (DIA), the ICPC, the EFCC, the International Criminal Court (ICC), foreign embassies and civil society organisations.

Meanwhile, Adeyemi is expected to be arraigned before the Federal High Court in Abuja on Tuesday over allegations of forgery, impersonation and related offences.

He and two others are facing an eight-count charge in suit number FHC/ABJ/CR/562/2025, filed by police prosecutor Wisdom Madaki on November 27, 2025.

The arraignment, initially scheduled for June 16, was adjourned after Adeyemi was reported to be ill.

Justice Mohammed Umar subsequently fixed Tuesday for the defendants to take their plea.

According to court documents, the prosecution intends to call several witnesses, including the Chief of Staff to the President, Femi Gbajabiamila, whose petition reportedly prompted the police investigation.

Other witnesses listed include Paul Emmanuel, Jeremiah Imoukhede, Ituah Sylvester, officials of the Office of the Accountant-General of the Federation (OAGF), Akimbo Shola, Adamu Balongu and a Deputy Superintendent of Police involved in the investigation.

Editor’s Note: The allegations and claims contained in Adeyemi’s letter have not been independently verified and remain his account. The police case against him is still before the court, and he is presumed innocent until proven guilty.