The self-acclaimed Director-General of the controversial Presidential Foreign Investment Promotion Council (PFIPC), Prince Adeyemi Adeniyi, has disclosed details of how the agency’s name allegedly found its way into the 2026 federal budget, despite claims that it was never legally established.
Adeniyi made the revelation during a recorded interview with social media activist, Martins Vincent Otse, popularly known as VeryDarkMan. The video surfaced shortly after his arrest over allegations of forgery, impersonation and conspiracy connected to the activities of the organisation.
According to Adeniyi, he was no longer involved when the controversial N1.3 billion allocation appeared in the government’s appropriation document.
He explained that he had approached the Budget Office in December 2024 seeking the inclusion of PFIPC in the 2025 budget but was informed that the submission window had already closed.
“I went to that Budget Office for the 2025 budget. I submitted the letter and everything that I wanted, but I was told it was already late. When the 2025 budget came out and I didn’t see it, they told me it would now be for the 2026 budget,” he said.
Adeniyi alleged that a female official at the Budget Office helped arrange meetings with senior officials, claiming that he was asked to provide gratification before his request could receive attention.
“She helped me to see the oga. Oga now said, ‘Where is my shini?’ I said I don’t have any shini. He later asked me to meet one director,” he stated.
He further claimed that the director informed him that PFIPC could not be accommodated in the 2025 budget because the process had already been concluded but suggested it could be considered in the following budget cycle.
Adeniyi said his arrest and legal challenges later halted his efforts regarding the proposed agency, insisting that he had no role in the appearance of PFIPC’s allocation in the 2026 budget.
The controversy surrounding PFIPC has continued to generate public debate following reports that about N1.32 billion was allocated to the agency, despite the Federal Government’s position that the council was not legally created.
Samuel Agada is a writer and media contributor from Olamaboro Local Government Area of Kogi State, Nigeria. He is a graduate of Biochemistry from the University of Jos and a former banker with GTBank and FCMB. A prolific writer, songwriter, educator, and Gospel preacher, he is passionate about informing, inspiring, and impacting society through his work.