Controversial DG Adeniyi Mathew Adeyemi Under Investigation

Adeniyi Mathew Adeyemi, the Director General of the Presidential Foreign Investment Promotion Council (PFIPC), is embroiled in controversy regarding his past residence in the Oyo palace during the reign of the late Oba Lamidi Adeyemi III. Investigations initiated in early 2025 revealed that Adeyemi, who is not related to the late monarch, allegedly adopted the title of "prince." Sources confirmed that several investigations were conducted from February to April 2025, raising questions about his legitimacy and connections.

The situation escalated following a public altercation involving Chief of Staff to the President, Femi Gbajabiamila, who disowned Adeyemi amid accusations of running an illegitimate organization. Furthermore, it was discovered that the PFIPC operates a treasury single account with the Central Bank of Nigeria, with an allocation of N1.3 billion in the 2026 budget, despite operating from the federal secretariat in Abuja.