Nigerian man arrested for creating a fake government agency to siphon funds

A Nigerian man, identified as Adeniyi Adeyemi, was arrested in Abuja after orchestrating a sophisticated fraud scheme involving the creation of a fake government agency. Since 2024, Adeyemi posed as the director-general of the non-existent Presidential Council for Foreign Investment Promotion and Cooperation (PFIPC).

Despite the agency not existing, Adeyemi successfully secured office space within the federal secretariat and obtained approximately $1 million in funding from the national budget this year. He further attempted to open accounts with the Central Bank of Nigeria and interacted with various government departments and foreign delegations, all of whom believed the entity was legitimate. The Presidency confirmed that no such council was ever established and that the suspect had no official appointment.

Adeyemi is currently facing charges of fraud and impersonation. He appeared in an Abuja court to address the allegations as authorities continue to investigate the security lapses that allowed the phantom entity to operate within government facilities for an extended period.