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Opinion: Tony Elumelu: God’s Gift To Africa by Ehi Braimah
Published
6 years agoon
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Editor
A great mind such as Tony Elumelu, founder of the Tony Elumelu Foundation (TEF); Chairman of UBA, Africa’s Global Bank, and Chairman of Heirs Holdings, an African investment conglomerate, amongst several other interests, needs little or no introduction.
He is God’s gift to Nigeria, and then Africa. But Elumelu’s larger than life image obviously transcends the boundaries of Africa, making him a global citizen. The focus of this essay will be more about his amazing philanthropy and burning desire to create enduring prosperity and social wealth in Africa by empowering entrepreneurs and enhancing competitiveness of the private sector.
The Tony Elumelu Foundation (TEF) which is the philanthropic arm of Heirs Holdings was launched 10 years ago. Since then, TEF has created a legacy of impact and transformational changes in different sectors across Africa including a new strategic approach to philanthropy by leveraging influence and impact. It reminds one of the vision of Rotary which is similar to that of TEF. Rotary is a global network of 1.2 million neighbours, friends, leaders and problem-solvers who see a world where people unite and take action to create lasting change – across the globe, in their communities, and in themselves.
TEF is funded by an annual grant from Heirs Holdings and supported by the group’s investee companies. In the first five years of its existence, the Foundation spent over N2 billion in furtherance of its mission. TEF has also supported the philanthropic goals of other institutions and not-for-profit organisations working in and for Africa.
Upon inception, the four key focus areas of the Foundation were: supporting entrepreneurship; enhancing competitiveness; policy intervention and leadership development. These strategic goals have continued to propel TEF to break new grounds with significant outcomes but the flagship project is the Tony Elumelu Foundation Entrepreneurship Programme (TEF Entrepreneurship Programme) which was launched on January 1, 2015. The TEF Entrepreneurship Programme represents the vision of Elumelu to empower a new generation of African entrepreneurs by supporting the business goals of at least 10,000 entrepreneurs across Africa over a 10 year period with the aim of creating over one million jobs and $10 billion in additional revenue for the continent.
When the TEF Entrepreneurship Programme was launched, President Muhammadu Buhari was obviously very proud of Elumelu. In his view, the TEF Entrepreneurship Programme was essentially a proudly Nigerian project although it has footprints all over Africa. President Buhari was effusive in his praise of Elumelu for his vision for Africa. “I’m pleased to see that efforts like this aimed at promoting self-help and creating jobs and opportunities for Africa’s youths are gaining ground,” President Buhari remarked. “This demonstrates that the work of re-building our country (as well as the wider continent) is one all patriots and stakeholders must actively engage in. I’m proud that Nigeria (and a Nigerian) is taking the lead in the effort to promote self-worth, encourage entrepreneurship, create jobs, build and promote networks for intra-African trade, business collaboration and investment,” the President added. This was clearly a major endorsement for the Tony Elumelu Foundation, coming five years before the African Continental Free Trade Agreement (AfCFTA) was launched by the African Union to lower trade and investment barriers between African countries.
It shows Elumelu is a visionary and he was creating a future for Africa when he founded TEF in 2010. Innovation is critical to creating the future. Brian Halligan is an American executive who co-founded HubSpot, an inbound marketing and sales software company. He is also an author and this is what he said about innovation: “Imagine the future and fill in the gaps.” A lot of innovation is required in different sectors of the economy and that is what Elumelu is doing in his transformational journey by using private capital to create wealth in Africa through broad based partnerships with governments, companies, individuals and philanthropies across the globe.
The TEF founder and UBA Chairman, says entrepreneurship is the most effective way to establish true prosperity and he has continued to expand this vision to touch lives by providing seed money for young African entrepreneurs. But more importantly, the TEF founder wants a paradigm shift from the existing narrative whereby Africa depends largely on aids from multi-lateral institutions; it is not sustainable and it confers on Africa a weaker negotiating position in international trade. For example, see the damage from COVID-19 pandemic on the economies of African countries – it just shows how vulnerable the continent is; we do not have buffers to mitigate serious economic headwinds.
According to Dr Akinwunmi Adesina, President of the African Development Bank (AfDB), COVID-19 could cost Africa’s GDP loss of between $22.1 billion and $88.3 billion in the worst case scenario. Economic recession is already here with us, and as African countries look up to the financial capitals of the world for debt forbearance, not forgiveness, Africa’s total public debt will be over $2 trillion in 2020, Adesina further stated. According to data available in the TEF Impact Report, this is the same Africa that has an annual GDP of about $2 trillion, comparable to India or Russia. Twelve African economies are growing at 6% per annum and have been doing so for six years. Every year, $72 billion is invested in infrastructure projects across Africa and by 2030, it is estimated that Africa’s agriculture sector could generate $1 trillion annually.
For Africa to rise above this constant challenge, the solution lies with African entrepreneurs creating a value driven and robust economy that is sustainable. This was precisely why Elumelu created the economic philosophy known as Africapitalism with the TEF Entrepreneurship Programme serving to catalyse the vision. He is not saying that aid is bad per se, but we should stop complaining and get our priorities right. The young entrepreneurs of Africa can become economic disruptors once they are empowered, thereby changing the story from aid to trade and investment.
Since 2015, TEF has been disbursing up to US$10 million yearly in direct seed capital to empower young entrepreneurs across Africa under the TEF Entrepreneurship Programme brand, and this vision will be sustained for 10 years until 2025 (the first cycle) by which time $100 million would have been invested in the project by the Tony Elumelu Foundation. According to Elumelu, Africapitalism is the private sector’s commitment to Africa’s development through long term investment in strategic sectors of the economy that creates economic prosperity and social wealth.
For the private sector to thrive there should be an enabling economic environment in the form of investment-friendly government policies. But setting and implementing policies – different layers of avoidable bureaucracy and red tape can frustrate such policies – takes time. TEF discovered that research was a critical component of the strategy for the private sector to unlock the investment potential in Africa so that entrepreneurship can flourish. To bridge the gap, the Africapitalism Institute was launched during the World Economic Forum in Africa which held May 7 – 9, 2014 in Abuja.
The Institute is an independent non-profit think tank with a mission to broaden and accelerate economic prosperity and social wealth in Africa. To achieve this objective, the private sector must have the capacity to create and multiply local value across Africa. The Institute – which is the research and advocacy arm of the Foundation; call it the “brain box” if you like — provides rigorous research, curate and communicate new ideas (innovation), develop and test the ideas, directly engage key stakeholders and advocate for public policies and business practices that will unlock investment opportunities in Africa.
Make no mistake about it, the investment potential in Africa that Elumelu refers to is huge. As noted by Dr Strive Masiyiwa, another African business leader and investor from Zimbabwe in his Facebook post, Africans in the diaspora contribute significantly to the wealth of African countries. “According to official statistics,” Masiyiwa wrote in his insightful FB post, “Africans in the diaspora send home about $65 billion per year. If this represents 10% of their income, then their total income is about $650 billion.” This is a lot of money which is more than the total income of all the 200 million people living in Nigeria — our GDP is about $550 billion. The data indicates that about 25 million Nigerians form part of the African Diaspora nation (about 60 million Africans belong to this community) and they remit about $26 billion back home annually – almost 40% of our oil revenue before COVID-19 pandemic hit us below the belt.
An African Development Bank (AfDB) 2018 report indicated that Africans in the diaspora send home about $82 billion a year which Masiyiwa also cited in his FB post. After Egypt which remitted about $29 billion, Nigeria came second with annual remittances by our brothers and sisters in the diaspora amounting to $26 billion, according to the report. These are funds transferred to family and friends but most of it is not invested; even then, the annual remittances are more than what comes into Africa as Foreign Direct Investment (FDI). In 2018, FDI into Africa was about $46 billion compared to $82 billion remitted by Africans in the diaspora.
Masiyiwa who has spent most of his adult life as an African Diasporan – over 32 years actually; even now, he’s based in London, UK – is very passionate, just like Elumelu, for Africa to explode with growth and development in different sectors. He believes that there are several business opportunities in the continent, adding that Africa’s entrepreneurship climate is progressively improving. However, he explained in his five-step guide to Africans in the diaspora wishing to invest in Africa that they must look before they leap. A Brookings report, according to Masiyiwa, stated that greater innovation and investment from business is essential to meet Africa’s unfulfilled demand for goods and services, close the gap in its infrastructure, create jobs and decrease poverty.
It is evident that Elumelu and Masiyiwa are two African billionaires with single minded determination to change the fortunes of Africa through entrepreneurship. If I understand the way these two phenomenal and innovative African investors are thinking, Africa should not be a poor continent, and this thinking is rooted in the Africapitalism philosophy. According to the IMF Data Mapper World Economic Outlook, the top ten economies in Africa in terms of their economic size by GDP — which varies from time to time — are as follows: Nigeria ($494.83 bn), South Africa ($369.85 bn), Egypt ($353 bn), Algeria ($178.64 bn), Morocco ($124.54 bn), Kenya($109.13 bn), Ethiopia ($103.61 bn), Angola ($88.98 bn), Ghana ($69.76 bn), and Tanzania ($67.24 bn).
After reviewing the Impact Report of the Tony Elumelu Foundation from 2010 – 2015, Elumelu believes strongly that the most transformative changes in Africa will be created by entrepreneurs who have brilliant ideas and exhibit a passion and innovation in solving local problems and creating social wealth. Let me share a personal experience. In 2014, our public relations and marketing management company was honoured alongside 49 other companies at Eko Hotel, Victoria Island, Lagos by the Tony Elumelu Foundation and Allworld Network on March 22 which is Elumelu’s birthday. That partnership was a pioneering effort to promote some of the fastest growing but unlisted companies in Nigeria in the “Fast Growth 50” or “Nigeria50” awards. The partnership helped to attract new investors, customers, growth partners and talent for the 50 companies through visibility economics by showcasing their efforts and results on an international scale.
I recall that the world renowned professor of competitive strategy, Michael Porter of the Harvard Business School, spoke to us. “Strategy is all about winning in the market place by gaining competitive advantage,” Prof Porter explained in one of the sessions. TEF later published The Success Factor to codify the lessons and successes of Nigeria50 and it featured the career of each company CEO/founder, enumerating the steps they took to build their companies. Over 5,000 copies of the book were distributed in Nigeria to young graduates and entrepreneurs.
Subsequently, I became a mentor of the TEF Entrepreneurship Programme from 2015 with the first cohort. Mentors are a vital part of the Tony Elumelu Foundation Entrepreneurship Programme which supports entrepreneurs across Africa with $5,000 non-refundable seed capital to build their businesses. They also receive training, mentoring and through peer-to-peer engagement, they build a formidable network and alumni. Once the business is launched, Tony Elumelu entrepreneurs may receive additional funding of $5,000 each as loan or equity.
Over 3,000 mentors from 46 countries around the world have provided guidance and support to the nearly 10,000 entrepreneurs that have been empowered by the Foundation across Africa. In the first year of the highly competitive programme, over 20,000 applications were received from 52 countries and the largest number of applications came from Nigeria (49%), followed by Kenya (17%), and Uganda (4.5%). Since then, the numbers have quadrupled every year and to date, the Foundation has received nearly 600,000 applications for its flagship programme. In response to these numbers, the Foundation launched TEFConnect, its proprietary digital platform for African entrepreneurs, where TEF provides comprehensive capacity-building support, advisory and market linkages for nearly one million African SMEs.
The TEF Entrepreneurship Forum which is the physical convening of these entrepreneurs has hosted African Presidents including President Paul Kagame of Rwanda, President Uhuru Kenyatta from Kenya, President Felix Tshisekedi of DRC, President Macky Sall of Senegal, President Nana Akufo-Addo of Ghana, Prime Minister Ruhakana Rugunda from Uganda, Vice President Yemi Osinbajo of Nigeria, amongst others, and it has been recognised around the world for its ambition, size and scale – it is the largest gathering of entrepreneurs in the world each time it is held.
Apart from TEF Entrepreneurship Programme, the Foundation also launched initiatives such as fostering competitiveness (to attract local and foreign investment); impact investing (making money while solving social and environmental problems); Elumelu Professionals Programme (access to world class talents); direct intervention in early stage companies (social technology ventures) through a partnership with Co-Creation Hub (BudgIT and WeCyclers were two of the 20 beneficiaries and they received $5,000 seed capital each) and policy and capacity building (strategic engagement between policy makers and the private sector).
TEF also promotes thought leadership to achieve its goals. In addition, forging quality partnerships and collaborations with relevant organisations and individuals have become an overarching strategy for the Foundation. These partnerships are broad in scope but they are well focused and result-oriented. Some of the outcomes include research, ideation and publications that cover a wide range of socio-economic and investment related topics. Policy makers, thought leaders, journalists and entrepreneurs will find these publications useful.
Elumelu is not alone on this remarkable transformational journey across Africa for the creation of a progressive economic environment. He is ably supported by his lovely wife, Awele, a distinguished medical practitioner in her own right. Awele is a Trustee of TEF and founder of Avon Medical Practice. She also oversees the healthcare investments of Heirs Holdings including Avon HMO, one of Nigeria’s leading health maintenance organisations. The Tony and Awele Elumelu Prize was established to build the next generation of African leaders and entrepreneurs by collaborating with 18 partner institutions across Africa. The awards have been a source of motivation for graduates from African universities who strive to succeed against all odds. Since 2011 when the prize was launched, nearly 140 graduates have received grants for their start-ups.
Elumelu is of Delta State origin. His late dad hailed from Onicha-Ukwu (that is also where Chief Sylvester Moemeke, the advertising veteran of Lintas Advertising fame, comes from) while his mother (the Ada Onicha) is from Onicha-Ugbo, two idyllic towns in Aniocha North local government area of Delta State. By the way, Onicha-Ugbo where Elumelu grew up and had his early education is also popularly known as “Jesus Town”. Maybe Elumelu’s kindness, generosity and humanitarian endeavours have something to do with where he comes from. Naming Onicha-Ugbo “Jesus Town” was clearly not a mistake as it suggests that they are prayerful people and they pray for good things in their hearts.
The Holy Book says, “Out of the abundance of the heart, the mouth speaks.” (Matthew 12:34). The spiritual injunction implies that everything we speak, think or do will attest to what the abundance of our heart brings forth. And in Luke 6:45, we are also reminded that, “The good man brings good things out of the good treasure of his heart.” As we can see, Onicha-Ugbo and Onicha-Ukwu people’s prayers have been answered; it means prayer works — Elumelu is a good man and worthy ambassador of both communities in whom they are well pleased. They love him and they are also proud of him for his spectacular achievements as an accomplished entrepreneur.
If Elumelu were an artist, his canvas would have been broad and colourful; he opted to be a global celebrity and not a local champion. Each stroke of his brush on the canvas would have represented his deep connection with humanity as a father, husband, pan Africanist, visionary, thinker, economist, banker, philosopher, philanthropist and care giver, mentor, goodwill ambassador, patriot, business leader, investor and serial entrepreneur. We definitely need more great men and transformational leaders like Elumelu from Africa to make the world a better place. One more thing: Elumelu should become an honorary Rotarian in view of his excellent services to humanity and the Rotary Club of Lagos in District 9110 would be glad to honour him.
As the Tony Elumelu Foundation marks its 10th anniversary, I have no doubt in my mind that TEF’s impactful service to Africa will be sustained for another cycle of 10 years. I congratulate Elumelu for his vision and exemplary leadership; I also salute the entire team for their outstanding achievements.
- Braimah is a PR and marketing strategist based in Lagos
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By Eric Elezuo
Tinubu has turned the presidency into a nest of fraudsters – ADC
The Nigerian public woke this week to the shock of a revelation as to the extent of rot that has engulfed the Presidency, with special reference to the alleged tripatite fraud incident involving the Chief of Staff to the President, Hon Femi Gbajabiamila, the Secretary to the Federal Government of Nigeria (SGF), Senator George Akume and the man in the eye of the storm, Prince Adeniyi Adeyemi Matthew.
The scandal is the case of the supposedly ‘phoney’ of ‘fake’ federal agency, the Presidential Foreign Intervention Promotion Council (PFIPC) and Presidential Economic Advisory Council, of which Prince Adeniyi Adeyemi Matthew is the Director-General.
While the Presidency insists that no such agency exists, Adeyemi Matthew maintains that the agency was legitimately established with all necessary and required protocol satisfied. The war of words that has resulted has left the Nigerian popula e bewildered with so many questions begging for answers.
According Prince Adeniyi Matthew, the agency, a legal entity, was established in 2024, and has been running hitchlessly until an issue of repayment of N200million out of a supposed N600 million demanded by the Chief of Staff Gbajabiamila as kickback for the establishment of the agency and appointment of Adeyemi. The now embattled DG claimed that he made a down payment of N400 million at inception, remaining the balance of N200 million.
Adeyemi had stubbornly maintained alleged that Gbajabiamila was connected with his ‘appointment’ as well as making financial demands, part of which he paid. On the other hand, Gbajabiamila, supported by the Presidency, has denied all involvement, insisting that Adeyemi is a ‘con artist’, and that the agency never existed, and not known to the federal government of Nigeria. This has raised a huge can of worms that has seem difficult to control.
Nigerians have variously wondered how an agency said to be unknown to law found its way to office accommodation at the Secretariat, opened a Central Bank account, and has an approved allocation in the 2026 Budget passed by the National Assembly, comprising the Senate and the House of Representatives.
Meanwhile, the man alleged to have forged the government appointment letters and falsely paraded himself as the Director-General of the alleged agency, has remained steadfast in his denials, claiming the Presidency is attempting to shut him up.
While speaking with PREMIUM TIMES from an undisclosed location, Adeyemi insisted he had done nothing wrong and described the government’s actions as a “defence mechanism,” while refusing to disclose his location as he claimed his life was in danger.
He said, “You know the government we have. They are just playing a defence mechanism to shut me up. My organisation was set up in 2024.
“They are now after my life. I have gone into hiding. I’m underground,” he said.
When asked whether he had fled the country, he declined to respond directly.
“I will not be able to disclose any information now. I don’t consider myself safe,” he added.
The embattled DG turned suspect also declined to provide his alleged appointment letter or any document to support his claim that he was legitimately appointed, saying his lawyers had advised him not to discuss the matter publicly.
“I just decided to speak to you out of respect. My lawyers are working on something. Whatever they say, I will let you know,” he said.
Responding, the Presidency accused Adeyemi of forging appointment letters and other official documents while falsely presenting himself as Director-General of the Presidential Foreign Intervention Promotion Council and the Presidential Economic Advisory Council, agencies it insists do not exist.
Presidential spokesman, Bayo Onanuga, said Adeyemi and two others have been charged before the Federal High Court on an eight-count charge bordering on forgery, impersonation and related offences.
According to the Presidency, concerns first emerged after the Nigerian Investment Promotion Commission reported that another body appeared to be performing functions similar to its statutory responsibilities.
The Chief of Staff to the President, Femi Gbajabiamila, subsequently petitioned the Department of State Services and the Nigeria Police Force, alleging that forged appointment letters bearing fake signatures, official seals and reference numbers had been used to create the impression that the suspects were presidential appointees.
The Presidency said investigations revealed that Adeyemi and his associates allegedly operated from an office within the Federal Secretariat Complex in Abuja, held meetings with Nigerian and foreign officials and sought diplomatic support from the Ministry of Foreign Affairs for visa applications.
According to the Presidency, police arrested Adeyemi on October 27, 2025, after which searches conducted at his office and residence allegedly yielded forged government documents.
Investigators also alleged that financial intelligence uncovered 34 bank accounts linked to Adeyemi, including accounts allegedly opened in the names of purported government agencies.
The Presidency further claimed that Adeyemi used forged documents to open an account with the Central Bank of Nigeria in the name of the alleged agency, although investigators found that no public funds were paid into the account.
The case is scheduled to come up before the Federal High Court on July 27.
The Presidency, in a statement issued on Wednesday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, described Adeyemi as “a con artist” who allegedly used forged appointment letters bearing the name of the Chief of Staff to the President, Femi Gbajabiamila, to create and operate a non-existent Presidential Foreign Intervention Promotion Council, later referred to as the Presidential Economic Advisory Council.
According to the statement, the alleged scam was uncovered after officials of the Nigerian Investment Promotion Council raised concerns that another purported government agency appeared to be operating alongside it.
The Office of the Chief of Staff subsequently alerted security agencies, accusing unnamed individuals of forging official appointment letters purportedly issued from his office.
“The attention of this office has been drawn to the activities of certain individuals and groups engaged in the forgery of official appointment letters purportedly issued from my office,” Gbajabiamila said in a petition dated October 17.
“The fake documents, bearing falsified signatures, reference/folio numbers, and seals, have been used to claim leadership appointments to non-existent entities, with particular reference to the Presidential Foreign Intervention Promotion Council.”
The Chief of Staff disclosed that Adeyemi had allegedly established an office at the Federal Secretariat Complex in Abuja, where he reportedly hosted meetings with Nigerians and foreign nationals while presenting himself as the Director-General of the fictitious agency.
According to the petition, the group even sought diplomatic support from the Ministry of Foreign Affairs to facilitate United States visas for its purported staff.
“The above development not only constitutes a serious criminal act but also undermines the integrity of the Presidency and the credibility of official government communication,” Gbajabiamila wrote.
“I therefore urge you to initiate a thorough investigation to identify and apprehend those involved and also to uncover the network facilitating the forgery.”
Foreign Affairs Ministry raises red flag
The statement revealed that concerns over Adeyemi’s activities had also reached the Federal Ministry of Foreign Affairs after he reportedly convened a meeting with ambassadors at the Wells Carlton Hotel and Apartments in Abuja on October 10, 2025, without the ministry’s knowledge.
In a letter dated October 15, 2025, signed by Ambassador Anderson Madubuike and addressed to the Office of the National Security Adviser and the Office of the Chief of Staff, the ministry sought clarification regarding the status of the purported agency.
“This act contravenes extant rules and regulations guiding diplomatic practices globally,” the ministry stated.
The enquiries triggered correspondence among the Office of the National Security Adviser, the Office of the Secretary to the Government of the Federation and the Office of the Chief of Staff.
Responding to the enquiries, Gbajabiamila categorically denied appointing Adeyemi or recognising the agency.
“Prince Adeniyi Matthew, Director-General of the Presidential Foreign Investment Promotion Council, is unknown to any office, nor do we have any dealings with the said council,” he wrote.
“My attention was drawn to a letter of this purported application, which is fake, and my office has instructed the police and other relevant security agencies to carry out investigations on the person and the entity he claims to represent.”
The Presidency stressed that the Chief of Staff could not have issued any appointment letter because appointments into government offices are the exclusive responsibility of the Office of the Secretary to the Government of the Federation.
Police uncover alleged forgery network
Following the petition, the Police launched an investigation and arrested Adeyemi on October 27, 2025, at the Abuja office from where he allegedly operated the scheme.
Searches conducted at both his office and residence in Suleja reportedly yielded several documents and exhibits believed to be connected with the operation.
Investigators said Adeyemi claimed that one Dolapo Babatunde Tanimola assisted him in procuring the forged appointment letter.
However, police investigations established that Tanimola had died in a fire incident at Kachi Hotel in Abuja on October 22, 2025, five days before Adeyemi’s arrest.
According to the State House, investigators established that the agency Adeyemi claimed to head never existed, while the appointment letters and several official documents recovered during the investigation were allegedly forged.
Police also accused him of falsely presenting himself as a presidential appointee and fraudulently requesting a diplomatic note verbale from the Ministry of Foreign Affairs to facilitate visa applications for himself and members of his organisation.
Investigators further alleged that Adeyemi operated no fewer than 34 bank accounts, including nine accounts opened in the names of fictitious organisations, including the FCT Investment Promotion Agency and Public Private Partnership (FIPA-APP).
The investigation also found that he allegedly succeeded in opening a Central Bank of Nigeria account by misleading the Office of the Accountant-General of the Federation using forged documents.
The Presidency, however, noted that investigators confirmed no government funds were ever paid into the account.
“The act of the suspect constitutes criminal forgery, impersonation and obtaining by false pretence, thereby bringing the office of the Chief of Staff to the President and the Presidency to disrepute before the public and international community,” the police report stated.
Eight-count charge filed
Based on the outcome of the investigation, police filed an eight-count charge before the Federal High Court in Abuja against Adeyemi and two alleged accomplices on November 27, 2025.
The matter is scheduled for hearing on July 27.
According to the Presidency, Adeyemi, while on police bail, recently resurfaced with fresh claims that the Chief of Staff had genuinely appointed him as Director-General of the agency.
The statement noted that the claim directly contradicted the statement he voluntarily made to investigators during the police probe.
It said the renewed allegation prompted Gbajabiamila to issue another public disclaimer on June 8, reaffirming that Adeyemi was an impostor.
Presidency urges caution
The Presidency said Adeyemi had a history of alleged fraudulent misrepresentation, recalling that in 2016 he allegedly presented himself as President-General of the World Youth Organisation, claiming it was affiliated with the United Nations before the UN reportedly disowned the organisation.
Describing the case as that of “a con artist who appears to have built a web of false claims to deceive unsuspecting government officials and the public,” the Presidency urged politicians and members of the public to avoid drawing conclusions before the ongoing criminal trial is concluded.
It further advised that, since the matter is before the court, interested parties should allow the judicial process to determine the allegations against Adeyemi and his co-defendants.
ADC DEMANDS JUDICIAL INQUIRY
The opposition party, in a statement issued on Friday, by its National Publicity Secretary, Bolaji Abdullahi, demanded an independent judicial inquiry into the scandal.
The ADC noted that the allegations surrounding the PFIPC and claims of bribery involving the President’s Chief of Staff, Femi Gbajabiamila, go beyond individual wrongdoing and strike at the core of Nigeria’s governance and institutional integrity.
The party said it has reviewed the Presidency’s July 1 response to the controversy, issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, but maintained that the government’s explanation raised more questions than answers.
According to the ADC, “Rather than provide answers to the raging questions on this scandal, the statement has instead left more questions.”
“If anything, it actually exposed the staggering depth of institutional decay under the APC-led administration of President Bola Tinubu, suggesting that under Tinubu’s watch, the Presidency may have become a nest of fraudsters,” Abdullahi stated.
The opposition party further alleged that the Presidency’s focus on defending Gbajabiamila, instead of explaining how a supposedly non-existent government body allegedly operated across multiple federal institutions, indicated either complicity or gross incompetence.
The ADC argued that by the Presidency’s own admission, the PFIPC was described as a “fictitious” organisation, yet it allegedly interacted with ministries, corresponded with government agencies, engaged foreign diplomats, secured official recognitions, and left behind official documentation.
According to the party, the implications extend beyond allegations against a single official and raise serious concerns about Nigeria’s national security and governance structures.
The party called for investigations into at least ten individuals and institutions, insisting that only a comprehensive inquiry could uncover the full scope of the alleged scandal.
Among those listed were; Chief of Staff, Femi Gbajabiamila, whom the party said must be investigated over documents allegedly issued from his office and public claims that he received bribes ranging between N200million and N600million from Prince Adeniyi Adeyemi.
The ADC also demanded an investigation into Prince Adeniyi Adeyemi to determine his alleged role in creating and promoting the PFIPC, verify the authenticity of documents linked to the organisation, and examine claims that payments were allegedly made to senior government officials.
The party also demanded that Secretary to the Government of the Federation George Akume; Head of the Civil Service of the Federation Didi Esther Walson-Jack; Director-General of the Budget Office Tanimu Yakubu; the Ministry of Foreign Affairs; the Office of the National Security Adviser; the Department of State Services (DSS); the Nigeria Police Force; the Office of the Accountant-General of the Federation; the Central Bank of Nigeria; and relevant oversight committees of the National Assembly be probed.
According to the ADC, the institutions must explain how an organisation, the Presidency now claims never existed, allegedly obtained recruitment approvals, budgetary allocations, diplomatic engagements, and official recognition.
The party called for the immediate establishment of an independent Judicial Panel of Inquiry with powers to summon witnesses, compel the production of official documents, and determine whether negligence, abuse of office, collusion or criminal conduct occurred.
“This matter must not be swept under the Presidential red carpet,” the opposition party declared.
The ADC argued that if the PFIPC was indeed fictitious, Nigerians deserved to know how it allegedly secured recruitment approvals for over 300 civil servants, appeared in the 2026 budget, conducted official correspondence and interacted with multiple government institutions.
It added that if the Presidency’s claim was false and the PFIPC was a legitimate agency, Nigerians equally deserved an explanation for why the government was allegedly disowning it to shield senior officials from allegations of bribery.
The opposition party insisted, “These are serious questions that cannot be answered by press statements, selective denials, or criminal prosecutions alone.”
The ADC also accused the Tinubu administration of applying different standards in the fight against corruption.
The party noted that federal anti-corruption and security agencies, including the ICPC, DSS and EFCC, were swiftly deployed over allegations involving former Kaduna State Governor Nasir El-Rufai, but no similar action had been taken against Gbajabiamila despite the seriousness of the allegations.
“This glaring double standard undermines public confidence and reinforces the perception that there is one standard of accountability for political opponents, and another for those within the inner circle of power,” Abdullahi stated.
The party urged President Tinubu to immediately establish an independent Judicial Commission of Inquiry chaired by respected Nigerians to investigate every aspect of the PFIPC controversy.
It warned that failure to conduct a transparent investigation would reinforce public perceptions that the administration was unwilling to confront corruption allegations involving powerful government officials.
The ADC further vowed that should the current administration fail to investigate the matter, the PFIPC scandal would become “one of the very first accountability priorities of an ADC-led government.”
The party also warned all officials allegedly connected to the controversy that every approval, financial transaction, budgetary allocation, and official correspondence linked to the PFIPC would face scrutiny under any future ADC administration.
“There will be no sacred cows, no untouchables, and no hiding place for corruption,” the party stressed.
ATIKU ABUBAKAR ISSUES 7-DAYS ULTIMATUM
Presidential candidate of the ADC, Atiku Abubakar, has issued a seven-day ultimatum President Bola Tinubu to order an independent investigation into the alleged PFIPC fraud, warning that failure to act could suggest complicity.
Atiku said the scandal, involving claims of a fake agency, budgetary allocations, and recruitment processes, raises serious concerns about institutional failures rather than just individual wrongdoing.
NDC DEMANDS SACK OF FEMI GBAJABIAMILA
The Nigeria Democratic Congress (NDC) also called on President Bola Tinubu to immediately remove Gbajabiamila, over the allegations.
In a statement issued on Friday by its National Publicity Secretary, Osa Director, the opposition party described the allegations as grave and said Gbajabiamila’s continued stay in office could compromise any credible investigation into the matter.
According to the party, the allegations raise serious concerns about transparency, accountability and integrity within the Tinubu administration.
The NDC alleged that despite the Presidency’s denial of the agency’s existence, the PFIPC purportedly secured budgetary allocations in the 2026 Appropriation Act and opened a domiciliary account, a Pound Sterling account and a Treasury Single Account (TSA) domiciled with the Central Bank of Nigeria.
The party questioned how an agency described as non-existent could allegedly establish multiple high-level government financial accounts without official approval or the required documentation.
It also called on the Office of the Accountant-General of the Federation to explain whether forged documents were used in processing the accounts.
The statement further alleged that the Head of the Civil Service of the Federation approved 314 staff positions for the purported agency, describing the development as another issue requiring urgent explanation.
According to the NDC, the allegations also include claims that Gbajabiamila demanded 48 per cent of the agency’s take-off grant, reportedly valued at N27.39 billion, a request Adeyemi allegedly rejected.
The party also cited Adeyemi’s claim that he secured his appointment through the Chief of Staff after allegedly paying N600 million, of which N400 million was allegedly paid through proxies, while N200 million remained outstanding.
It said the alleged unpaid balance reportedly contributed to the Presidency’s subsequent denial of the agency’s existence.
The NDC further alleged that the claims point to a wider pattern of institutional corruption, including the alleged sale of public appointments.
The party also linked the controversy to the death of Babatunde Tanimola, whom it described as an intermediary between Adeyemi and the Chief of Staff.
According to the statement, Tanimola reportedly died in a fire incident at a hotel in Utako, Abuja, on October 22, 2025, a day after the police reportedly received a petition from the Chief of Staff.
The NDC also referenced Adeyemi’s claims that he survived multiple assassination attempts, including an attack along the Abuja-Kaduna Expressway on September 7, 2025, and alleged that certain individuals within government are plotting to eliminate him.
It also called on President Tinubu to establish an independent investigative panel to examine the alleged operations of the PFIPC, including its budgetary allocations, financial transactions, account openings and staff recruitment.
The NDC further urged investigators to probe the circumstances surrounding Tanimola’s death and the alleged assassination attempts on Adeyemi, while recommending that Adeyemi be granted witness protection.
The party also demanded that the Chief of Staff produce all official documents signed since assuming office for forensic examination.
In addition, it called for the questioning of officials of the Central Bank of Nigeria (CBN), the Office of the Accountant-General of the Federation, and the Office of the Head of the Civil Service of the Federation over their alleged roles in the matter.
The opposition party also urged the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Nigeria Police Force to commence what it described as a thorough investigation without fear or favour.
“The NDC will not accept the usual tactic of issuing a mere defensive press release from the Presidency as a deflective ploy. Nigerians deserve to know the truth through a transparent process that promotes fairness and justice,” the statement said.
INTERNAL CO-CONSPIRATORS FINGERED
On his part, Temitope Ajayi, Senior Special Assistant to President Bola Tinubu on Information and Public Affairs, has fingered possible involvement of internal collaborators in the fake agency scandal.
“Well, it’s not impossible, because even the audacity to go and operate inside the government federal secretariat is enough to suggest anything could have gone at some point.
“We don’t know how he was able to get a forged letter of appointment by the Chief of Staff to the president.
“We all know appointments into agencies or extra ministerial positions are done by the president exclusively,” he said.
Today, Nigerians are divided among those supporting the Presidency and those calling for a sanction against the principal actors; Gbajabiamila and Akume.
Nigerians maintain that the scandal must be investigated to the last evidence, and not swept underneath the carpet.
The alleged scandal is one of many can of worms that has plagued the Tinubu administration since 2023. The public awaits the outcome of investigations.
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FBN vs GHL: Supreme Court Voids Appeal Court Judgment, Orders Immediate Handover of FPSO Tamara Tokoni Crude Oil to General Hydrocarbons
Published
2 days agoon
July 3, 2026By
Eric
The long drawn legal tussle between FirstBank of Nigeria Limited and General Hydrocarbons Limited over the ownership of the crude oil aboard the FPSO Tamara Tokoni, may have come to a conclusive end as the Supreme Court of Nigeria delivered its judgment.
The Apex Court, on Friday, ordered the Chief Registrar of the Court of Appeal and the Admiralty Marshal to immediately hand over the crude oil aboard the FPSO Tamara Tokoni to General Hydrocarbons Limited (GHL), bringing to an end a legal dispute over the asset.
In a unanimous judgment delivered by a five-member panel of justices, the apex court held that the suit instituted by First Bank of Nigeria (FBN) was contractual in nature and not an admiralty matter.
The court consequently ruled that both the Federal High Court and the Court of Appeal lacked the jurisdiction to entertain the case.
The Supreme Court accordingly allowed the appeal filed by General Hydrocarbons Limited and set aside the judgment of the Court of Appeal, describing it as perverse.
Justice Abiru, who read the lead judgment, announced the unanimous decision of the panel comprising Justices Uwani Aba-Aji, Salawa, Agim, Uwa and Abiru.
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Headline
GbajaGate: I’ve Done No Wrong, Govt Playing to Shut Me Up – Adeyemi Matthew Speaks from Hiding
Published
3 days agoon
July 2, 2026By
Eric
Prince Adeniyi Adeyemi Matthew, the man alleged to have forged government appointment letters and falsely paraded himself as the Director-General of the alleged Presidential Foreign Intervention Promotion Council (PFIPC) and Presidential Economic Advisory Council, has denied the allegations against him, claiming the Presidency is attempting to silence him.
Speaking with PREMIUM TIMES from an undisclosed location on Thursday, Adeyemi insisted he had done nothing wrong and described the government’s actions as a “defence mechanism.”
“You know the government we have. They are just playing a defence mechanism to shut me up. My organisation was set up in 2024,” he said.
Adeyemi declined to disclose his whereabouts, saying he had gone into hiding because his life was under threat.
“They are now after my life. I have gone into hiding. I’m underground,” he said.
When asked whether he had fled the country, he declined to respond directly.
“I will not be able to disclose any information now. I don’t consider myself safe,” he added.
The embattled suspect also declined to provide his alleged appointment letter or any document to support his claim that he was legitimately appointed, saying his lawyers had advised him not to discuss the matter publicly.
“I just decided to speak to you out of respect. My lawyers are working on something. Whatever they say, I will let you know,” he said.
The Presidency has accused Adeyemi of forging appointment letters and other official documents while falsely presenting himself as Director-General of the Presidential Foreign Intervention Promotion Council and the Presidential Economic Advisory Council, agencies it insists do not exist.
Presidential spokesman, Bayo Onanuga, said Adeyemi and two others have been charged before the Federal High Court on an eight-count charge bordering on forgery, impersonation and related offences.
According to the Presidency, concerns first emerged after the Nigerian Investment Promotion Commission reported that another body appeared to be performing functions similar to its statutory responsibilities.
The Chief of Staff to the President, Femi Gbajabiamila, subsequently petitioned the Department of State Services and the Nigeria Police Force, alleging that forged appointment letters bearing fake signatures, official seals and reference numbers had been used to create the impression that the suspects were presidential appointees.
The Presidency said investigations revealed that Adeyemi and his associates allegedly operated from an office within the Federal Secretariat Complex in Abuja, held meetings with Nigerian and foreign officials and sought diplomatic support from the Ministry of Foreign Affairs for visa applications.
According to the Presidency, police arrested Adeyemi on October 27, 2025, after which searches conducted at his office and residence allegedly yielded forged government documents.
Investigators also alleged that financial intelligence uncovered 34 bank accounts linked to Adeyemi, including accounts allegedly opened in the names of purported government agencies.
The Presidency further claimed that Adeyemi used forged documents to open an account with the Central Bank of Nigeria in the name of the alleged agency, although investigators found that no public funds were paid into the account.
The case is scheduled to come up before the Federal High Court on July 27.
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