The controversy surrounding the alleged Presidential Foreign Investment Promotion Council (PFIPC) has deepened following the arrest of its self-proclaimed Director-General, Adeniyi Adeyemi, with fresh calls for investigations into the Senate's oversight role and allegations involving President Bola Tinubu's Chief of Staff, Femi Gbajabiamila.
Adeyemi was arrested in Osun State after the Federal High Court in Abuja issued a bench warrant for his arrest when he failed to appear for his scheduled arraignment.
Justice Mohammed Umar granted the warrant after prosecutors argued that the defendant had repeatedly failed to attend court proceedings despite previous adjournments.
According to court documents, Adeyemi is facing multiple charges, including alleged forgery, impersonation and related offences connected to the operations of the purported PFIPC.
The court has fixed September 30, 2026, for the continuation of the case following his arrest.
Reacting to the development, former Vice President Atiku Abubakar called on President Tinubu to suspend Gbajabiamila pending the outcome of investigations into corruption allegations linked to the controversy.
Atiku argued that an impartial investigation is necessary to restore public confidence in government institutions.
Human rights activist Omoyele Sowore also demanded a broader investigation, alleging that Adeyemi's arrest should not divert attention from questions surrounding the creation and operations of the purported agency.
He urged investigators to establish the full circumstances behind the scandal and identify all individuals who may have been involved.
Former senator Femi Okunrounmu criticised the Senate, accusing it of failing to exercise effective oversight over the alleged agency and calling for a transparent inquiry into how the PFIPC reportedly operated within government structures.
His comments add to growing public scrutiny of the National Assembly's oversight responsibilities.
The PFIPC controversy has remained in the spotlight after allegations emerged that the agency, which the Presidency has disowned, appeared in the 2026 Appropriation Act and reportedly obtained office space within the Federal Secretariat.
The Presidency has maintained that the agency was not lawfully established and previously directed the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the matter.
The case has generated widespread political debate, with opposition figures, civil society organisations and legal experts urging a credible and transparent investigation capable of determining whether institutional failures or individual misconduct enabled the alleged operation of the PFIPC.
The outcome of the ongoing investigations and court proceedings is expected to shape public confidence in Nigeria's anti-corruption and accountability institutions.