Adeyemi said the council was set up in 2024 in order to attract foreign investment to Nigeria but there is no record of any deals being done.
It has a staff of three, who have been questioned by the police.
President Bola Tinubu on Tuesday directed the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate and submit a comprehensive report within 30 days.
BBC News Pidgin has found that the agency had secured office space within the Federal Secretariat – the vast government complex that houses many of Nigeria’s ministries in the capital Abuja – opened bank accounts with the Central Bank of Nigeria, and appeared in the 2026 Appropriation Act with an allocation of 1.3bn naira ($950,000; £700,000).
However, the Accountant-General’s Office says the PFIPC never had an operational account with the central bank and has not received any public funds or salaries.
The presidency claimed police forensic analysis had confirmed that the signature from the president’s chief of staff, Femi Gbajabiamila, on the disputed appointment letter had been forged.
According to the charges filed before the Federal High Court in Abuja, Adeyemi and two other defendants are accused of using forged official documents to establish and operate the purported council, opening multiple bank accounts in its name and seeking official recognition for an agency the government maintains does not exist
Tinubu directed the ICPC to investigate various allegations including:
Forged appointment letters and official government documents;
Use of false claims to seek official recognition and diplomatic support, including visa facilitation;
Opening of multiple bank accounts using allegedly forged documents and
The role of any public officer, private individual, financial institution or intermediary that may have facilitated the alleged scheme.
The president also ordered investigators to examine the wider circumstances that enabled an allegedly fictitious body to acquire the appearance of official legitimacy, and to identify weaknesses in government procedures that were alleged to have been exploited.
The scandal has prompted mounting public pressure from civil society organisations, opposition politicians and senior lawyers who have demanded an independent inquiry.
Tinubu said the integrity of the presidency and federal institutions “must be protected against impersonation, forgery, abuse of official identity and the exploitation of weaknesses in the public service”.
”All persons found culpable are to be treated strictly in accordance with applicable law,” the president’s statement read.
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