Paul Ibe, an aide to former Vice President Atiku Abubakar, has revealed details that question the claim delegitimising the Presidential Foreign Investment Promotion Council (PFIPC).

The PFIPC is a disputed and allegedly fake Nigerian government agency at the centre of a major fraud and budget scandal involving a ₦1.32 billion allocation in the 2026 budget.

The key figures and elements in this controversy include Adeniyi Adeyemi, who heads the agency, and the Chief of Staff to the President, Femi Gbajabiamila.

Despite the Presidency dismissing the agency as fake and displaying ignorance concerning Adeniyi, Paul Ibe believes there remain some questions deserving answers.

He wrote, "Who is fooling who?: Shared as received.

"So, Adeyemi was SSA to Osun governor for about 6 months? So he scammed the state government of about 200 million naira. So, the EFCC arrested him based on a petition from the government. So the EFCC recovered about 180 million naira from Adeyemi. The same EFCC chairman, months later hosted Adeyemi in his office.

So Adeyemi had 6 police officers and 2 DSS operatives in his security details. So Adeyemi’s official cars and those of his security officers bore the FGN Presidency as plate numbers.

"So Adeyemi was formally invited to be on Shettima's entourage twice on the vice president’s trip abroad.

"So the NASS (both the Senate and HOR) nominated members to on Adeyemi’s official trip abroad. Interesting days ahead sha!

"So Adeyemi had 3 federal civil servants on level 17 (Directors) deployed to his office.

"So the fake agency had an official website. A working one at that. And the NSA, DSS DG, and communications minister "didn't" know.

"So, Adeyemi requested and got approval for his agency to have offices in the 36 states of the Federation. And in federal secretariat in the states.

"ALL of them; NSA, COS, AGF, DG, Budget Office, SGF can only deceive themselves and those who want to be deceived."