The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered two additional fake government agencies during its ongoing investigation into the activities of the self-proclaimed Director-General of the Presidential Foreign Intervention Promotion Council (PFIPC), Adeniyi Matthew Adeyemi.
The latest findings were presented to President Bola Tinubu through an interim report submitted at the Presidential Villa in Abuja by ICPC Chairman, Dr. Musa Adamu Aliyu, SAN.
Briefing State House correspondents after submitting the report, Dr. Aliyu disclosed that investigators established that Adeyemi was never appointed by the Federal Government.
He also confirmed that the Presidential Foreign Investment Promotion Council had never been created through any law or executive order. According to the report, the appointment letter presented by Adeyemi was forged, while the PFIPC unlawfully took over offices and official instruments previously used by the defunct Presidential Economic Advisory Council (PEAC).
The ICPC investigation further revealed the existence of two additional fake government agencies allegedly established by the suspects. The agencies identified are: FCT Investment Promotion Agency (PIFA), Foreign Investment Promotion Agency (PIPA)
Dr. Aliyu said both organisations were allegedly created using forged legislative documents and were later used to open bank accounts for unlawful activities. Investigators also discovered that Adeyemi altered the agency’s name from the Foreign Investment Promotion Council to the Foreign Intervention Promotion Council while attempting to expand its functions to include revenue generation.
The ICPC chairman stated that investigators found no evidence that public funds were approved or disbursed to the fake PFIPC or PEAC. He also stressed that the investigation uncovered no weaknesses within the systems of the State House or the Central Bank of Nigeria (CBN). According to him, the fake organisation relied on false representation, impersonation and administrative loopholes to carry out its activities.
As part of its interim recommendations, the commission called for the prosecution of Adeniyi Matthew Adeyemi and urged administrative sanctions against public officials alleged to have aided the illegal operations. The report also recommends reforms aimed at strengthening internal controls and improving verification processes across government institutions.
Officials allegedly linked to the operation are drawn from several federal agencies, including: Office of the Secretary to the Government of the Federation (SGF), Office of the Head of the Civil Service of the Federation, Office of the Accountant-General of the Federation, Budget Office, National Information Technology Development Agency (NITDA)
Dr. Aliyu said the report remains interim, noting that investigators are continuing to gather evidence that could support criminal charges against Adeyemi and other alleged collaborators. He added that President Bola Tinubu has acknowledged the commission’s findings and reaffirmed his administration’s commitment to transparency, accountability and ensuring those responsible are brought to justice.
