The Independent Corrupt Practices and Other Related Offences Commission has uncovered two additional fake agencies allegedly operated by Adeniyi Matthew Adeyemi, the self-styled director-general of the Presidential Foreign Intervention Promotion Council (PFIPC).
The revelation was made by ICPC chairman, Musa Adamu Aliyu, while briefing State House correspondents after submitting the commission’s interim report to Bola Tinubu at the Presidential Villa, Abuja.
Aliyu said the investigation confirmed that Adeyemi was never appointed by the Federal Government and that the Presidential Foreign Investment Promotion Council was not established by any law or executive order.
According to the report, the appointment letter presented by Adeyemi was forged, while the PFIPC unlawfully appropriated offices and instruments belonging to the defunct Presidential Economic Advisory Council (PEAC).
He said the fake agency used the PEAC office to engage in false representation, impersonation and other illegal activities, exploiting gaps in verification processes and inter-agency oversight.
The ICPC boss disclosed that investigators identified two additional fictitious agencies — the FCT Investment Promotion Agency (PIFA) and the Foreign Investment Promotion Agency (PIPA) — allegedly created using forged legislative instruments.
“These agencies were created using forged legislative instruments and were used to open bank accounts for illegal activities,” he said.
Aliyu further revealed that Adeyemi altered the name of the fake council from Foreign Investment Promotion Council to Foreign Intervention Promotion Council and attempted to expand its mandate to include revenue generation.
“The investigation found no funds were approved or disbursed for the fake PFIPC/PEAC, and there were no weaknesses in the State House or CBN system,” he added.
The commission recommended the prosecution of Adeyemi, sanctions for public officers who facilitated the illegal operations, and reforms to strengthen internal controls across relevant government institutions, including the Office of the Secretary to the Government of the Federation, the Office of the Head of the Civil Service, the Office of the Accountant-General, the Budget Office and the National Information Technology Development Agency.
Aliyu noted that the report is interim and that investigations are ongoing to identify collaborators and gather further evidence ahead of criminal charges.
He added that President Tinubu has taken note of the findings and reaffirmed his administration’s commitment to transparency and accountability in addressing the matter.