The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered two additional fake government agencies allegedly created and operated by self-acclaimed Presidential Foreign Intervention Promotion Council (PFIPC) Director-General, Adeniyi Matthew Adeyemi.
The latest findings emerged from the commission’s ongoing investigation into the activities of the controversial organisation, with the ICPC recommending criminal prosecution and disciplinary measures against those allegedly involved.
ICPC Chairman, Dr. Musa Adamu Aliyu (SAN), disclosed the development after presenting the commission’s interim investigative report to President Bola Tinubu at the Presidential Villa in Abuja.
According to him, investigators established that Adeyemi was never appointed by the Federal Government and that the Presidential Foreign Investment Promotion Council had no legal foundation, having never been created through legislation or an executive order. The commission also found that the appointment letter used by Adeyemi was forged.
The interim report stated that the fake agency unlawfully occupied facilities previously used by the Presidential Economic Advisory Council (PEAC), where it allegedly carried out false representation, impersonation and other unlawful activities. Investigators said the operation exploited weaknesses in institutional verification and inter-agency coordination, enabling the organisation to present itself as a legitimate government body.
Beyond the PFIPC investigation, the commission uncovered two additional organisations allegedly established using forged legislative documents. The agencies identified are the FCT Investment Promotion Agency (PIFA) and the Foreign Investment Promotion Agency (PIPA).
According to the ICPC, both organisations were used to open bank accounts that allegedly facilitated illegal financial activities. The commission further revealed that Adeyemi later altered the name of the fake council from Foreign Investment Promotion Council to Foreign Intervention Promotion Council while attempting to broaden its responsibilities to include revenue generation.
Despite the elaborate scheme, Dr. Aliyu stated that investigators found no evidence that funds were officially approved or released to the fake agency. He also clarified that the investigation did not uncover weaknesses within the systems of either the State House or the Central Bank of Nigeria (CBN) that enabled the operation.
As part of its interim recommendations, the commission called for the prosecution of Adeyemi and administrative sanctions against public officials alleged to have facilitated the illegal operations.
Those reportedly under scrutiny include officials from the Office of the Secretary to the Government of the Federation (SGF), the Office of the Head of the Civil Service of the Federation, the Office of the Accountant-General of the Federation, the Budget Office and the National Information Technology Development Agency (NITDA).
The ICPC also recommended reforms aimed at strengthening internal controls and improving verification procedures across government institutions to prevent similar incidents.
Dr. Aliyu emphasised that the report submitted to the Presidency is only an interim report, noting that investigations remain active as the commission works to uncover additional details and prepare criminal charges against all individuals found to have participated in the alleged fraud. He added that President Bola Tinubu has acknowledged the findings and reaffirmed his administration’s commitment to transparency, accountability and ensuring that those responsible face the full weight of the law.
