ICPC Uncovers Two More Fake Agencies in PFIPC Probe

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered two additional fake government agencies allegedly linked to Adeniyi Matthew Adeyemi, the self-acclaimed Director-General of the Presidential Foreign Intervention Promotion Council (PFIPC), as investigations into the alleged fraud continue.

ICPC Chairman, Dr. Musa Adamu Aliyu, disclosed the development on Thursday after presenting the commission’s interim investigation report to President Bola Tinubu at the Presidential Villa in Abuja.

According to Aliyu, investigations confirmed that Adeyemi was never appointed by the Federal Government and that the PFIPC had no legal status, as it was neither established through an Act of the National Assembly nor by an executive order.

The commission also found that the appointment letter used by Adeyemi was forged and that the fake council illegally occupied offices and utilised official materials previously belonging to the defunct Presidential Economic Advisory Council (PEAC).

Aliyu explained that the syndicate exploited weaknesses in verification procedures and coordination among government agencies to present the organisation as a legitimate federal institution.

During the investigation, the commission uncovered two additional fictitious agencies identified as the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency.

According to the ICPC chairman, the fake organisations were created using forged legislative documents and were subsequently used to open bank accounts for alleged illegal financial transactions.

He further revealed that Adeyemi later changed the name of the organisation from the Foreign Investment Promotion Council to the Foreign Intervention Promotion Council in an apparent attempt to expand its activities to include revenue generation.

Aliyu clarified that investigators found no evidence that government funds were allocated or released to the fake council and stated that the operations did not expose any weaknesses within the State House or the Central Bank of Nigeria.

The commission recommended the prosecution of Adeyemi and anyone found to have collaborated with him, while also calling for disciplinary measures against public officials allegedly involved in facilitating the activities of the fake agencies.

The report identified officials from the Office of the Secretary to the Government of the Federation, the Office of the Head of the Civil Service of the Federation, the Office of the Accountant-General of the Federation, the Budget Office of the Federation and the National Information Technology Development Agency as individuals requiring further investigation.

Aliyu noted that investigations remain ongoing and said additional findings could lead to more criminal charges against Adeyemi and other suspects.

He added that President Tinubu had been fully briefed on the matter and reaffirmed the administration’s commitment to transparency, accountability and strengthening safeguards against institutional fraud.