The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it 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 its investigation into the alleged fraud widens.
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, investigators 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 allegedly used by Adeyemi was forged. Investigators further revealed that the fake PFIPC unlawfully occupied offices and used official materials previously assigned to the now-defunct Presidential Economic Advisory Council (PEAC).
Aliyu said the alleged syndicate exploited weaknesses in verification processes and coordination among government institutions to carry out impersonation, false representation and other illegal activities while operating from the former PEAC office.
As the probe progressed, investigators uncovered two additional fictitious agencies—the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency. According to the ICPC chairman, both organisations were allegedly created using forged legislative documents and were used to open bank accounts for unlawful transactions.
He further disclosed that Adeyemi later changed the name of the organisation from the Foreign Investment Promotion Council to the Foreign Intervention Promotion Council, allegedly to expand its activities into revenue generation. The commission, however, stated that no government funds were approved or released to the fake PFIPC or PEAC and found no weaknesses within the systems of the State House or the Central Bank of Nigeria (CBN).
Based on its interim findings, the ICPC recommended the prosecution of Adeyemi and disciplinary action against public officials allegedly involved in facilitating the operation of the fake agency. The commission also called for reforms to strengthen internal controls across government institutions.
Aliyu said officials from the Office of the Secretary to the Government of the Federation (OSGF), 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 (NITDA) had been identified as collaborators in the scheme.
He stressed that the investigation remains ongoing and could expose more individuals connected to the alleged fraud.
“The report is interim and the investigation continues to uncover more details to file criminal charges against Adeyemi and his collaborators,” Aliyu said, adding that President Tinubu has been briefed on the findings and reaffirmed his administration’s commitment to transparency and accountability.
