The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered two additional fictitious government agencies allegedly linked to Adeniyi Matthew Adeyemi, the self-proclaimed Director-General of the Presidential Foreign Intervention Promotion Council (PFIPC), as investigations into the alleged fraud continue.
The ICPC Chairman, Dr. Musa Adamu Aliyu, disclosed this on Thursday while briefing State House correspondents at the Presidential Villa, Abuja, after presenting the commission’s interim investigation report to President Bola Tinubu.
Aliyu said the investigation established that Adeyemi was never appointed by the Federal Government and that the Presidential Foreign Intervention Promotion Council had no legal backing, having neither been established by an Act of the National Assembly nor created through an executive order.
According to the interim findings, the appointment letter allegedly used by Adeyemi was forged, while the purported PFIPC unlawfully took over offices and official instruments previously used by the defunct Presidential Economic Advisory Council (PEAC).
The ICPC chairman said the alleged syndicate operated from the former PEAC office and engaged in impersonation, false representation and other unlawful activities, exploiting gaps in verification procedures and coordination among government institutions.
He said investigators subsequently discovered two other fictitious government agencies — the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency.
“These agencies were created using forged legislative instruments and were used to open bank accounts for illegal activities,” Aliyu said.
The investigation also found that Adeyemi later changed the name of the purported organisation from the Foreign Investment Promotion Council to the Foreign Intervention Promotion Council, allegedly in an attempt to expand its scope to revenue generation.
Aliyu, however, clarified that the investigation found no evidence that funds were approved or disbursed for the fake PFIPC/PEAC and that there were no weaknesses in the State House or Central Bank of Nigeria (CBN) systems.
The commission has recommended the prosecution of Adeyemi, disciplinary action against public officials alleged to have aided the operation of the fake agency and reforms to strengthen internal controls across government institutions.
According to the interim report, 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) were identified as collaborators in the alleged scheme.
Aliyu stressed that the investigation remained ongoing, noting that investigators were working to uncover further details that could support criminal charges against Adeyemi and other alleged collaborators.
“The report is interim and the investigation continues to uncover more details to file criminal charges against Adeyemi and his collaborators,” he said.
He added that President Tinubu had been briefed on the findings as the administration continues to emphasise transparency and accountability in government operations.
The ICPC began investigating the matter after questions were raised over the existence and activities of the Presidential Foreign Intervention Promotion Council, which allegedly presented itself as a federal government agency despite having no legal foundation.
Earlier findings established that the council was never created by law, while Adeyemi was found to have allegedly used forged appointment documents and unlawfully occupied facilities belonging to the former Presidential Economic Advisory Council.
With two additional fictitious agencies now uncovered, the ICPC investigation has widened beyond the purported PFIPC, with the commission expected to establish the full extent of the alleged scheme and identify all individuals who may have participated in or facilitated its activities.
