The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered two additional fake government agencies linked to the ongoing investigation into the alleged fraudulent activities of the self-styled Director-General of the Presidential Foreign Intervention Promotion Council (PFIPC), Adeniyi Matthew Adeyemi.
ICPC Chairman, Dr. Musa Adamu Aliyu, disclosed this on Thursday while briefing State House correspondents after presenting the commission’s interim investigation report to President Bola Tinubu at the Presidential Villa, Abuja.
According to Aliyu, investigators established that Adeyemi was never appointed by the Federal Government and that the PFIPC had no legal foundation, as it was neither created by an Act of the National Assembly nor established through an Executive Order.
The commission said its investigation revealed that the appointment letter used by Adeyemi was forged and that the fake PFIPC unlawfully occupied the offices and utilised official instruments previously belonging to the defunct Presidential Economic Advisory Council (PEAC).
Aliyu explained that the syndicate operated from the former PEAC office, allegedly engaging in impersonation, false representation and other illegal activities by exploiting gaps in government verification processes and inter-agency coordination.
He disclosed that investigators also uncovered two other fictitious agencies—the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency—which were allegedly created using forged legislative instruments and used to open bank accounts for illegal activities.
The ICPC chairman 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 widen its mandate to include revenue generation.
Despite the elaborate scheme, Aliyu said investigators found that no government funds were approved or disbursed to the fake PFIPC or PEAC and that there were no identified weaknesses in the systems of the State House or the Central Bank of Nigeria.
The commission recommended the prosecution of Adeyemi, disciplinary action against public officials alleged to have assisted the operation of the fake agency, and reforms aimed at strengthening internal controls across government institutions.
According to the interim report, 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 were identified as collaborators in the scheme.
Aliyu stressed that the investigation remains ongoing, noting that the commission expects to uncover more evidence ahead of filing criminal charges against Adeyemi and other suspected collaborators.
He added that President Tinubu had been briefed on the findings and reaffirmed his administration’s commitment to transparency, accountability and ensuring that all those involved are brought to justice.
The ICPC launched its investigation after questions emerged over the existence and activities of the Presidential Foreign Intervention Promotion Council, which allegedly operated as a federal agency despite having no legal backing.