ICPC Uncovers Two More Alleged Fake Agencies in Expanding PFIPC Investigation

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it has identified two additional fictitious government agencies allegedly linked to Adeniyi Matthew Adeyemi, who presented himself as the Director-General of the Presidential Foreign Intervention Promotion Council (PFIPC).

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

According to Aliyu, investigators established that Adeyemi was never officially appointed by the Federal Government. The commission also concluded that the PFIPC had no legal basis, as it was neither established through an Act of the National Assembly nor by a presidential executive order.

The commission further alleged that the appointment letter relied upon by Adeyemi was forged. Investigators also found that the group unlawfully occupied offices and used official materials previously assigned to the defunct Presidential Economic Advisory Council (PEAC).

Aliyu explained that the alleged syndicate operated from the former PEAC offices, where it engaged in impersonation, false representation and other unlawful activities by taking advantage of weaknesses in verification processes and poor coordination among government institutions.

As part of the ongoing investigation, the ICPC said it uncovered two additional organisations allegedly created without legal authority—the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency. According to the commission, forged legislative documents were used to establish the entities, which were subsequently utilised to open bank accounts for alleged illegal operations.

The ICPC chairman also revealed that Adeyemi later changed the name of the organisation from the Foreign Investment Promotion Council to the Foreign Intervention Promotion Council, a move investigators believe was intended to expand its activities to include revenue-generation initiatives.

Despite the alleged activities of the organisation, the commission stated that its investigation found no evidence that federal funds were approved or released to either the PFIPC or the former PEAC. It also reported that no security or operational lapses were identified within the State House or the Central Bank of Nigeria’s systems.

Based on its interim findings, the ICPC recommended that Adeyemi be prosecuted. The commission also called for disciplinary measures against public officials suspected of assisting the operation of the alleged fake agency and advised the government to strengthen internal control mechanisms to prevent similar occurrences.

The report further 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 (NITDA) as individuals who allegedly collaborated in the scheme.

Aliyu emphasised that the investigation has not been concluded, noting that further inquiries are ongoing to uncover additional evidence and identify other individuals who may have been involved before criminal charges are formally filed.

He added that President Bola Tinubu had been briefed on the interim findings and reiterated the administration’s commitment to transparency, accountability and ensuring that all those found culpable face the appropriate legal consequences.

The ICPC began its investigation after concerns emerged regarding the legitimacy and operations of the Presidential Foreign Intervention Promotion Council, which allegedly portrayed itself as a federal government agency despite lacking any legal establishment. Earlier findings had already indicated that the council was never created by law and that Adeyemi allegedly relied on forged appointment documents while unlawfully occupying facilities previously used by the former Presidential Economic Advisory Council.