The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has absolved Femi Gbajabiamila, Chief of Staff to President Bola Tinubu, of any wrongdoing in the controversy surrounding the so-called Presidential Foreign Investment Promotion Council (PFIPC).
The anti-graft agency said the purported Director-General of the PFIPC, Prince Adeniyi Adeyemi, was never appointed by the federal government and that the appointment letter he presented was forged. It described the PFIPC as a fictitious organisation that never existed under any law, executive order or valid government instrument.
ICPC Chairman Dr Musa Aliyu (SAN) disclosed the findings on Thursday while briefing journalists after submitting the commission’s interim investigation report to President Tinubu at the State House in Abuja.
President Tinubu had on July 7 directed the ICPC to probe Adeyemi’s claim that he paid ₦400 million to Gbajabiamila to secure the director-general position. The agency was given 30 days to investigate and report.
“We have discovered and it has been established that Adeniyi Adeyemi Matthew was never appointed by the federal government or any authority of government,” Aliyu said. “The Presidential Foreign Investment Promotion Council… was never established by any law, executive order or any other valid instrument of government, and the appointment letter presented by Adeniyi Adeyemi Matthew was completely forged.”
Investigators found that Adeyemi, who is currently in custody, also created two other fictitious agencies, the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency and Public Private Partnership. He allegedly broke into the former offices of the Presidential Economic Advisory Council (PEAC), took them over, and used the premises to run his scheme.
The fake body relied on a forged gazette and other fabricated documents. It later changed its name to the Presidential Foreign Intervention Promotion Council in an apparent bid to expand its claimed mandate.
The ICPC said no federal government funds were approved or disbursed to the fake organisations. It found no weaknesses in the systems of the State House or the Central Bank of Nigeria, and confirmed that the forged appointment letter did not originate from the Presidency.
However, the commission identified serious gaps in verification processes and inter-agency coordination that allowed the scheme to operate. Officials linked to 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 and the National Information Technology Development Agency (NITDA) were named in connection with negligence or omission.
Aliyu said the ICPC recommended the prosecution of Adeyemi, administrative sanctions against public officers whose negligence facilitated the fraud, and institutional reforms to tighten internal controls across ministries, departments and agencies.
Special Adviser to the President on Media and Public Communications, Sunday Dare, said Tinubu would study the interim report and consult the Attorney-General of the Federation before deciding the next steps. The President directed that the findings be made public in the interest of transparency. Parallel investigations by the National Assembly, the Nigeria Police Force and other agencies are continuing.
Separately, Federal Road Safety Corps (FRSC) Corps Marshal Shehu Mohammed told a House of Representatives ad hoc committee that the FRSC had issued official number plates for seven vehicles belonging to the fake agency. The vehicles included a 2024 armoured Lexus LX, two Toyota Land Cruisers and several Hilux models.
Mohammed said the FRSC was misled by what appeared to be authentic government letterheads, a website carrying a federal domain that listed President Tinubu as board chairman alongside senior officials, and successful REMITA payment verifications. He described the episode as an isolated failure and said the corps had begun recovering the plates while strengthening its verification procedures.
Committee chairman Hon. Yusuf Gagdi criticised the FRSC for missing what he called glaring irregularities, including the improbable listing of the President as board chairman of such a body.
A story of courage, wonder, and the transformative power of self-belief; perfect for readers aged 10+ who love adventure. To place order: +234 806 130 3237 | +234 803 582 0870 OR Tap the link to grab a copy:https://www.zeekapublish.com/product/the-magical-life-of-anna
