The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has identified two more fictitious government agencies tied to Adeniyi Matthew Adeyemi, the self-styled Director-General of the Presidential Foreign Intervention Promotion Council (PFIPC).
ICPC Chairman Dr. Musa Adamu Aliyu, SAN, revealed the findings while briefing State House correspondents after submitting an interim report on the matter at the Presidential Villa in Abuja.
According to the commission, Adeyemi was never appointed by the Federal Government, and the PFIPC itself was never established by law or executive order. The appointment letter he presented was forged. Investigators found that the purported agency had illegally taken over offices and official instruments belonging to the former Presidential Economic Advisory Council (PEAC).
Operating from the old PEAC premises, the fake body engaged in false representation, impersonation of government authority, and other illegal activities that exploited gaps in verification processes and inter-agency oversight.
The probe further exposed two additional sham entities created with forged legislative instruments: the FCT Investment Promotion Agency (PIFA) and the Foreign Investment Promotion Agency (PIPA). These were used to open bank accounts for unlawful purposes. Adeyemi later altered the name of the original fake council from “Foreign Investment Promotion Council” to “Foreign Intervention Promotion Council” in an apparent bid to broaden its claimed mandate to include revenue generation.
The interim report confirmed that no public funds were approved or disbursed to the PFIPC or the former PEAC under Adeyemi’s control, and that neither the State House nor the Central Bank of Nigeria systems showed institutional weaknesses that enabled the scheme.
Recommendations from the 30-day investigative committee include the prosecution of Adeyemi, administrative sanctions against public officers who facilitated the operations, and reforms to strengthen internal controls. Officials from the Office of the Secretary to the Government of the Federation, the Head of the Civil Service of the Federation, the Accountant-General’s Office, the Budget Office, and the National Information Technology Development Agency (NITDA) have been identified as having played enabling roles.
Dr. Aliyu emphasised that the report remains interim and that investigations continue with a view to filing criminal charges against Adeyemi and his collaborators. President Bola Tinubu has noted the findings and reaffirmed his administration’s commitment to transparency and accountability.
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