…Recommends prosecution
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered two additional fictitious government agencies allegedly created by the self-styled Director-General of the Presidential Foreign Intervention Promotion Council (PFIPC), Adeniyi Adeyemi Matthew, as it deepens its investigation into the fake agency scandal.
ICPC Chairman, Dr. Musa Adamu Aliyu (SAN), disclosed the findings yesterday after submitting the Commission’s interim report to President Bola Tinubu at the Presidential Villa, Abuja, following a 30-day probe ordered by the President.
According to Aliyu, investigations established that Adeyemi was never appointed by the Federal Government and that neither the Presidential Foreign Investment Promotion Council nor the Presidential Foreign Intervention Promotion Council was created by any law, executive order or other valid government instrument. He added that the appointment letter and other documents presented by the suspect were forged.
The ICPC chairman revealed that investigators discovered two more fake agencies allegedly floated by Adeyemi: the FCT Investment Promotion Agency (FIPA) and the Foreign Investment Promotion Agency/Public-Private Partnership (FIPA-PPP). He said forged legislative instruments were used to give legitimacy to the agencies and facilitate the opening of bank accounts for their operations.
Aliyu further disclosed that the suspect unlawfully occupied offices previously used by the defunct Presidential Economic Advisory Council (PEAC), creating the impression that the fictitious organisation was a legitimate government institution. He also alleged that Adeyemi changed the agency’s name from ‘Foreign Investment Promotion Council’ to ‘Foreign Intervention Promotion Council’ while attempting to expand its purported mandate.
The Commission said its investigation found no evidence that Federal Government funds were approved or disbursed to the fake agency and that there were no weaknesses in the State House or Central Bank of Nigeria (CBN) systems that enabled its operation. However, it identified lapses in verification procedures and inter-agency oversight, as well as negligence by some public officials, which were exploited by the suspect.
Based on its findings, the ICPC recommended the immediate prosecution of Adeyemi, administrative sanctions against public officers whose negligence facilitated the operation of the fake agencies, and institutional reforms to strengthen internal controls across government ministries, departments and agencies (MDAs). The Commission noted that investigations remain ongoing and that additional criminal charges could follow as more evidence emerges.
