NEWS
ICPC Uncovers Two More Fake Agencies in Expanding PFIPC Scandal, Recommends Prosecution of Alleged Mastermind
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered two additional fake government agencies allegedly operated by the self-styled Director-General of the Presidential Foreign Intervention Promotion Council (PFIPC), Adeniyi Matthew Adeyemi, as investigations into the widening scandal continue.
The latest revelation was made by the Chairman of the ICPC, Dr. Musa Adamu Aliyu, SAN, while briefing State House correspondents after presenting the commission’s interim investigative report on the existence and operations of the controversial agency at the Presidential Villa in Abuja.
According to Dr. Aliyu, the investigation established that Adeyemi was never appointed by the Federal Government and that the Presidential Foreign Investment Promotion Council had never been established through any law or executive order.
The interim report further revealed that the appointment letter presented by Adeyemi was forged, while the fake PFIPC unlawfully appropriated offices and official instruments belonging to the former Presidential Economic Advisory Council (PEAC).
The ICPC Chairman explained that the fraudulent agency operated from the former PEAC office and engaged in false representation, widespread impersonation and other illegal activities, taking advantage of weaknesses in verification processes and inter-agency oversight.
As investigations deepened, the commission uncovered two additional fake government agencies allegedly linked to the suspect: the FCT Investment Promotion Agency (PIFA) and the Foreign Investment Promotion Agency (PIPA).
“These agencies were created using forged legislative instruments and were used to open bank accounts for illegal activities,” he said.
Dr. Aliyu further disclosed that Adeyemi changed the name of the fake agency from the Foreign Investment Promotion Council to the Foreign Intervention Promotion Council and attempted to broaden its mandate to include revenue generation activities.
Addressing concerns over possible financial losses to government institutions, the ICPC Chairman stated:
“The investigation found no funds were approved or disbursed for the fake PFIPC/PEAC, and there were no weaknesses in the State House or CBN system.”
The commission’s interim report also recommended the prosecution of Adeyemi, administrative sanctions against public officers who allegedly facilitated the illegal operations, and comprehensive reforms aimed at strengthening internal control mechanisms to prevent similar incidents.
According to the report, officials alleged to have collaborated in the scheme are drawn from the Office of the Secretary to the Government of the Federation (SGF), 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).
Dr. Aliyu emphasized that investigations remain ongoing as the commission continues to gather evidence and identify additional collaborators.
“The report is interim and the investigation continues to uncover more details to file criminal charges against Adeyemi and his collaborators,” he said.
He also disclosed that President Bola Ahmed Tinubu has been briefed on the findings of the investigation and has reaffirmed his administration’s commitment to transparency, accountability and ensuring that all those found culpable are brought to justice.