Abuja, Aug. 6, 2026 – The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has submitted its interim report on the investigation into the fake federal agency to President Tinubu.
Musa Aliyu, the ICPC Chairman, disclosed this on Thursday after meeting President Bola Tinubu at the Presidential Villa in Abuja.
He said preliminary findings revealed that Adeniyi Adeyemi, the Director-General of the fake agency, Presidential Foreign Investment Promotion Council (PFIPC), was never appointed by the Federal Government and that the purported appointment letter, gazette and other documents used to establish the agency were forged.
He said the agency “was never established by any law or executive order or other instrument of government, and the appointment letter presented by Adeyemi Matthew was completely forged alongside similar documents used to perpetuate the illegal activities of the fake agency.”
The ICPC chair said Adeyemi broke into the office of the former Presidential Economic Advisory Council and illegally appropriated the offices and instruments of operation.
“What we discovered was that the office used by the fake
“What we discovered was that the office used by the fake agency was broken into. The lock was broken, and he had access to the office. That was how he was able to get inside that office, and also the false widespread impersonation and wide range of illegal activities were perpetrated by the fake DG or the fake agency, Adeyemi.
“Also, our internal report found that there are weaknesses in verification, inter-agency oversight and government processes. We discovered that those weaknesses were exploited by Adeyemi with some level of negligence.”
The ICPC boss said the investigation found that no funds belonging to the federal government were approved or disbursed to the council.
“Our investigation revealed two other fake government agencies, namely FCT Investment Promotion Agency and Foreign Investment Promotion Agency and Public Private Partnership.
“To facilitate the creation of the additional two fake agencies, he used forged legislative instruments styled as enabling acts and used them to support the opening of bank accounts.
“We discovered that he has opened two bank accounts in a commercial bank, which he went to use in these illegal activities.”
The ICPC boss said the committee recommended that, the ICPC boss, Adeyemi, should be prosecuted, while administrative sanctions should be imposed on public officers “whose acts of omissions, negligence, facilitated the illegal operation of the council because our investigation found that some public officers failed to do due diligence.”
“They failed to adhere with the standard procedures that are supposed to be complied with in their ministries and departments, and that gave Adeyemi Matthew the opportunity to conduct this illegal act.
“Then institutional reform has also been recommended that there is need for institutional reform so that the internal control of the MDAs can be strengthened to block this kind of illegal activity.”
