ICPC submits interim report to Tinubu, uncovers two more fake agencies

Nigeria's Independent Corrupt Practices and Other Related Offences Commission (ICPC) has presented an interim report to President Bola Tinubu concerning the alleged fraudulent Presidential Foreign Investment Promotion Council (PFIPC). The investigation has brought to light two more fictitious agencies purportedly established by the same individual leading the PFIPC.

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Following the interim report, it has been established that Adeniyi Adeyemi was never appointed by the Federal Government or any authority of government.

ICPC Chairman Musa Aliyu revealed that the commission recommends prosecuting Adeniyi Adeyemi, who claimed to be the Director-General of PFIPC, for forgery, impersonation, and related offenses. Preliminary findings indicate that Adeyemi was never officially appointed by the government, and the PFIPC was never legally established through any government instrument.

Aliyu stated that documents presented by Adeyemi, including an appointment letter and gazette, were forged. The ICPC also discovered that the PFIPC unlawfully occupied office facilities belonging to the former Presidential Economic Advisory Council (PEAC) after breaking locks. Adeyemi allegedly used forged legislative instruments to create the additional agencies, the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency and Public Private Partnership, and to open bank accounts for their operations.

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The appointment letter presented by Adeyemi was completely forged alongside similar documents used to perpetuate the illegal activities of the fake agency.

Crucially, the ICPC confirmed that no federal government funds were approved or disbursed to the PFIPC or its associated entities. The commission also found no evidence that Adeyemi's purported appointment letter originated from the Presidency. The report points to weaknesses in verification procedures and inter-agency oversight as factors that enabled the suspect and his collaborators to exploit the system. The ICPC has recommended administrative sanctions against public officials whose negligence may have facilitated the operation of these fake organizations.

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Our investigation found that no funds of the federal government were approved or disbursed to the fake PFIPC/PEAC.