PFIPC Scandal: ICPC Uncovers Two More Fake Agencies Linked to Adeyemi

The Independent Corrupt Practices and Other Related Offences Commission, ICPC, has uncovered two additional fake agencies operated by the self-styled Director-General of the Presidential Foreign Intervention Promotion Council, PFIPC, Adeniyi Matthew Adeyemi.

ICPC Chairman, Dr. Musa Adamu Aliyu, SAN, disclosed this to State House correspondents after submitting the commission’s interim report on the existence and operations of the fake agency at the Presidential Villa, Abuja.

Dr. Aliyu said investigations revealed that Adeyemi was never appointed by the Federal Government and that the Presidential Foreign Investment Promotion Council was never established by law or executive order.

According to the interim report, the appointment letter presented by Adeyemi was forged, while the PFIPC illegally took over offices and equipment belonging to the defunct Presidential Economic Advisory Council, PEAC.

He said the fake agency, operating from the former PEAC office, engaged in false representation, widespread impersonation and other illegal activities that exploited gaps in verification and inter-agency oversight.

The ICPC chairman further disclosed that the investigation uncovered two more fake government agencies: 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 added that Adeyemi later changed the name of the fake body from Foreign Investment Promotion Council to Foreign Intervention Promotion Council in an attempt to expand its mandate to include revenue generation.

“The investigation found that no funds were approved or disbursed for the fake PFIPC/PEAC, and there were no weaknesses in the State House or CBN systems,” he said.

Key recommendations in the report, which was produced within 30 days, include the prosecution of Mr. Adeyemi; administrative sanctions against public officers who facilitated the illegal operations; and reforms to strengthen internal controls.

The implicated public officers are from the Office of the Secretary to the Government of the Federation, 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.

“The report is interim and the investigation continues to uncover more details to enable us file criminal charges against Adeyemi and his collaborators,” he said.

Dr. Aliyu added that President Bola Tinubu has taken note of the findings and has reaffirmed his commitment to transparency and accountability in addressing the matter.