The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has given an interim report to President Bola Tinubu about its investigation into the fake Presidential Foreign Investment Promotion Council (PFIPC).
A key point in the report is the finding of two more fake agencies.
ICPC Chairman, Musa Aliyu, shared this on Thursday after meeting Mr Tinubu at the Presidential Villa in Abuja. This comes exactly 30 days after the President asked for a probe into the issue.
Mr Aliyu said the commission wants the self-proclaimed Director-General of PFIPC, Adeniyi Adeyemi, to be prosecuted. He is facing charges of forgery, impersonation, and other related crimes.
He explained that initial findings showed that Adeyemi was not appointed by the Federal Government. He added that PFIPC was not created by any law, executive order, or valid government document.
“Following the interim report, it has been established that Adeniyi Adeyemi was never appointed by the Federal Government or any authority of government,” he stated.
Mr Aliyu also mentioned that the appointment letter, gazette, and other documents used to support the existence of PFIPC were all forged.
“The appointment letter presented by Adeyemi was completely forged alongside similar documents used to perpetuate the illegal activities of the fake agency,” he said.
He noted that ICPC discovered that PFIPC illegally took the identity and office space of the former Presidential Economic Advisory Council (PEAC).
He claimed that the office was accessed unlawfully after locks were broken, allowing the suspect to work from there.
Mr Aliyu said investigations showed widespread impersonation and false representation through the fake agency.
He revealed that ICPC found two more fake agencies supposedly created by Adeyemi to push the scheme and expand its activities.
These agencies are the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency and Public Private Partnership.
Mr Aliyu stated that the suspect used forged legislative papers to support the creation of these agencies and to open bank accounts for their operations.
He clarified that no federal government money was approved or given to PFIPC or its operators.
“Our investigation found that no funds of the federal government were approved or disbursed to the fake PFIPC/PEAC,” he said.
The ICPC chairman added that there was no proof that the fake appointment letter came from the Presidency.
He pointed out that weaknesses in checking procedures and inter-agency oversight allowed the suspect and his partners to exploit the system.
Mr Aliyu said the commission recommended that public officials who helped the fake organisation face administrative penalties.
He added that they suggested reforms to improve internal controls across Ministries, Departments, and Agencies (MDAs).
“Adeniyi Adeyemi should be prosecuted, while administrative sanctions should be imposed on public officers whose acts of commission, omission and negligence facilitated the illegal operation of PFIPC/PEAC,” he said.
Mr Aliyu mentioned that the investigation is still ongoing. They want to find collaborators and gather more evidence before filing criminal charges.
“We have continued with the investigation of the activities of Mr Adeniyi Adeyemi Matthew and his collaborators so that we can unravel more and file criminal charges that can stand the test of time,” Mr Aliyu said.
Earlier, Sunday Dare, the Special Adviser to the President on Media and Public Communications, said the president would go through the report and consult with the Attorney-General of the Federation before deciding on the next steps.
Mr Dare also said that all relevant agencies, including law enforcement, would keep investigating to ensure the matter is fully addressed.
The ICPC report came after a presidential order last month directed the commission to investigate the scandal surrounding PFIPC. On 7 July, President Tinubu instructed the ICPC to look into the PFIPC and provide a report within 30 days.
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