The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has confirmed that the purported presidential appointment letter presented by Adeniyi Adeyemi Mathew as Director-General of the fictitious Presidential Foreign Investment Promotion Council (PFIPC) was forged and did not originate from the Presidency.
ICPC Chairman, Dr. Musa Adamu Aliyu (SAN), disclosed this on Thursday while presenting the commission’s interim investigation report, exactly 30 days after President Bola Tinubu directed the agency to probe the alleged fake government agency.
According to Aliyu, investigations established that Adeyemi was never appointed by the Federal Government and that the PFIPC was never created through any law, executive order or other legitimate government instrument.
He said the commission found that the appointment letter and other official documents used by the suspect were forged to facilitate widespread impersonation and other illegal activities. The investigation also revealed that the fake agency unlawfully appropriated the identity and offices of the former Presidential Economic Advisory Council (PEAC).
The ICPC further disclosed that Adeyemi created two additional fictitious agencies—the FCT Investment Promotion Agency (FIPA) and the Foreign Investment Promotion Agency and Public Private Partnership (FIPA-PPP)—using forged enabling laws to open bank accounts and carry out fraudulent activities.
The commission, however, stated that no Federal Government funds were approved or disbursed to the fake agency and cleared both the State House and the Central Bank of Nigeria (CBN) of any wrongdoing, noting that their systems and processes were not compromised.
Aliyu added that while weaknesses in inter-agency verification and oversight were exploited by the suspect, there was evidence of negligence and possible connivance by some public officials.
The ICPC recommended the immediate prosecution of Adeyemi, administrative sanctions against public officers whose negligence enabled the scheme, and institutional reforms to strengthen verification and oversight processes.
The commission also confirmed that investigations into the financial activities, bank accounts and alleged collaborators of the suspect are ongoing.
