RismadarVoice Reporters
August 6, 2026
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has revealed that Adeniyi Adeyemi Mathew, who presented himself as the Director-General of the purported Presidential Foreign Investment Promotion Council (PFIPC), was never appointed by the Federal Government.
ICPC Chairman, Dr Musa Adamu Aliyu, SAN, disclosed this on Wednesday in Abuja while presenting the commission’s interim findings into the activities of Adeyemi and the fictitious agency.
The investigation followed a directive issued by President Bola Tinubu on July 7, 2026, giving the ICPC 30 days to probe the matter.
Aliyu said the investigation established that the PFIPC was not created by any law, executive order or other valid government instrument.
He added that the appointment letter used by Adeyemi was forged, along with other documents allegedly deployed to operate the purported agency.
According to the ICPC chairman, the fake council also unlawfully appropriated offices and operational instruments formerly associated with the Presidential Economic Advisory Council.
The investigation further uncovered alleged impersonation, false representation and other illegal activities carried out by Adeyemi and his associates.
Aliyu said weaknesses in verification procedures, inter-agency oversight and government processes were exploited, with investigators identifying instances of negligence and possible connivance by some public officers.
However, the ICPC found no evidence that federal funds were approved or disbursed to the purported PFIPC or PEAC.
The commission also said its investigation found no systemic weaknesses within the State House or the Central Bank of Nigeria, noting that their relevant processes remained intact.
Aliyu stressed that Adeyemi’s purported appointment letter did not originate from the Presidency.
The ICPC also discovered two other fictitious entities allegedly created by Adeyemi: the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency and Public Private Partnership. The commission said forged legislative documents were used to support the establishment of the entities and the opening of bank accounts.
The ICPC recommended the prosecution of Adeyemi, administrative sanctions against public officials whose negligence or omissions facilitated the activities, and institutional reforms to strengthen government verification and oversight mechanisms.
Aliyu said investigations were still ongoing into the activities, bank accounts and associates linked to Adeyemi and the purported agencies.
