PFIPC: ICPC Submits Probe Report On Adeyemi To President Tinubu

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) on Thursday, submitted an interim report to President Bola Tinubu on its investigation into the alleged fictitious Presidential Foreign Investment Promotion Council (PFIPC) and its purported Director-General, Adeniyi Adeyemi.

Naija News reports that the ICPC recommended the prosecution of Adeyemi.

The ICPC Chairman, Musa Aliyu, disclosed this after meeting President Tinubu at the Presidential Villa, Abuja.

According to Aliyu, preliminary findings revealed that Adeyemi was never appointed by the Federal Government and that the purported appointment letter, gazette and other documents used to establish the agency were forged.

The report submission comes exactly 30 days after Tinubu directed the anti-corruption agency to conduct a thorough investigation into the PFIPC.

The case centres on an alleged corruption and forgery scandal involving the disputed government entity, PFIPC.

Speaking with State House correspondents on Thursday, Aliyu disclosed that the fake PFIPC unlawfully took over the offices and official instruments previously used by the defunct Presidential Economic Advisory Council.

The ICPC chairman said the syndicate operated from the former PEAC office and engaged in impersonation, false representation and other illegal activities by exploiting gaps in verification procedures and coordination among government agencies.

Aliyu further disclosed that Adeyemi later altered the name of the fake organisation from the Foreign Investment Promotion Council to the Foreign Intervention Promotion Council in an attempt to broaden its scope to include revenue generation.

He revealed that investigators also discovered two other fictitious government agencies, the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency, linked to Adeyemi’s operations.

“These agencies were created using forged legislative instruments and were used to open bank accounts for illegal activities,” he said.

According to Aliyu, the ICPC investigations found no funds were approved or disbursed for the fake PFIPC/PEAC.

The commission also recommended the prosecution of Adeyemi, disciplinary action against public officials alleged to have aided the operation of the fake agency, and reforms to strengthen internal controls across government institutions.

Aliyu stressed that investigations are still ongoing on the matter and the report presented to President Tinubu is interim.