The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr. Musa Adamu Aliyu (SAN), has ...
The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr. Musa Adamu Aliyu (SAN), has said the appointment letter presented by Adeniyi Adeyemi Mathew as Director-General of the purported Presidential Foreign Investment Promotion Council (PFIPC) did not originate from the Presidency.
Aliyu made the disclosure on Thursday while briefing journalists in Abuja on the interim findings of the commission's investigation into the alleged fake agency, according to his remarks at the press conference.
He recalled that President Bola Ahmed Tinubu had, on July 7, 2026, directed the ICPC to investigate the purported PFIPC within 30 days, adding that the commission had submitted its interim report to the President.
According to the ICPC chairman, investigators established that Adeniyi Adeyemi Mathew was never appointed by the Federal Government or any government authority.
He further stated that the PFIPC was never established by any law, executive order or any other valid instrument of government.
Aliyu said the commission found that the appointment letter presented by Adeyemi, along with other documents used in the operation of the organisation, had been forged.
According to him, the investigation also revealed that the purported PFIPC unlawfully appropriated the identity, offices and operational instruments of the former Presidential Economic Advisory Council (PEAC).
The ICPC chairman alleged that false representation, impersonation and other illegal activities were carried out under the guise of the fake agency.
He added that the interim report showed that weaknesses in verification, inter-agency oversight and government processes were exploited by Adeyemi, with what he described as "some level of negligence and connivance."
Aliyu, however, said the investigation found no evidence that Federal Government funds were approved or disbursed to the purported PFIPC or PEAC.
He also stated that the commission found no weaknesses in the systems or processes of either the State House or the Central Bank of Nigeria (CBN), describing their procedures as "above board."
"The fake appointment letter of Adeniyi Adeyemi Mathew did not originate from the Presidency," the ICPC chairman said.
According to Aliyu, investigators also discovered that Adeyemi allegedly created two additional fictitious government agencies—the FCT Investment Promotion Agency (FIFA) and the Foreign Investment Promotion Agency and Public Private Partnership (FIFA-PPP).
He alleged that forged legislative instruments presented as enabling Acts were used to facilitate the creation of the entities and to support the opening of bank accounts.
The ICPC chairman said the commission had recommended the full prosecution of Adeyemi, administrative sanctions against public officers whose acts of omission or negligence allegedly enabled the operations of the fake agency, as well as institutional reforms to prevent similar occurrences.
Aliyu added that investigations into the activities and bank accounts linked to the purported PFIPC, Adeyemi and his alleged collaborators were ongoing.
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