The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr. Musa Adamu Aliyu (SAN), has revealed the findings of the commission’s investigation into Adeniyi Adeyemi Mathew, who allegedly posed as the Director-General of the fictitious Presidential Foreign Investment Promotion Council (PFIPC).
Speaking at a press conference in Abuja, Aliyu said the investigation was launched after President Bola Tinubu directed the ICPC on July 7, 2026, to probe the activities of the fake agency within 30 days.
He confirmed that the commission had submitted its interim report to the President and was briefing the public in line with the administration’s commitment to transparency and accountability.
According to the ICPC chairman, investigations showed that Adeniyi Adeyemi Mathew was never appointed by the Federal Government or any authorised government body.
He also stated that the PFIPC was never created through any law, executive order or other valid government instrument.
“The appointment letter presented by Adeniyi Adeyemi Mathew was completely forged, along with other documents used to carry out the illegal activities of the fake agency,” Aliyu said.
The commission further found that the fake PFIPC illegally took over the identity and operations of the former Presidential Economic Advisory Council (PEAC), including occupying offices and using official instruments without authorisation.
Aliyu said the suspect engaged in widespread impersonation, false representation and other illegal activities while exploiting weaknesses in verification and inter-agency oversight, aided by what he described as negligence and possible connivance by some public officials.
However, the ICPC stressed that no Federal Government funds were approved or released to the fake PFIPC or PEAC.
The chairman also cleared both the State House and the Central Bank of Nigeria (CBN), saying no weaknesses were found in their systems and confirming that the forged appointment letter did not originate from the Presidency.
The investigation also uncovered two additional fictitious agencies allegedly created by Adeyemi:
FCT Investment Promotion Agency (FIFA)
Foreign Investment Promotion Agency and Public Private Partnership (FIFA-PPP)
According to the ICPC, the suspect allegedly forged enabling Acts to give legitimacy to the fake agencies and used the documents to open bank accounts.
As part of its recommendations, the commission advised that Adeyemi should be prosecuted, while public officers whose negligence or failure to act enabled the illegal operations should face administrative sanctions.
The ICPC also recommended institutional reforms to strengthen government verification processes and prevent similar incidents in the future.
Aliyu added that investigations into the activities, bank accounts and collaborators linked to the fake agencies are still ongoing.
