Adeyemi’s Appointment Letter Forged, Fake Investment Council Had No Legal Backing, Says ICPC Boss
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has established 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.
The ICPC Chairman, Dr. Musa Adamu Aliyu, SAN, disclosed this on Thursday at a press conference in Abuja, following a 30-day investigation ordered by President Bola Ahmed Tinubu into the activities of the purported agency.
Aliyu said the investigation also established that the PFIPC was never created by any law, executive order or other valid government instrument.
According to him, the appointment letter presented by Adeyemi was forged, alongside other documents allegedly used to facilitate the operations of the fictitious agency.
“Recall that the President, on July 7, 2026, gave ICPC 30 days to investigate the fake Presidential Foreign Investment Promotion Council, and today is exactly 30 days. I have just submitted the interim report and briefed Mr. President accordingly,” the ICPC chairman said.
He said the President’s decision to authorise the investigation was consistent with the principles of transparency and accountability, adding that he was directed to brief Nigerians on the findings.
The ICPC chairman further disclosed that the purported PFIPC had allegedly appropriated the offices and operational instruments of the former Presidential Economic Advisory Council (PEAC), using them to project itself as a legitimate government institution.
He said the investigation uncovered widespread false representation, impersonation and other illegal activities allegedly perpetrated by Adeyemi and his associates.
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Aliyu also said weaknesses in verification procedures, inter-agency oversight and government processes were exploited, with the investigation identifying elements of negligence and possible connivance.
However, he clarified that the investigation found no evidence that Federal Government funds were approved or disbursed to the purported PFIPC or PEAC.
The ICPC chairman also absolved the State House and the Central Bank of Nigeria (CBN) of any systemic breach, saying the processes within both institutions were found to be above board.
He stressed that Adeyemi’s purported appointment letter did not originate from the Presidency.
According to the ICPC, the investigation also uncovered two additional fictitious government agencies allegedly created by Adeyemi: the FCT Investment Promotion Agency (FIFA) and the Foreign Investment Promotion Agency and Public Private Partnership (FIFA-PPP).
Aliyu said Adeyemi allegedly forged legislative instruments presented as enabling Acts for the fictitious agencies and used the documents to facilitate the opening of bank accounts.
The ICPC has recommended the full prosecution of Adeyemi, as well as administrative sanctions against public officers whose alleged omissions or negligence facilitated the operations of the purported PFIPC/PEAC.
The commission also recommended institutional reforms to strengthen government verification, inter-agency oversight and related processes.
Aliyu said the investigation was still ongoing, particularly into the activities and bank accounts linked to the purported PFIPC, Adeyemi and his alleged collaborators.
He assured Nigerians that the commission would continue to pursue the matter and establish the full extent of the alleged fraud and institutional lapses.
By PRNigeria
