The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says Adeniyi Adeyemi Mathew, who paraded himself as Director-General of the Presidential Foreign Investment Promotion Council (PFIPC), was never appointed by the Federal Government.
ICPC Chairman, Dr. Musa Adamu Aliyu (SAN), disclosed this on Thursday while briefing journalists in Abuja on the outcome of the commission’s 30-day investigation ordered by President Bola Tinubu.
“Recall 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,” Aliyu said.
He said the investigation established that the PFIPC “was never established by any law or executive order or other valid instrument of government.”
According to him, “Adeniyi Adeyemi Mathew was never appointed by the Federal Government or any authority of the government,” adding that “the appointment letter presented by Adeniyi Adeyemi Mathew was completely forged.”
Aliyu also dismissed claims that the forged appointment letter originated from the Presidency.
“The fake appointment letter of Adeniyi Adeyemi Mathew did not originate from the Presidency,” he stated.
The ICPC chairman further revealed that Adeyemi created two additional fictitious agencies—the FCT Investment Promotion Agency (FIPA) and the Foreign Investment Promotion Agency and Public Private Partnership (FIPA-PPP)—using forged legislative instruments to facilitate the opening of bank accounts.
He said the probe found that the suspect exploited weaknesses in verification, inter-agency oversight and government processes “with some level of negligence and connivance.”
However, Aliyu clarified that no Federal Government funds were approved or disbursed to the fake PFIPC, adding that no weaknesses were found in the systems of the State House or the Central Bank of Nigeria.
The ICPC recommended the full prosecution of Adeyemi, administrative sanctions against public officers whose negligence enabled the scheme, and institutional reforms to prevent similar incidents.
Aliyu added that investigations into the activities, bank accounts and collaborators of Adeyemi and the fake agencies are ongoing.
