The Independent Corrupt Practices and Other Related Offences Commission has uncovered two additional alleged fake government agencies linked to the self-styled Director-General of the Presidential Foreign Investment Promotion Council, Adeniyi Matthew Adeyemi.

The ICPC Chairman, Dr Musa Adamu Aliyu (SAN), disclosed this while briefing State House correspondents at the Presidential Villa, Abuja, after submitting the commission’s interim report on the existence and operations of the alleged fake agency.

Aliyu said the investigation established that Adeyemi was never appointed by the Federal Government and that the Presidential Foreign Investment Promotion Council was not created by any law or executive order.

According to him, the appointment letter allegedly presented by Adeyemi was forged, while the purported agency unlawfully appropriated offices and official instruments previously belonging to the Presidential Economic Advisory Council.

The ICPC chairman said the alleged fake agency used the former PEAC office to carry out activities involving false representation, impersonation and other illegal operations, exploiting weaknesses in verification and inter-agency oversight.

He said the investigation also uncovered two other alleged fake agencies — the FCT Investment Promotion Agency (PIFA) and the Foreign Investment Promotion Agency (PIPA).

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

The ICPC boss further disclosed that Adeyemi changed the name of the purported agency from the Foreign Investment Promotion Council to the Foreign Intervention Promotion Council and attempted to expand its mandate to include revenue generation.

He added that the investigation found no evidence that funds had been approved or released for the alleged fake PFIPC or the former PEAC.

“The investigation found no funds were approved or disbursed for the fake PFIPC/PEAC, and there were no weaknesses in the State House or CBN system,” he said.

The ICPC committee investigating the matter was given 30 days to unravel how the alleged fake agency operated.

Among its interim recommendations are the prosecution of Adeyemi, administrative sanctions against public officials who allegedly facilitated the operations, and reforms aimed at strengthening internal controls and verification procedures.

Aliyu said officials from the Office of the Secretary to the Government of the Federation, the Head of the Civil Service of the Federation, the Accountant-General’s Office, the Budget Office and the National Information Technology Development Agency were identified as alleged collaborators.

He stressed that the report remained interim and that investigations were continuing to establish further facts and prepare criminal charges against Adeyemi and others allegedly involved.

Aliyu added that President Bola Tinubu had taken note of the findings and reaffirmed his commitment to transparency and accountability in addressing the matter.