By Augustine Ehikioya
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has recommended the prosecution of Adeniyi Adeyemi Matthew, alleged mastermind behind the fake Presidential Foreign Investment Promotion Council (PFIPC).
The commission claimed that Adeyemi forged presidential documents and illegally occupied government property. This was disclosed on Thursday by ICPC Chairman, Musa Aliyu, while presenting an interim investigative report to President Bola Tinubu at the Presidential Villa, Abuja.
The investigation, ordered by President Tinubu on July 7, was to be completed within 30 days. Briefing State House correspondents, Aliyu said the commission established that Adeyemi was never appointed by the Federal Government and that the PFIPC had no legal backing.
“It has been established that Adeniyi Adeyemi Matthew was never appointed by the Federal Government or any authority whatsoever. The Presidential Foreign Investment Promotion Council was never established by any law, executive order or any valid instrument of government,” Aliyu said.
According to him, the appointment letter and purported government gazette used to legitimise the agency were “completely forged” and “an illegal document that never passed through the processes prescribed by law.”
Aliyu revealed that Adeyemi allegedly broke into the former offices of the defunct Presidential Economic Advisory Council (PEAC) to create the impression of legitimacy. He also created two additional fictitious agencies, the FCT Investment Promotion Agency (FIPA) and the Foreign Investment Promotion Agency/Public-Private Partnership (FIPA-PPP), using fake legislative instruments to open bank accounts.
Despite the scheme, the ICPC said no federal funds were approved or disbursed to the fake council. It also found “no weaknesses in the systems of the State House or the Central Bank of Nigeria” and confirmed that “the fake appointment letter did not originate from the Presidency.”
However, the commission indicted several Ministries, Departments and Agencies (MDAs) for “institutional lapses” and failure of due diligence that enabled the fraud. Agencies cited include the Office of the Secretary to the Government of the Federation, Office of the Head of the Civil Service, Office of the Accountant-General of the Federation, Budget Office and NITDA.
The interim report recommended immediate prosecution of Adeniyi Adeyemi Matthew, administrative sanctions for negligent public officers and institutional reforms to strengthen internal controls across MDAs. Aliyu confirmed that Adeyemi had been interrogated and had made statements to the commission.
He declined to comment on allegations involving about ₦400 million, saying it was part of the ongoing criminal investigation. “Once we conclude everything and proceed to court, Nigerians will see what our investigation uncovered,” he said.
Aliyu added that the investigation into collaborators is ongoing to “file criminal charges that will stand the test of time before a court of competent jurisdiction.” President Tinubu had directed the ICPC to make its findings public “in the spirit of transparency and accountability.”
