ICPC Uncovers Fake Agencies Linked to Self-Styled DG Adeyemi

The Independent Corrupt Practices and Other Related Offences Commission has uncovered two additional fictitious government agencies linked to Adeniyi Matthew Adeyemi, the man who presented himself as Director-General of the Presidential Foreign Intervention Promotion Council without any legal mandate or federal appointment. 

The ICPC fake government agencies Adeyemi PFIPC investigation findings were presented to President Bola Tinubu at the Presidential Villa, Abuja, on Thursday, with ICPC Chairman Dr. Musa Adamu Aliyu briefing State House correspondents on the contents of the commission’s interim report — a document that reveals a scheme significantly broader and more sophisticated than what was initially disclosed when Adeyemi first came to public attention.

The interim investigation established that Adeyemi was never appointed by the Federal Government, that the PFIPC was created without any Act of the National Assembly or executive order, and that the appointment letter he used to operate the agency was forged. 

His syndicate took over the physical offices and official instruments previously used by the now-defunct Presidential Economic Advisory Council, exploiting the institutional vacuum left behind to give his operation visible legitimacy. 

From that base, Adeyemi and his collaborators engaged in impersonation, false representation, and a range of illegal activities made possible by gaps in verification procedures and coordination failures between government agencies. 

The ICPC further found that Adeyemi later altered the name of his fake organisation from the Foreign Investment Promotion Council to the Foreign Intervention Promotion Council, apparently to widen the operational scope of the scheme to include revenue generation activities.

The two newly uncovered fictitious bodies — the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency — were each created using forged legislative instruments and were used to open bank accounts for what investigators described as illegal financial activities. 

The ICPC fake government agencies Adeyemi PFIPC report identified collaborators from within several federal institutions, naming officials from the Office of the Secretary to the Government of the Federation, the Office of the Head of the Civil Service of the Federation, the Office of the Accountant-General of the Federation, the Budget Office of the Federation, and the National Information Technology Development Agency as having facilitated or enabled the scheme’s operation. 

The commission said no government funds were actually approved or disbursed for the fake PFIPC and confirmed that no systemic weaknesses were found in either the State House or Central Bank of Nigeria systems.

The commission has recommended the prosecution of Adeyemi, disciplinary proceedings against identified public officials who aided the operation, and comprehensive institutional reforms to close the verification and coordination gaps the scheme exploited. 

Chairman Aliyu stressed that the report presented to President Tinubu was interim and that investigations remain active, with criminal charges being prepared against Adeyemi and his collaborators as further details continue to emerge. 

For Nigerians watching the case unfold, the ICPC fake government agencies Adeyemi PFIPC findings illustrate both the audacity of the scheme and the institutional failures that allowed a man with forged credentials to occupy federal office space, open bank accounts under fictitious agency names, and operate inside government for an extended period before being detected and exposed.