LAGOS AUGUST 8TH (NEWSRANGERS)-The investigation into the controversial Presidential Foreign Investment Promotion Council (PFIPC) has widened, with the Independent Corrupt Practices and Other Related Offences Commission (ICPC) uncovering two additional fictitious agencies allegedly linked to the scheme.
The development was disclosed on Thursday by ICPC Chairman, Musa Aliyu, after he submitted an interim report on the investigation to President Bola Tinubu at the Presidential Villa in Abuja.
The two agencies identified by the commission are the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency and Public Private Partnership.
According to Aliyu, the agencies were allegedly created by Adeniyi Adeyemi, the self-proclaimed Director-General of PFIPC, as part of efforts to facilitate and expand the activities of the purported organisation.
The ICPC chairman said the suspect allegedly relied on forged legislative instruments to give the fictitious agencies an appearance of legitimacy and used the documents to open bank accounts for their operations.
The latest findings form part of a broader investigation ordered by President Tinubu following concerns surrounding the existence and activities of PFIPC.
Aliyu said the commission’s preliminary investigation established that Adeyemi was never appointed by the Federal Government or any government authority, while PFIPC itself was not established through any law, executive order or valid government instrument.
“Following the interim report, it has been established that Adeniyi Adeyemi was never appointed by the Federal Government or any authority of government,” he said.
The investigation also uncovered documents allegedly used to support the purported existence of the organisation.
According to the ICPC, the appointment letter, gazette and other documents presented by Adeyemi were forged.
“The appointment letter presented by Adeyemi was completely forged alongside similar documents used to perpetuate the illegal activities of the fake agency,” he said.
The commission further alleged that PFIPC appropriated the identity and office facilities of the former Presidential Economic Advisory Council (PEAC).
Aliyu said the premises were allegedly accessed after locks were broken, allowing the suspect to operate from the location.
Beyond the alleged misuse of government facilities, the investigation uncovered what the commission described as widespread impersonation and false representation carried out through the purported agency.
Despite the scale of the allegations, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) said it found no evidence that federal government funds were approved or released to PFIPC or those operating it.
“Our investigation found that no funds of the federal government were approved or disbursed to the fake PFIPC/PEAC.”
The commission also said there was no evidence that the purported appointment letter used by Adeyemi originated from the Presidency.
However, Aliyu pointed to weaknesses in verification procedures and inter-agency oversight as factors that allegedly created room for the activities to continue.
The ICPC has consequently recommended both criminal and administrative measures.
According to the commission, Adeyemi should face prosecution over alleged forgery, impersonation and related offences, while public officials whose actions, omissions or negligence may have enabled the operation of the purported organisation could face administrative sanctions.
“Adeniyi Adeyemi should be prosecuted, while administrative sanctions should be imposed on public officers whose acts of commission, omission and negligence facilitated the illegal operation of PFIPC/PEAC,” he said.
The commission also recommended institutional reforms aimed at strengthening internal controls across Ministries, Departments and Agencies (MDAs) and preventing similar incidents in the future.
For now, however, the investigation is not over.
Aliyu said investigators were still working to identify other individuals who may have been involved and gather sufficient evidence before criminal charges are filed.
“We have continued with the investigation of the activities of Mr Adeniyi Adeyemi Matthew and his collaborators so that we can unravel more and file criminal charges that can stand the test of time,” Mr Aliyu said.
The report was submitted exactly 30 days after President Tinubu directed the ICPC to investigate the PFIPC controversy and report its findings.
Speaking after the briefing, Sunday Dare, Special Adviser to the President on Media and Public Communications, said Tinubu would study the interim report and consult with the Attorney-General of the Federation before deciding on the next course of action.
Dare added that relevant agencies, including law enforcement authorities, would continue their investigations until the matter is comprehensively resolved.
With two more alleged fictitious agencies now emerging from the investigation, the ICPC’s findings have added another layer to a controversy that began with questions over the legitimacy of PFIPC and the authority under which it operated.
The Guardian-Nigeria
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