The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it has uncovered two additional fake government agencies allegedly created by Adeniyi Adeyemi, the man at the centre of the controversial Presidential Foreign Investment Promotion Council (PFIPC) scandal.
The anti-graft agency said the discovery was made during its ongoing investigation into the activities of the purported council, which has already been declared an illegal organisation with no legal backing.
The development was disclosed on Thursday by ICPC Chairman, Dr. Musa Adamu Aliyu (SAN) while briefing State House correspondents after presenting the Commission’s interim investigation report to President Bola Ahmed Tinubu at the Presidential Villa in Abuja.
The report followed the 30-day investigation ordered by President Tinubu on July 7 into the operations of the alleged Presidential Foreign Investment Promotion Council.
According to Aliyu, investigators confirmed that Adeniyi Adeyemi was never appointed by the Federal Government and that the PFIPC was never established by any law, executive order or recognised government authority.
The ICPC chairman further revealed that the suspect allegedly created two additional fictitious agencies in an attempt to expand the fraudulent operation.
The agencies were identified as the FCT Investment Promotion Agency (FIPA) and the Foreign Investment Promotion Agency/Public-Private Partnership (FIPA-PPP).
“The ICPC also discovered that Adeniyi Adeyemi created two additional fictitious government agencies apart from the one already known in the public domain,” Aliyu said.
According to the Commission, Adeyemi allegedly relied on forged legislative documents, presented as enabling Acts, to create the fake agencies and give them the appearance of legitimacy.
Investigators also discovered that the suspect allegedly used the forged documents to open two commercial bank accounts for the operations of the fictitious organisations.
The ICPC said the latest discoveries further strengthened its case against Adeyemi as investigations continue.
Based on its findings so far, the Commission has recommended that Adeyemi be prosecuted for his alleged role in creating and operating the fake agencies.
The anti-graft agency also recommended disciplinary action against public officials whose negligence may have enabled the activities of the fraudulent organisations.
In addition, the Commission called for reforms aimed at strengthening verification procedures, improving internal controls and enhancing oversight across Ministries, Departments and Agencies (MDAs) to prevent similar incidents in the future.
Aliyu disclosed that investigations are still ongoing as the ICPC works to identify other individuals who may have collaborated with the suspect.
According to him, the Commission intends to build a strong criminal case before formally filing charges in court.
