The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has declared that the appointment letter presented by Adeniyi Adeyemi Mathew, who allegedly posed as the Director-General of the non-existent Presidential Foreign Investment Promotion Council (PFIPC), was forged and did not originate from the Presidency.
ICPC Chairman, Dr. Musa Adamu Aliyu (SAN), disclosed this on Thursday while briefing journalists in Abuja on the outcome of the commission’s investigation, exactly 30 days after President Bola Tinubu directed the anti-graft agency to probe the activities of the purported agency.
Aliyu said he had submitted an interim report to President Tinubu and briefed him on the findings, noting that the President subsequently directed him to make the outcome public in the interest of transparency and accountability.
“Recall the President on 7th July, 2026 gave ICPC 30 days to investigate into the fake Presidential Foreign Investment Promotion Council and today is exactly 30 days. I have just submitted the interim report and briefed Mr. President accordingly,” he said.
“The president took the right decision in the spirit of transparency and accountability and directed me to address the media for the benefit of Nigerians.”
Presenting the commission’s findings, the ICPC boss said investigations established that Adeyemi was never appointed by the Federal Government or any recognised authority and that the PFIPC had no legal existence.
“It has been established that Adeniyi Adeyemi Mathew was never appointed by the Federal Government or any authority of the government,” Aliyu stated.
He added, “The PFIPC was never established by any law or executive order or other valid instrument of government.”
According to him, the documents used by Adeyemi to present himself as Director-General were forged.
“The appointment letter presented by Adeniyi Adeyemi Mathew was completely forged alongside similar documents used to perpetuate the illegal activities of the fake agency,” he said.
Aliyu further revealed that the fake organisation illegally appropriated the identity and operational structure of the former Presidential Economic Advisory Council (PEAC).
“The PFIPC cannibalized the former Presidential Economic Advisory Council (PEAC) and illegally appropriated offices and instruments of operation,” he said.
The ICPC chairman accused Adeyemi of engaging in widespread impersonation and fraudulent activities through the fictitious organisation.
“False projection, false representation, widespread impersonation and a wide range of illegal activities were perpetrated by the fake DG of the fake agency Adeniyi Adeyemi,” he disclosed.
He said the investigation also uncovered lapses in verification and oversight processes that enabled the scheme to thrive.
“The interim report found that weaknesses in verification, interagency oversight and government processes were exploited by Adeyemi Adeniyi with some level of negligence and connivance,” Aliyu stated.
However, he stressed that investigators found no evidence that public funds were released to the fake agency.
“Our investigation found that no fund of the Federal Government was approved or disbursed to the fake PFIPC/PEAC,” he said.
Aliyu also absolved the Presidency and the Central Bank of Nigeria of any institutional failure, insisting their systems remained intact.
“No weaknesses were found in the systems of the State House or CBN and the processes are above board,” he said.
He added emphatically: “The fake appointment letter of Adeniyi Adeyemi Mathew did not originate from the Presidency.”
The ICPC further disclosed that Adeyemi allegedly created two additional fictitious government agencies — the FCT Investment Promotion Agency (FIFA) and the Foreign Investment Promotion Agency and Public Private Partnership (FIFA-PPP).
According to Aliyu, the suspect forged purported enabling Acts for the agencies and used the fake documents to facilitate the opening of bank accounts.
As part of its recommendations, the commission called for Adeyemi’s prosecution, disciplinary action against public officers whose negligence allegedly enabled the operation of the fake agency, and institutional reforms to strengthen verification and oversight mechanisms.
“He should be fully prosecuted,” Aliyu recommended.
The ICPC chairman added that investigations into the activities, bank accounts, collaborators and financial dealings linked to Adeyemi and the fake agencies were still ongoing.
