The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered two additional fake government agencies allegedly operated by the self-proclaimed Director-General of the Presidential Foreign Intervention Promotion Council (PFIPC), Adeniyi Matthew Adeyemi.

ICPC Chairman, Dr. Musa Adamu Aliyu, SAN, disclosed this while briefing State House correspondents after submitting the commission’s interim report on the existence and operations of the fake agency to President Bola Tinubu at the Presidential Villa in Abuja.

According to Aliyu, investigations revealed that Adeyemi was never appointed by the Federal Government and that the Presidential Foreign Investment Promotion Council, the body from which PFIPC emerged, was never created by any law or executive order.

The interim report further established that the appointment letter presented by Adeyemi was forged and that the fake agency unlawfully occupied offices and appropriated official instruments belonging to the former Presidential Economic Advisory Council (PEAC).

Aliyu said the fraudulent organisation operated from the former PEAC office, engaging in false representation, widespread impersonation and other illegal activities while exploiting gaps in verification processes and inter-agency oversight.

The ICPC chairman also revealed that investigators uncovered two more fictitious agencies allegedly established by Adeyemi — the **FCT Investment Promotion Agency (PIFA)** and the **Foreign Investment Promotion Agency (PIPA).**

“These agencies were created using forged legislative instruments and were used to open bank accounts for illegal activities,” Aliyu said.

He explained that Adeyemi later changed the name of the fake organisation from the **Foreign Investment Promotion Council** to the **Foreign Intervention Promotion Council**, while attempting to broaden its mandate to include revenue generation.

Aliyu, however, clarified that the investigation found no evidence that public funds were approved or disbursed to the fake PFIPC or PEAC and that there were no security lapses within the State House or the Central Bank of Nigeria (CBN) systems.

The committee, which was given 30 days to investigate the circumstances surrounding the fake agency, recommended the prosecution of Adeyemi, administrative sanctions against public officers who allegedly facilitated the illegal operations, and institutional reforms to strengthen internal controls and verification mechanisms across government agencies.

According to the report, the public officials identified as collaborators are drawn from the Office of the Secretary to the Government of the Federation (SGF), the Office of the Head of the Civil Service of the Federation, the Office of the Accountant-General of the Federation, the Budget Office, and the National Information Technology Development Agency (NITDA).

“The report is interim, and investigations are ongoing to uncover additional evidence that will support criminal charges against Adeyemi and his collaborators,” Aliyu stated.

He added that President Bola Tinubu has been briefed on the findings and has reaffirmed his administration’s commitment to transparency, accountability and ensuring that all those involved are brought to justice.