The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has established that the appointment letter used by Adeniyi Adeyemi Mathew, who allegedly posed as Director-General of the fictitious Presidential Foreign Investment Promotion Council (PFIPC), was forged and did not originate from the Presidency.
The ICPC Chairman, Dr Musa Adamu Aliyu, SAN, disclosed this on Thursday in Abuja while briefing journalists on the outcome of the commission’s investigation into the fake agency.
Aliyu said the investigation was conducted following President Bola Tinubu’s directive on July 7, 2026, giving the commission 30 days to probe the activities of the fictitious PFIPC.
“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,” he said.
“I have just submitted the interim report and briefed Mr President accordingly.”
The ICPC chairman said the President directed the briefing in the interest of transparency and accountability.
“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,” Aliyu said.
According to the interim report, Adeyemi was never appointed by the Federal Government or any government authority.
“It has been established that Adeniyi Adeyemi Mathew was never appointed by the Federal Government or any authority of the government,” the ICPC chairman said.
He also disclosed that the PFIPC had no legal basis for its existence.
“The PFIPC was never established by any law or executive order or other valid instrument of government,” he said.
Aliyu said the appointment letter presented by Adeyemi was completely forged, alongside other documents allegedly used to operate the fictitious agency.
“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.
The ICPC also found that the fictitious agency allegedly appropriated offices and operational instruments belonging to 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,” Aliyu said.
He said the investigation uncovered “false projection, false representation, widespread impersonation and a wide range of illegal activities” allegedly perpetrated by Adeyemi.
The chairman, however, said the investigation found weaknesses in government verification and inter-agency oversight processes which were exploited to sustain the activities.
“Our interim report found that weaknesses in verification, interagency oversight and government processes were exploited by Adeyemi Adeniyi with some level of negligence and connivance,” he said.
Aliyu disclosed that no Federal Government funds were approved or released to the fictitious PFIPC or PEAC.
“Our investigation found that no fund of the Federal Government was approved or disbursed to the fake PFIPC/PEAC,” he said.
He also cleared the Presidency and the Central Bank of Nigeria (CBN) of any systemic failure in relation to the case.
“No weaknesses were found in the systems of the State House or CBN and the processes are above board,” Aliyu said.
The ICPC chairman reiterated that the forged appointment letter had no connection with the Presidency.
“The fake appointment letter of Adeniyi Adeyemi Mathew did not originate from the Presidency,” he said.
The investigation also uncovered two additional fictitious agencies allegedly created by Adeyemi.
Aliyu identified them as the FCT Investment Promotion Agency (FIFA) and the Foreign Investment Promotion Agency and Public Private Partnership (FIFA-PPP).
He said Adeyemi allegedly forged legislative instruments presented as enabling Acts to facilitate the creation of the fictitious agencies and used the documents to support the opening of bank accounts.
The ICPC recommended that Adeyemi be fully prosecuted and that administrative sanctions be imposed on public officers whose acts of omission or negligence facilitated the operations of the fictitious PFIPC and PEAC.
The commission also recommended institutional reforms to address weaknesses identified during the investigation.
Aliyu said the investigation was not yet concluded, noting that the ICPC was still examining the activities and bank accounts linked to PFIPC, Adeyemi and his alleged collaborators.
“There is an ongoing investigation into all activities, bank accounts of PFIPC, Adeniyi Adeyemi and his collaborators,” he said.