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ICPC recommends the prosecution of Adeniyi Adeyemi Matthew after concluding he forged presidential appointment documents and operated a non-existent Federal Government agency.
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Investigation uncovers two additional fictitious investment agencies allegedly created by the suspect, who also occupied a former presidential office to project official legitimacy.
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Anti-graft commission identifies serious institutional lapses across key MDAs that enabled the fake agency to operate undetected for an extended period.
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President Tinubu receives interim findings as criminal investigations continue to identify collaborators, while the House of Representatives separately probes the agency’s ₦1.3 billion budget allocation.
August 06, (THEWILL) — President Bola Tinubu has received the interim report of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) on the fake Presidential Foreign Investment Promotion Council (PFIPC), with the anti-graft agency recommending the immediate prosecution of its Director-General, Adeniyi Matthew Adeyemi, over alleged forgery, impersonation and the unlawful operation of a fictitious government institution.
The report, presented to the President on Thursday at the Presidential Villa, Abuja, concluded that Adeyemi was never appointed by the Federal Government and that the PFIPC, also referred to in some documents as the Presidential Foreign Intervention Promotion Council, was never established by any law, Executive Order or other valid government instrument.
Briefing State House correspondents after presenting the report, ICPC Chairman, Musa Adamu, SAN, said the commission had conclusively established that the appointment letter and other official documents used by the suspect were forged and did not originate from the Presidency.
“The appointment letter presented by the suspect, along with other supporting documents, was completely forged and did not originate from the Presidency”, Adamu said.
The ICPC chairman disclosed that investigators also uncovered two additional fictitious agencies allegedly created by Adeyemi through forged legislative instruments. They are the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency/Public-Private Partnership, which he allegedly used to open bank accounts and conduct unauthorised activities while presenting himself as a government official.
According to the commission, Adeyemi also unlawfully occupied the office previously used by the defunct Presidential Economic Advisory Council after gaining unauthorised access to the facility. He allegedly used the office to convince visitors, government officials and foreign diplomats that the fake agency was an authentic arm of the Federal Government.
Despite the elaborate scheme, Adamu said investigators found no evidence that Federal Government funds were approved or released to the fictitious agency.
He also clarified that the investigation did not uncover any security breach within either the Presidency or the Central Bank of Nigeria.
However, the ICPC identified significant weaknesses in verification procedures, inter-agency coordination and institutional oversight that allowed the suspect’s activities to continue unchecked for an extended period.
READ ALSO:Â Fake Presidential Appointee Adeyemi to Face Trial – Presidency
According to the report, the lapses involved several Ministries, Departments and Agencies, including the Office of the Secretary to the Government of the Federation, the Office of the Head of the Civil Service of the Federation, the Office of the Accountant-General of the Federation, the Budget Office of the Federation and the National Information Technology Development Agency (NITDA).
Adamu said negligence and failures by some public officials contributed to the operation of the fake agency.
Based on its findings, the commission recommended the immediate prosecution of Adeyemi Matthew, administrative sanctions against public officers whose actions or omissions facilitated the operation of the fictitious agency, and comprehensive institutional reforms to strengthen internal controls and verification mechanisms across affected MDAs.
The ICPC chairman noted that the report submitted to President Tinubu was only an interim report, explaining that investigations remain ongoing to uncover additional evidence and identify any collaborators before expanded criminal charges are filed.
READ ALSO: Forged State House Letter Gave Adeyemi’s ‘Presidential Council’ Government Recognition, Reps Hear
Background
The PFIPC controversy erupted after Adeyemi allegedly presented himself as Director-General of a presidential investment agency using forged appointment documents, triggering widespread public concern and allegations involving senior government officials.
In response, President Tinubu on July 7, 2026, directed the ICPC to conduct a comprehensive 30-day investigation into the matter.
As part of the probe, the President’s Chief of Staff, Femi Gbajabiamila, voluntarily appeared before the ICPC on July 20 to provide information after his name surfaced during the controversy. He has since filed a ₦15 billion defamation suit against Adeyemi over allegations made against him.
Adeyemi is already facing an eight-count criminal charge before the Federal High Court in Abuja bordering on conspiracy, forgery and impersonation. The charges were filed by the Nigeria Police in November 2025.
He was rearrested in July after allegedly breaching his bail conditions and failing to appear for arraignment. He is expected to return to court later this month.
Felix Ifijeh is a journalist with years of professional reporting experience. Known for his keen news sense, compelling storytelling and commitment to accurate, impactful reporting, he has built a reputation for turning leads into clear, engaging, and well-structured reports that resonate with readers. His work reflects deep newsroom experience and a commitment to accurate, impactful journalism.
