ICPC Recommends Prosecution of Alleged Fake PFIPC DG, Says Appointment Documents Were Forged
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has recommended the prosecution of Adeniyi Adeyemi, the man accused of presenting himself as the Director-General of the controversial Presidential Foreign Investment Promotion Council (PFIPC), after concluding that the agency was never legally established by the Federal Government.
The recommendation was contained in an interim report submitted to President Bola Tinubu, exactly 30 days after the President directed the anti-corruption agency to investigate the circumstances surrounding the alleged fake government body.
Speaking after a meeting with the President at the Presidential Villa in Abuja, ICPC Chairman Musa Aliyu said investigators found that Adeyemi was never appointed by the Federal Government and that the documents used to portray the PFIPC as a legitimate public institution—including an appointment letter, government gazette and other official records—were forged.
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According to the commission, its investigation uncovered serious weaknesses in government verification procedures and inter-agency oversight, creating opportunities that were allegedly exploited to give credibility to the non-existent agency.
Aliyu explained that although the alleged fake agency appeared to operate with an official identity, investigators found no evidence that the Federal Government approved or released any public funds to either the PFIPC or its associated entity, the Presidential Economic Advisory Council (PEAC).
The investigation also revealed that Adeyemi allegedly created two additional organisations—the FCT Investment Promotion Agency (FIFA) and the Foreign Investment Promotion Agency and Public Private Partnership (PIPA-PPP). The ICPC said these entities were supported with forged legislative instruments that were presented as enabling laws and were reportedly used to facilitate the opening of bank accounts.
Based on its findings, the anti-corruption agency has advised that Adeyemi be prosecuted over the alleged offences. It also recommended disciplinary action against public officials whose negligence may have allowed the operation of the fake agency to continue unchecked.
Beyond individual accountability, the commission called for broader institutional reforms across Ministries, Departments and Agencies (MDAs), saying stronger internal controls and verification mechanisms are necessary to prevent similar incidents in the future.
Aliyu stressed that the report submitted to President Tinubu is only an interim one, noting that investigations remain ongoing. The commission says it is working to identify additional collaborators, gather more evidence and build what it describes as a strong criminal case capable of withstanding judicial scrutiny.
ICPC chairman Dr. Musa Adamu Aliyu, SAN with President Bola Tinubu
The PFIPC controversy first came to public attention after the Presidency publicly disowned the council, declaring that it was not a recognised Federal Government agency despite its reported appearance in the 2026 Appropriation Act with a proposed budget allocation of ₦1.3 billion.
Since then, the Federal Government has filed criminal charges against Adeyemi, including allegations of forgery, impersonation and fraudulent misrepresentation. The House of Representatives is also conducting a separate investigation into how the alleged fake agency was able to operate within government circles.
As investigations continue, the outcome of the case is expected to influence future reforms aimed at strengthening transparency, improving institutional oversight and preventing the creation or recognition of fraudulent government entities.
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