The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has recommended the prosecution of Adeniyi Adeyemi Matthew, the alleged mastermind behind the fake Presidential Foreign Investment Promotion Council (PFIPC), saying investigations revealed he forged presidential documents, created fictitious government agencies and unlawfully occupied a government office to perpetrate the fraud.
ICPC Chairman, Musa Aliyu, disclosed this on Thursday while briefing State House Correspondents after presenting an interim investigative report to President Bola Tinubu at the Presidential Villa, Abuja.
The briefing followed a 30-day investigation ordered by the President on July 7 into allegations surrounding the purported Presidential Foreign Investment Promotion Council.
Aliyu said investigators established that the Federal Government never appointed Matthew and that the so-called Presidential Foreign Investment Promotion Council had no legal existence.
“As you may recall, on the 7th of July, Mr. President directed the ICPC to conduct an investigation into the fake Presidential Foreign Investment Promotion Council and submit a report within 30 days. Today, exactly within the stipulated period, we have submitted an interim report based on our interactions with all stakeholders involved,” he said.
According to Aliyu, President Tinubu directed the commission to make its findings public in the interest of transparency and accountability.
“The President took the right decision in the spirit of transparency and accountability and directed the ICPC to address the media for the benefit of Nigerians so they will know what our investigation discovered.”
The ICPC chairman said the suspect’s purported appointment letter was entirely forged and did not originate from the Presidency.
“It has been established that Adeniyi Adeyemi Matthew was never appointed by the Federal Government or any authority whatsoever.
“The Presidential Foreign Investment Promotion Council, which sometimes they called the Presidential Foreign Intervention Promotion Council, was never established by any law, executive order or any valid instrument of government.
“The appointment letter presented by Adeniyi Adeyemi Matthew was completely forged alongside similar documents used to perpetuate the illegal activities of the fake agency.”
He added that a purported government gazette used to legitimise the agency was also fabricated.
“If you recall, there was a gazette which he used to support the fake agency. That gazette is an illegal document that never passed through the processes prescribed by law.”
Aliyu further revealed that the suspect allegedly broke into offices previously occupied by the defunct Presidential Economic Advisory Council (PEAC) and used the premises to create the impression that the fake organisation was an authentic government institution.
“Our investigation found that the office used by the fake agency was the office of the Presidential Economic Advisory Council. The office was broken into and access was gained illegally. That was how he was able to operate from there.”
According to the ICPC, Matthew also appropriated the identity and operational instruments of the former council to enhance the credibility of the fraudulent operation.
The commission disclosed that investigators uncovered two additional fictitious government agencies allegedly created by the suspect: the FCT Investment Promotion Agency (FIPA) and the Foreign Investment Promotion Agency/Public-Private Partnership (FIPA-PPP).
“The ICPC also discovered that Adeniyi Adeyemi created two additional fictitious government agencies apart from the one already known in the public domain.
“To facilitate the creation of these agencies, he used fake legislative instruments styled as enabling Acts and relied on them to open bank accounts.”
Aliyu said the suspect opened two accounts with a commercial bank to support the activities of the fake agencies.
Despite the elaborate scheme, the commission said it found no evidence that Federal Government funds were approved or disbursed to the fake organisation.
“Our investigation found that no funds of the Federal Government were approved or disbursed to the fake PFIPC.
“We also discovered no weaknesses in the systems of the State House or the Central Bank of Nigeria during our investigation.
“The fake appointment letter did not originate from the Presidency.”
While absolving the Presidency and the Central Bank of Nigeria of any wrongdoing, the ICPC identified institutional lapses in several Ministries, Departments and Agencies (MDAs), saying weaknesses in verification processes, inter-agency coordination and internal controls enabled the suspect’s activities.
“Our investigation found that some public officers failed to carry out due diligence and failed to comply with standard operating procedures in their ministries and departments. That gave him the opportunity to carry out these illegal acts.”
The agencies where weaknesses were identified include 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), among others.
Aliyu said the interim report recommended the immediate prosecution of Matthew, disciplinary action against public officials whose negligence facilitated the fraud, and broad institutional reforms.
“Our recommendations are that Mr. Adeniyi Adeyemi should be prosecuted.
“Secondly, administrative sanctions should be imposed on public officers whose acts of omission and negligence facilitated the illegal operation of the fake agency.
“We also recommended institutional reforms to strengthen internal controls across MDAs to block this kind of illegal activity.”
He stressed that investigations remain ongoing to identify collaborators and build a stronger criminal case.
“This report is interim. We have continued with investigations into the activities of Adeniyi Adeyemi Matthew and his collaborators so that we can unravel more facts and file criminal charges that will stand the test of time before a court of competent jurisdiction.”
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