Fake PFIPC DG: Adeyemi’s Appointment Letter Did Not Come From Presidency — ICPC
By Nafiu Muhammad Lema
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has established that Adeniyi Adeyemi Mathew, the self-styled Director-General of the fictitious Presidential Foreign Investment Promotion Council (PFIPC), was never appointed by the Federal Government or any government authority.
ICPC Chairman, Dr. Musa Adamu Aliyu, SAN, disclosed this on Thursday in Abuja while presenting the findings of the Commission’s 30-day interim investigation into the activities of the fake agency.
The investigation followed President Bola Ahmed Tinubu’s directive of July 7, 2026, giving the ICPC 30 days to probe the alleged fake PFIPC and its activities.
Aliyu said he had submitted the interim report to President Tinubu and briefed him on the findings, adding that the President subsequently directed him to address the media in the interest of transparency and accountability.
According to the ICPC chairman, the investigation established that Adeyemi was never appointed by the Federal Government or any other government authority.
He further disclosed that the PFIPC was never established by any law, executive order or other valid government instrument.
“The appointment letter presented by Adeniyi Adeyemi Mathew was completely forged alongside similar documents used to perpetuate the illegal activities of the fake agency,” Aliyu said.
The ICPC also found that the fictitious agency had allegedly appropriated the offices and operational instruments of the former Presidential Economic Advisory Council (PEAC).
The chairman said the fake DG engaged in false representation, widespread impersonation and other illegal activities, while weaknesses in verification, inter-agency oversight and government processes were exploited, with some level of negligence and connivance.
However, the Commission said its investigation found that no Federal Government funds were approved or disbursed to the fake PFIPC/PEAC.
Aliyu also stated that the investigation found no weaknesses in the systems of the State House or the Central Bank of Nigeria (CBN), stressing that the processes in both institutions were above board.
He reiterated that the forged appointment letter used by Adeyemi did not originate from the Presidency.
The ICPC further revealed that Adeyemi allegedly created two additional fictitious government agencies: the FCT Investment Promotion Agency (FIFA) and the Foreign Investment Promotion Agency and Public Private Partnership (FIFA-PPP).
According to the Commission, 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 illegal operations linked to the PFIPC/PEAC.
The Commission also recommended institutional reforms to strengthen verification, inter-agency oversight and government processes.
Aliyu said the investigation was still ongoing, particularly into the activities and bank accounts associated with the PFIPC, Adeyemi and his alleged collaborators.
