ICPC Declares Presidential Foreign Investment Council Fake

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has determined that the Presidential Foreign Investment Promotion Council (PFIPC), promoted by Prince Adeniyi Adeyemi, is a fraudulent entity. ICPC Chairman Dr. Musa Adamu Aliyu disclosed this information to newsmen on Thursday after presenting an interim report to President Bola Tinubu at the State House in Abuja.

President Tinubu had tasked the ICPC on July 7, 2026, to investigate allegations made by Adeyemi, who claimed he bribed Chief of Staff Hon. Femi Gbajabiamila with N400 million for his appointment. The ICPC's findings confirmed that Adeyemi was never appointed by the federal government, and the appointment letter he presented was forged.

Additionally, Adeyemi is currently in detention and is under investigation for creating two other fictitious agencies. The ICPC established that the PFIPC was never legally established by any governmental authority.