ICPC Uncovers ₦600 Million Allegations Against Adeyemi

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) reported that Adeniyi Adeyemi, the Director-General of the purported Presidential Foreign Investment Promotion Council (PFIPC), allegedly sourced ₦600 million from private individuals and companies. Adeyemi claimed to have secured ₦400 million from Divine Dopacy Nigeria Limited for personal expenses and office operations, while ₦200 million was obtained from Sparrow Nigeria Limited to fund the World Investment Summit.

The ICPC's interim investigation report, submitted to President Bola Tinubu on August 6, indicates that Adeyemi misrepresented himself as a legitimate government official. Oyekunle Oluwagbemiga, owner of Divine Dopacy, stated that the payment was made under the impression that Adeyemi was a genuine government representative.

The conflicting accounts have prompted the ICPC to recommend further scrutiny of Adeyemi's transactions and accounts. The World Investment Summit, promoted by Adeyemi, aimed to attract significant foreign direct investment, although related websites have since been taken down.