ICPC Recommends Prosecution of Adeyemi for Fraudulent Agency

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) submitted an interim report to President Bola Tinubu regarding its investigation into the alleged fictitious Presidential Foreign Investment Promotion Council (PFIPC). ICPC Chairman Musa Aliyu disclosed this after a meeting with Tinubu at the Presidential Villa in Abuja.

The report indicated that the PFIPC was never legally established and that Adeyemi Matthew presented forged documents to support his claims of legitimacy. The investigation also uncovered two additional fictitious agencies allegedly created by Adeyemi, which he used to conduct unauthorized activities.

No federal funds were disbursed to the fake agency, and no security breaches were found. However, the investigation revealed institutional weaknesses in several Ministries, Departments, and Agencies (MDAs) that allowed Adeyemi to operate without detection.

The ICPC recommended Adeyemi's prosecution, administrative sanctions against negligent public officers, and institutional reforms to strengthen internal controls. The report is interim, with ongoing investigations to uncover further evidence.