The Independent Corrupt Practices and Other Related Offences Commission has handed President Bola Tinubu an interim report on its investigation into the phantom Presidential Foreign Investment Promotion Council, revealing that the scheme was far bigger than first suspected.

ICPC Chairman Musa Aliyu briefed the President at the Presidential Villa in Abuja on Thursday, exactly 30 days after Tinubu ordered the probe. The commission has recommended prosecuting Adeniyi Adeyemi, the self-styled Director-General behind the outfit, on charges of forgery and impersonation.

According to Aliyu, investigators confirmed that Adeyemi was never appointed by the Federal Government and that PFIPC had no legal basis whatsoever, not through legislation, executive order, or any valid instrument. The appointment letter, gazette, and other supporting documents he presented were all forged.

Perhaps most striking is how the operation grew: the commission found that Adeyemi had unlawfully taken over the identity and office space of the former Presidential Economic Advisory Council, allegedly breaking into the premises to operate from there. Investigators also traced two additional fictitious bodies to Adeyemi, the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency and Public Private Partnership, both built on forged legislative instruments and used to open bank accounts.

Aliyu was careful to clarify one point: no federal funds were ever approved or released to PFIPC or its operators, and nothing ties the fake appointment letter back to the Presidency itself.

Beyond prosecuting Adeyemi, the commission has called for administrative sanctions against public officials whose negligence allowed the scheme to operate, along with broader reforms to tighten verification and oversight across government agencies. Aliyu said the investigation continues, with more collaborators expected to be identified before formal charges are filed.

#IzonDaily

#ICPC #PFIPC #Tinubu #Corruption #Nigeria #FakeAgency #AbujaNews #GovernmentAccountability #Adeyemi

#NigeriaPolitics