The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr. Musa Adamu Aliyu (SAN), has disclosed that the appointment letter presented by Adeniyi Adeyemi Mathew as Director-General of the so-called Presidential Foreign Investment Promotion Council (PFIPC) was forged and did not originate from the Presidency.
Aliyu made the disclosure on Thursday during a press conference in Abuja, where he presented the findings of the commission’s interim investigation into the activities of Adeyemi and the fictitious PFIPC.
The ICPC chairman recalled that President Bola Tinubu had, on July 7, 2026, directed the commission to investigate the alleged fake agency within 30 days.
“Recall that the President on July 7, 2026, gave the ICPC 30 days to investigate the fake Presidential Foreign Investment Promotion Council, and today marks exactly 30 days,” Aliyu said.
He stated that the interim report had already been submitted to President Tinubu and that the President had been briefed on the findings.
According to him, the President acted appropriately by ordering the investigation in the interest of transparency and accountability and also directed the commission to brief Nigerians through the media.
Presenting the key findings of the interim report, Aliyu said the investigation established that Adeniyi Adeyemi Mathew was never appointed by the Federal Government or any authorised government institution.
“It has been established that Adeniyi Adeyemi Mathew was never appointed by the Federal Government or by any authority of government,” he said.
The ICPC further found that the Presidential Foreign Investment Promotion Council was never created by any law, executive order, or other valid government instrument.
“The PFIPC was never established by any law, executive order, or other valid instrument of government,” Aliyu added.
He revealed that the appointment letter and other official documents used by Adeyemi were completely forged.
“The appointment letter presented by Adeniyi Adeyemi Mathew was completely forged, alongside several other documents used to perpetrate the illegal activities of the fake agency,” he said.
Aliyu disclosed that the fake agency had unlawfully taken over the identity and operational instruments of the defunct Presidential Economic Advisory Council (PEAC), including office facilities and official materials.
According to him, the investigation uncovered widespread impersonation, false representation, and numerous illegal activities allegedly carried out by Adeyemi while presenting himself as Director-General of the non-existent agency.
The ICPC chairman said the interim report also identified weaknesses in verification procedures, inter-agency oversight, and certain government processes that were exploited by Adeyemi, adding that some level of negligence and possible connivance contributed to the operation of the fake agency.
However, Aliyu clarified that the investigation did not uncover any evidence that Federal Government funds were approved for or disbursed to the PFIPC or PEAC.
“Our investigation found that no fund of the Federal Government was approved or disbursed to the fake PFIPC/PEAC,” he said.
He also stated that no weaknesses were found in the systems of the State House or the Central Bank of Nigeria, noting that the procedures of both institutions were found to be intact and above board.
Aliyu emphasised that the forged appointment letter did not originate from the Presidency.
“The fake appointment letter of Adeniyi Adeyemi Mathew did not originate from the Presidency,” he declared.
The ICPC chairman further disclosed that Adeyemi allegedly created two additional fictitious government agencies during the course of his activities.
The agencies were identified as the FCT Investment Promotion Agency (FIFA) and the Foreign Investment Promotion Agency and Public Private Partnership (FIFA-PPP).
Aliyu said Adeyemi allegedly forged legislative documents styled as enabling Acts to support the creation of the fake agencies and used those forged instruments to facilitate the opening of bank accounts.
The commission said investigations are continuing into all activities linked to the fake agencies, including their bank accounts and those of Adeyemi and his associates.
As part of its interim recommendations, the ICPC advised that Adeyemi be fully prosecuted for the alleged offences.
The commission also recommended administrative sanctions against public officers whose acts of omission, negligence, or misconduct allegedly facilitated the illegal operations of the PFIPC and PEAC.
In addition, the ICPC said it had proposed a series of institutional reforms aimed at strengthening verification systems, improving inter-agency coordination, and preventing similar fraudulent schemes in the future.
Aliyu stressed that the investigation remains ongoing and that further findings may emerge as the commission continues to scrutinise financial records, documents, and the roles of collaborators.
“There is an ongoing investigation into all activities, bank accounts of PFIPC, Adeniyi Adeyemi Mathew, and his collaborators,” he said.
The ICPC chairman assured Nigerians that the commission would pursue the matter to its logical conclusion and ensure that anyone found culpable is held accountable in accordance with the law.
The fake PFIPC scandal had generated public concern after reports emerged that Adeyemi had operated for months while claiming to head a presidential investment agency, allegedly interacting with public officials and private entities under false pretences.
The latest findings by the ICPC have now formally confirmed that the agency was fictitious and that the appointment documents used by its purported Director-General were forged.
