*Photo: Adeniyi Adeyemi Mathew*
The Independent Corrupt Practices Commission (ICPC) has made a startling revelation in its probe of the activities of Adeniyi Adeyemi Matthew, the ‘Director-General’ of the fraudulent Presidential Foreign Investment Promotion Council (PFIPC).
ICPC Chairman, Dr. Musa Adamu Aliyu, SAN on Thursday said “The ICPC discovered Adeyemi Adeniyi created two additional fictitious government agencies namely:-
(a) FCT Investment Promotion Agency (FIFA)
(b) Foreign Investment Promotion Agency and Public Private Partnership (FIFA-PPP)”
Aliyu spoke at a press conference in Abuja shortly after submitting the interim findings on the fake “agency”
by the ICPC to President Bola Tinubu.
The President on 7th July, 2026 gave ICPC 30 days to conduct investigation into the “agency” and Thursday was the deadline given.
Below is the brief summary of the press conference by the ICPC Chairman , which also exonerated Hon Femi Gbajabiamila, the Chief of Staff to the President of allegedly issuing an appointment letter to Adeniyi Adeyemi Mathew:
“Recall the President on 7th July, 2026 gave ICPC 30 days to investigate into the fake Presidential Foreign Investment Promotion Council and today is exactly 30 days. I have just submitted the interim report and briefed Mr. President accordingly.
2. The president took the right decision in the spirit of transparency and accountability and directed me to address the media for the benefit of Nigerians.
3. Flowing from the interim report
a. It has been established that Adeniyi Adeyemi Mathew was never appointed by the Federal Government or any authority of the government.
b. The PFIPC was never established by any law or executive order or other valid instrument of government.
c. The appointment letter presented by Adeniyi Adeyemi Mathew was completely forged alongside similar documents used to perpetuate the illegal activities of the fake agency.
d. The PFIPC cannibalized the former Presidential Economic Advisory Council (PEAC) and illegally appropriated offices and instruments of operation.
e. False projection, false representation, wide spread impersonation and a wide range of illegal activities were perpetrated by the fake DG of the fake agency Adeniyi Adeyemi.
f. The interim report found that weaknesses in verification, interagency oversight and government processes was exploited by Adeyemi Adeniyi with some level of negligence and connivance.
g. Our investigation found that no fund of the Federal Government was approved or disbursed to the fake PFIPC/PEAC
4. That no weaknesses were found in the systems of the State House or CBN and the processes are above board.
5. The fake appointment letter of Adeniyi Adeyemi Mathew did not originate from the presidency;
6. The ICPC discovered Adeyemi Adeniyi created two additional fictitious government agencies namely:-
(a) FCT Investment Promotion Agency (FIFA)
(b) Foreign Investment Promotion Agency and Public Private Partnership (FIFA-PPP)
To facilitate their creation he forged legislative instrument styled as Enabling Acts and used them to support the opening of Bank Accounts.
Some of the recommendations
1. He should be fully prosecuted
2. Administrative sanctions be imposed on public officers whose acts of omission and negligence facilitated the illegal operations of PFIPC/PEAC.
3. Institutional reforms have been recommended by the ICPC.
There is an ongoing investigation into all activities, bank accounts of PFIPC, Adeniyi Adeyemi Adeyemi and his collaborators. “