Anti-graft agency says PFIPC never existed in law, identifies impersonation and systemic lapses exploited by suspect

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has cleared the Chief of Staff to the President, Femi Gbajabiamila, of any wrongdoing in the controversy surrounding the purported Presidential Foreign Investment Promotion Council (PFIPC).

ICPC Chairman, Dr Musa Adamu Aliyu (SAN), disclosed this on Wednesday in Abuja while presenting the Commission’s interim report, exactly 30 days after President Bola Ahmed Tinubu ordered an investigation into the activities of the alleged council.

Aliyu said he had formally submitted the interim findings to the President and subsequently briefed him on the outcome, noting that the directive to investigate and publicly disclose the findings reflected the administration’s commitment to transparency and accountability.

“I have just submitted the interim report and briefed Mr President accordingly. 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,” Aliyu said.

According to the ICPC, investigations revealed that the individual at the centre of the controversy, Adeniyi Adeyemi Mathew, was never appointed by the Federal Government or any recognised government institution. The Commission also confirmed that the so-called Presidential Foreign Investment Promotion Council—sometimes referred to as the Presidential Foreign Intervention Promotion Council—was never established by any law, executive order, or legitimate government instrument.

Aliyu stated that documents presented by the suspect, including his purported appointment letter, were entirely forged and used to lend credibility to the illegal operation.

“The appointment letter presented by Mr Adeniyi Adeyemi Mathew was completely forged, alongside similar documents used to perpetrate the illegal activities of the fake agency,” he said.

Further findings showed that the fake council unlawfully adopted the identity, office structure and operational framework of the defunct Presidential Economic Advisory Council (PEAC). The suspect allegedly engaged in impersonation, false representation and other unlawful acts while presenting himself as Director-General of the non-existent body.

The ICPC also pointed to gaps in verification processes, inter-agency coordination and oversight mechanisms, which it said were exploited by the suspect. The Commission noted that these lapses involved “some level of negligence and connivance.”

However, the anti-corruption agency clarified that no such weaknesses were identified within the internal systems of the State House or the Central Bank of Nigeria, describing their procedures as “above board.”

Aliyu further stated that the investigation found no evidence that public funds were approved, released or disbursed to either the fake PFIPC or the former PEAC.

The Commission said further investigations are ongoing, with additional updates expected as efforts continue to unravel the full scope of the fraudulent scheme.