The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has recommended the prosecution of Adeniyi Adeyemi, the alleged director-general of the controversial Presidential Foreign Investment Promotion Council (PFIPC).
Speaking on Thursday after presenting an interim investigation report to President Bola Tinubu at the Presidential Villa, Abuja, ICPC Chairman Musa Aliyu said the PFIPC had no legal foundation and never existed as a recognised government agency.
The briefing followed the 30-day investigation ordered by the President on July 7 into allegations surrounding the purported presidential council.
The commission also cleared the Presidency and the Central Bank of Nigeria (CBN) of any wrongdoing but blamed lapses within several ministries, departments and agencies (MDAs).
‘PFIPC had no legal backing’
Aliyu said investigations confirmed that Adeniyi Adeyemi was never appointed by the Federal Government and that the PFIPC had no legal existence.
“As you may recall, on the 7th of July, Mr. President directed the ICPC to conduct an investigation into the fake Presidential Foreign Investment Promotion Council and submit a report within 30 days,” he said.
“Today, exactly within the stipulated period, we have submitted an interim report based on our interactions with all stakeholders involved.”
According to Aliyu, President Tinubu directed the commission to make its findings public in the interest of transparency and accountability.
He said investigators established that the appointment letter presented by Adeyemi was forged.
“It has been established that Adeniyi Adeyemi Matthew was never appointed by the Federal Government or any authority whatsoever,” he said.
“The Presidential Foreign Investment Promotion Council, which sometimes they called the Presidential Foreign Intervention Promotion Council, was never established by any law, executive order or any valid instrument of government.
“The appointment letter presented by Adeniyi Adeyemi Matthew was completely forged alongside similar documents used to perpetuate the illegal activities of the fake agency.”
Aliyu also disclosed that a government gazette used to legitimise the council was fabricated.
“If you recall, there was a gazette which he used to support the fake agency. That gazette is an illegal document that never passed through the processes prescribed by law,” he said.
The ICPC chairman further revealed that the office occupied by the fake agency originally belonged to the Presidential Economic Advisory Council and was illegally accessed.
“Our investigation found that the office used by the fake agency was the office of the Presidential Economic Advisory Council. The office was broken into and access was gained illegally. That was how he was able to operate from there.”
He added that investigators uncovered two other fictitious government agencies allegedly created by Adeyemi — the FCT Investment Promotion Agency (FIPA) and the Foreign Investment Promotion Agency/Public-Private Partnership (FIPA-PPP).
According to him, forged legislative documents were used to create the agencies and open bank accounts.
Despite the scheme, Aliyu said there was no evidence that any Federal Government funds were approved or released to the fake council.
“Our investigation found that no funds of the federal government were approved or disbursed to the fake PFIPC,” he said.
“We also discovered no weaknesses in the systems of the State House or the Central Bank of Nigeria during our investigation. The fake appointment letter did not originate from the presidency.
“Our investigation found that some public officers failed to carry out due diligence and failed to comply with standard operating procedures in their ministries and departments. That gave him the opportunity to carry out these illegal acts.”
He identified the affected institutions as the Office of the Secretary to the Government of the Federation (OSGF), the Office of the Head of the Civil Service of the Federation, the Office of the Accountant-General of the Federation, the Budget Office, the National Information Technology Development Agency (NITDA), among others.
ICPC recommends prosecution, sanctions
Aliyu said the commission recommended the prosecution of Adeyemi, disciplinary measures against public officials whose negligence enabled the operation of the fake agency, and reforms to strengthen internal controls across MDAs.
“Our recommendations are that Mr. Adeniyi Adeyemi should be prosecuted,” he said.
“Secondly, administrative sanctions should be imposed on public officers whose acts of omission and negligence facilitated the illegal operation of the fake agency.
“We also recommended institutional reforms to strengthen internal controls across MDAs to block this kind of illegal activity.”
He noted that the report submitted to the President was an interim one, adding that investigations were ongoing to identify other collaborators and build a stronger case for prosecution.