The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says its investigation into the controversial Presidential Foreign Investment Promotion Council (PFIPC) has uncovered two more fake government agencies allegedly created by its self-styled director-general, Adeniyi Adeyemi
According to the commission, Adeyemi allegedly established the FCT Investment Promotion Agency (FIPA) and the Foreign Investment Promotion Agency/Public-Private Partnership (FIPA-PPP) as part of a wider fraudulent operation.
ICPC Chairman Musa Aliyu disclosed this on Thursday after presenting an interim report of the investigation to President Bola Tinubu at the Presidential Villa in Abuja.
The probe was launched after Tinubu directed the commission on July 7 to investigate allegations surrounding the PFIPC within 30 days.
Aliyu said investigators found that Adeyemi was never appointed by the Federal Government and that the Presidential Foreign Investment Promotion Council had no legal backing.
“The ICPC also discovered that Adeniyi Adeyemi created two additional fictitious government agencies apart from the one already known in the public domain,” he said.
“To facilitate the creation of these agencies, he used fake legislative instruments styled as enabling Acts and relied on them to open bank accounts.”
The ICPC chairman revealed that Adeyemi allegedly opened two commercial bank accounts in the names of the fake agencies to facilitate their activities.
He added that the commission has recommended Adeyemi’s prosecution, disciplinary action against public officials whose negligence allegedly allowed the fraud to occur, and reforms to strengthen internal controls across government ministries, departments and agencies.
Aliyu said investigations are still ongoing to identify other individuals who may have been involved before formal charges are filed in court.
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