The Independent Corrupt Practices and Other Related Offences Commission, ICPC, has said the fake appointment letter presented by Adeniyi Adeyemi Mathew did not originate from the Presidency.
ICPC Chairman, Dr. Musa Adamu Aliyu, SAN, disclosed this on Wednesday in Abuja during a press conference to present the agency’s interim report on the probe of the alleged fake Presidential Foreign Investment Promotion Council, PFIPC.
Dr. Aliyu said President Bola Ahmed Tinubu directed the ICPC on July 7, 2026 to investigate the activities of the purported PFIPC within 30 days. He stated that the interim report has been submitted to the President.
“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,” he said.
According to the ICPC chairman, the investigation established the following:
1. No Appointment: Adeniyi Adeyemi Mathew was never appointed by the Federal Government or any authority of government.
2. No Legal Backing: The PFIPC was never established by any law, executive order, or other valid instrument of government.
3. Forgery: The appointment letter presented by Adeyemi and other documents used to perpetuate the activities of the fake agency were forged.
4. Impersonation: The PFIPC allegedly cannibalized the former Presidential Economic Advisory Council, PEAC, and illegally appropriated offices and instruments of operation.
5. Illegal Activities: The report cited false projection, false representation, widespread impersonation, and a range of illegal activities allegedly perpetrated by Adeyemi as the fake DG of the fake agency.
6. Process Weaknesses: The interim report found that weaknesses in verification, inter-agency oversight, and government processes were exploited by Adeyemi, with some level of negligence and connivance.
7. No Federal Funds: The investigation found that no funds of the Federal Government were approved or disbursed to the fake PFIPC/PEAC.
8. Systems Intact: No weaknesses were found in the systems of the State House or the CBN, and their processes were described as “above board.”
Dr. Aliyu further stated: “The fake appointment letter of Adeniyi Adeyemi Mathew did not originate from the presidency.”
The ICPC said Adeyemi also allegedly created two additional fictitious government agencies:
– FCT Investment Promotion Agency, FIFA
– Foreign Investment Promotion Agency and Public Private Partnership, FIFA-PPP
To facilitate their creation, he allegedly forged legislative instruments styled as Enabling Acts and used them to support the opening of bank accounts.
The ICPC recommended that:
1. Adeyemi should be fully prosecuted.
2. Administrative sanctions should be imposed on public officers whose acts of omission and negligence facilitated the illegal operations of PFIPC/PEAC.
3. Institutional reforms should be carried out.
The Chairman added that investigation into all activities and bank accounts linked to PFIPC, Adeniyi Adeyemi, and his collaborators is ongoing.
