…recommends prosecution of promoter

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has recommended the prosecution of the promoter of the fictitious Presidential Foreign Investment Promotion Council (PFIPC), Mr. Adeniyi Adeyemi Matthew, after investigations established that neither he nor the organisation had any legal backing from the Federal Government.

The commission also uncovered two additional fictitious government agencies allegedly created by the suspect and identified institutional lapses across several Ministries, Departments and Agencies (MDAs) that enabled the fraud.

ICPC Chairman, Dr Musa Adamu Aliyu, disclosed this on Thursday after presenting an interim report of the investigation to President Bola Tinubu at the Presidential Villa, Abuja, and later briefing journalists.

Aliyu said the report was submitted exactly 30 days after President Tinubu directed the anti-corruption agency to investigate the activities of the fake organisation.

According to him, investigations established that Adeniyi Adeyemi Matthew was never appointed by the Federal Government or any authorised government institution and that the so-called Presidential Foreign Investment Promotion Council, also referred to as the Presidential Foreign Intervention Promotion Council, was never established by any law, executive order or other valid instrument of government.

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

He added that the gazette relied upon by the suspect to legitimise the organisation was equally forged and never passed through the legal processes required for government publications.

The ICPC chairman said the suspect unlawfully appropriated the identity and office of the defunct Presidential Economic Advisory Council (PEAC), allegedly breaking into the office and using it as the operational base of the fictitious organisation.

He said investigators uncovered widespread impersonation, false representation and other illegal activities carried out in the name of the fake agency.

Aliyu further disclosed that the probe uncovered two additional fictitious agencies allegedly floated by the suspect: the Foreign Capital and Wealth Investment Promotion Agency (FCWIPA) and the Foreign Investment Promotion Agency/Public-Private Partnership (FIPA-PPP).

According to him, forged legislative instruments styled as enabling Acts were used to create the agencies and facilitate the opening of commercial bank accounts through which their activities were conducted.

He explained that the suspect later altered the name of the original fake organisation from the Presidential Foreign Investment Promotion Council to the Presidential Foreign Intervention Promotion Council in an apparent attempt to expand its scope and encroach on the mandates of legitimate government revenue-generating agencies.

Aliyu said the commission had concluded the investigative phase of the case after obtaining statements from the suspect and other persons linked to the alleged fraud and was now preparing criminal charges.

“We have interacted with Mr. Adeniyi Adeyemi. He is among the persons we interviewed. We took his statement, noted everything he told us and drew our conclusions from the evidence before us. The investigation has now progressed to the criminal stage. We are rounding it off and preparing to file charges in court,” he said.

Responding to questions on allegations involving about N400 million reportedly linked to the case, Aliyu declined to comment, saying the issue formed part of the ongoing criminal investigation.

“I don’t want to go into that allegation because it is part of the criminal investigation. Once we conclude the process and the matter is before the court, Nigerians will see what our investigation uncovered,” he stated.

The ICPC boss disclosed that investigators found no evidence that Federal Government funds were approved or disbursed to either the fake PFIPC or the defunct PEAC.

He also absolved the Presidency of any involvement, saying the forged appointment letter did not originate from the Office of the President.

“Our investigation found no weakness in the systems of the State House, and the purported appointment letter did not emanate from the Presidency,” he said.

Aliyu said the investigation exposed weaknesses in verification procedures, inter-agency oversight and administrative processes across several MDAs, which were allegedly exploited by the suspect.

According to him, the commission interacted with officials of the Office of the Head of the Civil Service of the Federation, the Office of the Accountant-General of the Federation, the Budget Office and other relevant institutions during the investigation.

“We discovered weaknesses in some MDAs. We interacted with officials from the Office of the Head of the Civil Service of the Federation, the Office of the Accountant-General, the Budget Office and other agencies. These institutional gaps enabled Mr. Adeyemi to carry out the illegal activities under investigation,” he said.

Based on its findings, the commission recommended the prosecution of Adeniyi Adeyemi Matthew, administrative sanctions against public officers whose acts of omission or negligence facilitated the illegal operation of the fake agencies, and comprehensive institutional reforms to strengthen internal controls across MDAs.

“Our investigation found that some public officers failed to conduct due diligence and adhere to established procedures in their ministries, departments and agencies, thereby creating the opportunity for these illegal activities,” Aliyu said.

He disclosed that the commission had already submitted its interim report to President Tinubu and was awaiting feedback on its recommendations while continuing aspects of the criminal investigation.

“We have already submitted our report and are awaiting feedback from Mr. President. However, we are continuing with the criminal investigation because there are still issues we need to tidy up before filing the charges,” he said.

Aliyu added that the commission would ensure that all those found culpable are brought to justice and that institutional reforms recommended by the investigation would help prevent a recurrence of similar fraud.