President Bola Tinubu on Thursday received the interim report of the Independent Corrupt Practices and Other Related Offences Commission’s investigation into the alleged fictitious Presidential Foreign Investment Promotion Council, with the anti-graft agency recommending the immediate prosecution of Mr Adeniyi Adeyemi Matthew.

Speaking to State House correspondents after presenting the report at the Aso Rock Presidential Villa, ICPC Chairman Musa Adamu, SAN, said investigations conclusively established that Adeyemi was never appointed by the Federal Government, contrary to his claims.

He added that the PFIPC, also referred to in some documents as the Presidential Foreign Intervention Promotion Council, was never established by any law, Executive Order or other valid government instrument, confirming that it had no legal backing.

Adamu said, “The appointment letter presented by the suspect, along with other supporting documents, was completely forged and did not originate from the Presidency.”

Adamu said the investigation uncovered two additional fictitious agencies allegedly created by Adeyemi using forged legislative instruments: the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency/Public-Private Partnership. According to him, the suspect used the entities to open bank accounts and carry out unauthorised activities.

The ICPC chairman further alleged that Adeyemi unlawfully took over the office of the defunct Presidential Economic Advisory Council after gaining unauthorised access to the premises.

He said the suspect used the office to create an appearance of legitimacy for the fake agency in his dealings with visitors, government officials and foreign diplomats.

The ICPC chairman explained, “No Federal Government funds were approved or disbursed to the fake agency, and no security breach was found within the Presidency or the Central Bank of Nigeria.”

He, however, noted that the investigation uncovered institutional lapses that enabled Adeyemi to operate undetected for an extended period.

“The investigation identified weaknesses in verification processes, inter-agency coordination and oversight across several Ministries, Departments and Agencies, including the Office of the Secretary to the Government of the Federation, 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 the National Information Technology Development Agency,” Adamu said.

Adamu said the commission made three key recommendations based on its findings.

These include the prosecution of Adeyemi Matthew, administrative sanctions against public officers whose acts of omission enabled the fake agency to operate, and institutional reforms to strengthen internal controls across the affected Ministries, Departments and Agencies.

He added that the report presented to the President was interim, noting that criminal investigations were still ongoing to uncover additional evidence and identify any collaborators before charges are formally filed in court.