The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has reaffirmed that its investigation into the controversial Presidential Foreign Investment Promotion Council (PFIPC) found no evidence implicating the Presidency or President Bola Ahmed Tinubu in the activities of the purported government body.
The commission's interim report, presented by ICPC Chairman Dr. Musa Adamu Aliyu (SAN) at the Presidential Villa, concluded that the PFIPC was never established through any constitutional or statutory process. Investigators said the council had no legal backing, having not been created by an Act of the National Assembly, an Executive Order, or any other recognised government instrument.
According to the commission, investigations also established that Adeniyi Adeyemi, who claimed to be the Director-General of the council, was never appointed by the Federal Government. The ICPC said its findings showed that documents presented in support of his appointment lacked authenticity and did not originate from any authorised government office.
The anti-corruption agency stated that comprehensive verification carried out across relevant ministries, departments, and agencies found no official records recognising the PFIPC as a legitimate federal institution. It added that there was no evidence that the Presidency approved, supervised, or participated in the activities of the organisation.
The report further recommended that criminal proceedings be initiated against those directly involved in the establishment and operation of the alleged fake council. It also urged relevant government institutions to strengthen document verification procedures and improve inter-agency coordination to prevent similar incidents.
Meanwhile, the House of Representatives Ad Hoc Committee investigating the matter has continued its legislative inquiry, insisting that all individuals connected with the case must account for their roles. Lawmakers have maintained that the investigation is aimed at protecting the integrity of public institutions and preventing the misuse of government identity.
The ICPC said investigations into other aspects of the case remain ongoing, assuring Nigerians that anyone found to have violated the law would be held accountable in accordance with due process.
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