The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has recommended the prosecution of Adeniyi Adeyemi Matthew, promoter of the controversial Presidential Foreign Investment Promotion Council, after concluding that neither he nor the organisation had any legal recognition from the Federal Government.
ICPC Chairman, Dr. Musa Adamu Aliyu (SAN), disclosed this on Thursday while presenting an interim investigation report to President Bola Tinubu at the Presidential Villa, Abuja. The report followed the President's directive issued 30 days earlier, mandating the anti-graft agency to investigate the activities of the organisation.
Aliyu said investigations revealed that Adeyemi was never appointed by the Federal Government or any authorised institution. He added that the Presidential Foreign Investment Promotion Council was not established by any law, executive order or any recognised government instrument.
According to the ICPC chairman, the suspect allegedly relied on forged appointment letters and fabricated official documents to present himself as the head of the organisation while carrying out its activities.
The commission also uncovered two additional fictitious agencies allegedly created by the suspect. They were identified as the Foreign Capital and Wealth Investment Promotion Agency and the Foreign Investment Promotion Agency/Public-Private Partnership.
Aliyu further disclosed that investigators found forged legislative documents allegedly used to justify the existence of the agencies and facilitate the opening of commercial bank accounts through which their operations were conducted.
He alleged that the suspect unlawfully occupied the office of the defunct Presidential Economic Advisory Council and used it as the operational base for the fake organisation while engaging in impersonation and false representation.
The ICPC boss said the investigation had progressed to the criminal prosecution stage, noting that statements had been obtained from the suspect and other individuals connected with the case.
"We have completed the investigative phase. We have interacted with Mr. Adeniyi Adeyemi, obtained his statement and reached conclusions based on the available evidence. We are now preparing criminal charges for prosecution," Aliyu said.
He, however, declined to comment on reports of about ₦400 million allegedly linked to the case, explaining that the matter remains part of the ongoing criminal investigation.
Aliyu also stated that the investigation found no evidence that Federal Government funds were approved or released to either the alleged fake council or the defunct Presidential Economic Advisory Council. He further cleared the Presidency of any involvement, stressing that the forged appointment letter did not originate from the Office of the President.
The ICPC chairman said the investigation exposed weaknesses in verification procedures, inter-agency coordination and administrative processes across several Ministries, Departments and Agencies (MDAs), which were allegedly exploited by the suspect.
He added that the commission had recommended the prosecution of Adeyemi, administrative sanctions against public officers whose negligence allegedly aided the illegal operations, and reforms aimed at strengthening internal control mechanisms across government institutions.
Aliyu assured Nigerians that all persons found culpable would be prosecuted in accordance with the law, while the recommended reforms would help prevent similar fraudulent activities within public institutions.
Tags
News