PFIPC scandal: Tinubu receives ICPC’s interim report on ‘fake’ agency
President Tinubu receives ICPC’s interim report on the ‘fake’ PFIPC agency, recommending prosecution for Adeniyi Adeyemi Matthew in the PFIPC scandal. Read More: https://punchng.com/pfipc-scandal-tinubu-receives-icpcs-interim-report-on-fake-agency/
President Bola Tinubu received the interim report of the ICPC's investigation into the fictitious Presidential Foreign Investment Promotion Council (PFIPC) on Thursday. ICPC Chairman Musa Adamu, SAN, unveiled that the investigation concluded Adeyemi Matthew was never appointed by the Federal Government and the PFIPC never existed.
The ICPC found additional fictitious agencies, FCT Investment Promotion Agency and the Foreign Investment Promotion Agency/Public-Private Partnership, also established by Adeyemi. No funds were approved for the fake agencies, and no security breach occurred. However, the ICPC identified weaknesses in verification processes and inter-agency coordination.
Based on the findings, ICPC recommended prosecuting Adeyemi, imposing administrative sanctions on public officers, and instituting reforms to strengthen internal controls across affected agencies. The report follows President Tinubu's July 7, 2026 directive to conduct a comprehensive investigation into the PFIPC scandal.
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