Speaking at a press conference in Abuja, ICPC Chairman, Dr. Musa Adamu Aliyu, SAN, said the findings followed a 30-day investigation directed by President Bola Ahmed Tinubu to establish the facts surrounding the activities of the purported government agency.
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According to the commission, investigators confirmed that Adeniyi Adeyemi Mathew was never appointed by the Federal Government and that the PFIPC was not established by any Act of the National Assembly, Executive Order or any other lawful instrument of government. The report further stated that the appointment letter and several supporting documents allegedly used by the organisation were forged.
Dr. Aliyu disclosed that the investigation also established that the alleged fake agency unlawfully adopted the identity and operational framework of the former Presidential Economic Advisory Council (PEAC), enabling it to present itself as a legitimate government institution.
The ICPC further revealed that investigators uncovered evidence indicating that two additional fictitious agencies were allegedly created by Adeyemi. The commission alleged that forged legislative documents were used to support the establishment of the organisations and facilitate the opening of bank accounts connected to their operations.
The anti-corruption agency, however, stressed that no Federal Government funds were approved or released to the alleged PFIPC and found no weaknesses in the operational systems of the Presidency or the Central Bank of Nigeria. It also maintained that the forged appointment letter did not originate from the Presidency.
As part of its recommendations, the ICPC called for the prosecution of Adeniyi Adeyemi Mathew over the alleged offences uncovered during the investigation. It also proposed disciplinary action against public officials whose negligence may have enabled the activities of the alleged fake agency, alongside institutional reforms aimed at strengthening oversight and document verification across government institutions.
The commission said investigations into the financial activities, bank accounts and suspected collaborators linked to the alleged fake agencies are still ongoing, assuring Nigerians that all persons found culpable would be prosecuted in accordance with the law.