The Independent Corrupt Practices And Other Related Offences Commission

The Independent Corrupt Practices and Other Related Offences Commission ICPC has recommended the prosecution of the alleged promoter of the Presidential Foreign Investment Promotion Council PFIPC, Adeniyi Adeyemi, following an investigation that uncovered fictitious government agencies and institutional lapses across several Ministries, Departments and Agencies MDAs.

According to the anti-corruption agency, the investigation revealed that the PFIPC operated without legal backing and falsely presented itself as a government-recognized institution. The probe also uncovered two additional fake agencies allegedly linked to the scheme, raising concerns over weaknesses in oversight within public institutions. The ICPC said its findings exposed significant administrative and institutional failures that enabled the unauthorized entities to present themselves as legitimate government bodies, prompting recommendations for stronger verification and regulatory controls across MDAs.

The commission has urged the prosecution of Adeniyi Adeyemi and called for disciplinary and corrective measures to address the systemic lapses identified during the investigation. It also recommended reforms aimed at preventing the creation and operation of fictitious agencies under the guise of government institutions. The investigation forms part of the ICPC’s broader efforts to combat corruption, strengthen accountability, and safeguard the integrity of public institutions in Nigeria.