Independent Corrupt Practices and Other Related Offences Commission, ICPC, indicted "Director General" Adeyemi Adeniyi, in its interim report on the investigation into the fake Presidential Foreign Investment Promotion Council, PFIPC, sumitted to P{resident Bola Ahmed Tinubu in Abuja.

ICPC indicated that the agency was never established, the Director General Adeyemi was never appointed by the Chief of Staff, concluded the various documents were forged.

Chairman of the Independent Corrupt Practices and Other Related Offences Commission, ICPC, Musa Aliyu Adamu, SAN, declared the agency was fake saying that it was not established by any law.

According the ICPC Chairman, the Fake DG operated the fictitious agency with an obsolete law which has no bases in the Nigerian constitution.

Adamu said the fake Director General and his cohorts broke into a moribund office from where they indulged in the illegal operations.

The ICPC boss also revealed that no funds were approved legitimately for the operations of the fake agency.

He said neither the agency's establishment nor the DG's appointment was lawful or passed due process.

The report, however, recommended that Adeyemi and those who aided the phantom establishment of the agency and it's operations be prosecuted.

It also recommended institutional reforms to strengthen government Ministries, Departments and Agencies to forestall future lapses in governance.

President Tinubu had on the 7th of July, 2026, directed ICPC to investigate the alleged establishment of PFIPC.