The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it has uncovered two additional fictitious government agencies allegedly created by Adeniyi Adeyemi, Director-General of the controversial Presidential Foreign Investment Promotion Council (PFIPC), as investigations into the suspected investment fraud continue.
According to the anti-corruption agency, Adeyemi allegedly established the FCT Investment Promotion Agency (FIPA) and the Foreign Investment Promotion Agency/Public-Private Partnership (FIPA-PPP) to expand what investigators described as a fraudulent operation.
The ICPC Chairman, Dr. Musa Aliyu, disclosed the development on Thursday while briefing State House correspondents after presenting an interim investigation report to President Bola Ahmed Tinubu at the Presidential Villa in Abuja.
Aliyu said the discovery forms part of the Commission’s ongoing investigation into the activities of the suspect and the alleged use of fake government institutions to mislead investors and facilitate fraudulent transactions.
The ICPC said investigations are continuing and assured Nigerians that all individuals found culpable would be brought to justice in accordance with the law.
