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    PFIPC Probe Nears Climax as ICPC Wraps Investigation, Reps Set to Unveil Findings

    National UpdateBy National UpdateAugust 4, 2026 News No Comments3 Mins Read
    The self-proclaimed Director-General of the Presidential Foreign Investment Promotion Council (PFIPC), Adeniyi Adeyemi
    The self-proclaimed Director-General of the Presidential Foreign Investment Promotion Council (PFIPC), Adeniyi Adeyemi
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    The controversy surrounding the alleged Presidential Foreign Intervention Promotion Council (PFIPC) is heading for a decisive moment as the Independent Corrupt Practices and Other Related Offences Commission (ICPC) has completed its investigation, while the House of Representatives says it will this week unveil its findings before submitting a final report.
    The twin developments come nearly a month after President Bola Tinubu directed the anti-graft agency to unravel the circumstances surrounding the controversial council and determine whether it was legitimately established or fraudulently operated.
    Sources familiar with the investigation disclosed that the ICPC has concluded interrogations of key suspects, including the self-acclaimed Director-General of the PFIPC, Prince Adeniyi Adeyemi Matthew, and is finalising its report ahead of the presidential deadline.
    Adeyemi, who remains in custody following his arrest, was reportedly questioned by ICPC investigators last Thursday after an earlier interview was postponed because of his lawyer’s late arrival.
    While the anti-corruption agency has remained silent on the outcome of its investigation, the House ad hoc committee probing the matter says it has completed the bulk of its work and will brief Nigerians on its findings this week.
    Committee Chairman, Hon. Yusuf Adamu Gagdi, had earlier disclosed that lawmakers uncovered what they described as an extensive web of forged government documents, including records relating to a purported Directorate of Administration and Support Services under the State House, which investigators said does not exist.
    According to the committee, final verification with a handful of government agencies is ongoing before its report is laid before the House for legislative action.
    However, Adeyemi has insisted he is being unfairly singled out.
    Through his lawyers, led by Festus Akhigbe, he appealed to the House committee to allow him to testify in person, arguing that any report produced without hearing his side would violate his constitutional right to fair hearing.
    His legal team contended that the PFIPC interacted with several federal institutions, including the Office of the Secretary to the Government of the Federation, the Central Bank of Nigeria, the Office of the Accountant-General of the Federation, the Budget Office, the Office of the Head of the Civil Service of the Federation and the National Assembly.
    The lawyers also claimed that security agencies participated in PFIPC activities and alleged that the Economic and Financial Crimes Commission (EFCC) provided office accommodation for the council and recognised its leadership.
    According to the defence, it would have been impossible for one individual to create and operate a purported federal agency without the knowledge or involvement of multiple government institutions.
    The House committee, however, said it could not invite Adeyemi to testify earlier because he remains in custody under a valid court order, adding that it chose to respect the judicial process while continuing its investigation.
    With both the ICPC report and the lawmakers’ findings expected within days, the long-running PFIPC controversy appears set for a critical phase that could determine whether criminal prosecutions, institutional sanctions or wider administrative reforms will follow.

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