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Nigeria PFIPC scandal: ICPC and House Committee probe

Updated 12 times since CLSTR started tracking revisions of this situation.

What changed

2026-08-29 08:20 UTC → 2026-09-03 09:14 UTC · added ~~removed~~

Nigeria PFIPC scandal: ICPC ~~indicts Adeyemi~~ and ~~expandsprobe~~ House Committee probe

Following President Bola Tinubu’s July 2026 directive, the ICPC confirmed that the Presidential Foreign Investment Promotion Council (PFIPC) was a fictitious entity. The investigation found that Adeniyi Adeyemi Mathew used a forged appointment letter to operate the council, which had appropriated the identity and offices of the former Presidential Economic Advisory Council. While no federal funds were disbursed to the PFIPC, the ICPC uncovered two other fake agencies—the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency—created with forged instruments to open bank accounts. On 5 August 2026, the ICPC indicted Adeyemi and recommended administrative sanctions for facilitating officials. Adeyemi remains in custody and has requested a public parliamentary interrogation. The African Democratic Congress (ADC) rejected the report on 7 August 2026, calling it ‘inadequate’ and ‘predictable damage control.’ On 23 August 2026, the investigation expanded to reveal another alleged fake agency: the National Brands Development and Made in Nigeria Special Project Office. Following a briefing by ICPC Chairman Musa Aliyu, President Tinubu ordered the arrest of the alleged promoter, George Buchi Nwabueze, and the suspension of three permanent secretaries. On 25 August 2026, the ICPC indicted the Budget Office of the Federation (BOF) for including the non-existent PFIPC in the 2026 federal budget. Findings revealed that Adeyemi used a non-existent individual, Akanbi Adewale, to sign fraudulent letters on State House letterhead. Despite this, the Office of the Accountant-General of the Federation granted the PFIPC self-accounting status and an administrative code, facilitating a ₦1.3 billion budget allocation. The ICPC cleared Chief of Staff Femi Gbajabiamila of any involvement. On 29 August 2026, the ICPC recommended the prosecution of Adeyemi and disciplinary action against 13 public officials. The commission called for further investigations into government agencies and financial institutions that may have assisted these unauthorized organizations in gaining official recognition.

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