The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered two additional fictitious government agencies in its ongoing investigation into the controversial Presidential Foreign Investment Promotion Council (PFIPC).
CDA News Nigeria reports that the anti-corruption agency linked the two alleged fake agencies to Adeniyi Matthew Adeyemi, who is accused of presenting himself as the Director-General of the non-existent PFIPC.
CDA News gathered from the report that the agencies identified during the investigation are the **FCT Investment Promotion Agency** and the **Foreign Investment Promotion Agency and Public Private Partnership**.
The ICPC said its investigation uncovered alleged impersonation and false representation connected with the scheme. The commission has also recommended the prosecution of Adeyemi following findings that the PFIPC had no legal backing from the Federal Government.
The development has raised fresh concerns about the monitoring of government institutions and the verification of agencies operating under the name of the Federal Government.
The ICPC said investigations are continuing, while further actions will be taken based on the evidence gathered.
CDA News Nigeria will continue to monitor the investigation and provide updates as they emerge.
*All rights reserved ©2026 CDA News Nigeria. Contact: [info@cdanews.ng](mailto:info@cdanews.ng) | [www.cdanews.ng](http://www.cdanews.ng) | +2348030980314 | 348 Ikwerre Road, Port Harcourt, Rivers State.*