The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it has uncovered two additional fictitious government agencies allegedly created by Adeniyi Adeyemi, the self-styled Director-General of the controversial Presidential Foreign Investment Promotion Council (PFIPC).

The anti-graft agency said the suspect allegedly established the FCT Investment Promotion Agency (FIPA) and the Foreign Investment Promotion Agency/Public-Private Partnership (FIPA-PPP) as part of an expanded scheme to defraud unsuspecting victims.

ICPC Chairman, Musa Aliyu, disclosed this on Thursday while briefing State House correspondents after presenting an interim investigation report to President Bola Tinubu at the Presidential Villa, Abuja.

The report followed a 30-day investigation ordered by the President on July 7 into allegations surrounding the purported Presidential Foreign Investment Promotion Council.

Aliyu said the commission's investigation established that Adeyemi was never appointed by the Federal Government and that the PFIPC had no legal existence.

According to him, the suspect created the additional fake agencies using forged legislative instruments presented as enabling Acts to give the organisations an appearance of legitimacy.

"The ICPC also discovered that Adeniyi Adeyemi created two additional fictitious government agencies apart from the one already known in the public domain.

"To facilitate the creation of these agencies, he used fake legislative instruments styled as enabling Acts and relied on them to open bank accounts," Aliyu said.

The ICPC chairman further revealed that Adeyemi allegedly opened two commercial bank accounts to facilitate the operations of the fake organisations.

He said the commission has recommended the prosecution of the suspect, disciplinary action against public officials whose negligence allegedly enabled the fraud, and comprehensive reforms to strengthen internal controls across Ministries, Departments and Agencies (MDAs).

Aliyu added that investigations are ongoing to identify other collaborators and gather additional evidence to strengthen the criminal case before charges are filed in court.