Alleged N1.3bn budget insertion: ICPC commences investigation into fake agency

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has commenced investigations into the alleged Presidential Foreign Intervention Promotion Council (PFIPC) scandal following a directive by President Bola Tinubu.

The development came as embattled Adeniyi Adeyemi, called on the President to establish an independent, multi-stakeholder panel to investigate the allegations, insisting that an ICPC-led probe alone would not inspire public confidence.

Adeyemi is also expected to be arraigned before the Federal High Court in Abuja on Tuesday over fresh charges filed by the Nigeria Police Force in suit number FHC/ABJ/CR/562/2025.

Confirming the commencement of the investigation, John Odey, ICPC spokesperson, said the anti-corruption agency had already taken up the matter and possessed the capacity to conduct the investigation either independently or in collaboration with other law enforcement agencies.

“The matter has been given to us. We are working on it. The capacity of the ICPC to work on its own or in collaboration with other agencies has never been in doubt,” the spokesperson said.

President Tinubu had last Tuesday directed the ICPC to investigate the alleged fictitious PFIPC and claims of a N1.3 billion insertion into the 2026 Appropriation Bill, directing the commission to submit its findings within 30 days.

Read also: Court grants Ex-minister Nnaji N20m bail as ICPC alleges N29.58m laundering, fake certificates

In an open letter dated July 13, Adeyemi welcomed the presidential directive, describing it as a positive first step toward uncovering the truth.

However, he argued that an investigation conducted solely by the ICPC would face structural limitations because the commission ultimately reports to the same arm of government where the allegations originated.

“I commend your recent directive tasking the ICPC with investigating the circumstances surrounding the PFIPC scandal and N1.3 billion allocation inserted into the 2026 Appropriation Bill.

“This directive is a vital first step, but the structural realities of this investigation compel me to speak out of a profound desire for absolute transparency,” he wrote.

Adeyemi maintained that the current arrangement would not afford him a fair hearing, alleging that official narratives had focused primarily on securing his arrest rather than addressing what he described as the broader issues and alleged high-level involvement he had raised.

According to him, “Under the current framework, obtaining a truly impartial hearing presents severe structural challenges.

“The public narrative emanating from official channels remains heavily weighted toward my immediate arrest, effectively overshadowing the gravity of the systemic vulnerabilities and high-level involvement I have brought to light.

“True accountability cannot be achieved when the agency conducting the investigation answers directly to the branch of government within which the core allegations lie”, he stated.

He also claimed that surrendering to law enforcement authorities under the existing arrangement would expose him to serious personal danger.

“I must state clearly that walking freely into custody under the current arrangement poses an immediate, existential threat to my life.

“I have received verified, highly reliable intelligence indicating that I am targeted for elimination the moment I surface in an unmonitored environment,” he alleged.

Adeyemi further questioned the reported death of Dolapo Babatunde Tanimola, whom he described as a key intermediary in the matter.

He alleged that although official reports claimed Tanimola died in a fire incident at Kachi Hotel in Utako, Abuja, there had been no independent eyewitness or media verification of the incident.

He also claimed that the hotel was subsequently demolished by unidentified armed persons without the involvement of relevant Federal Capital Territory authorities, alleging that the action destroyed a potential crime scene and vital evidence.

To ensure what he described as a transparent and credible investigation, Adeyemi urged President Tinubu to constitute an independent investigative panel comprising representatives of civil society organisations, the Nigerian Bar Association, independent media organisations, international financial institutions, diplomatic missions, human rights organisations, as well as the ICPC and the Economic and Financial Crimes Commission serving as technical partners.

He proposed that organisations including Amnesty International, the Socio-Economic Rights and Accountability Project, the World Bank, the International Monetary Fund, the United Nations, the African Union, ECOWAS, the European Union, the United States and the United Kingdom should be represented.

According to him, he would immediately submit documentary and verifiable evidence once such a panel was established.

“The moment this independent, multi-stakeholder panel is constituted, I will immediately step forward to present comprehensive documentation and verifiable evidence.

“A system cannot credibly investigate itself when its own key actors are central to the discourse,” he said.

Adeyemi argued that establishing an independent panel would enhance public confidence in the investigation and reinforce the Federal Government’s commitment to transparency and accountability.

The allegations surrounding the PFIPC and the reported N1.3 billion budget insertion have generated public attention in recent days, with the outcome of the ICPC investigation expected to determine the next steps in the matter.