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President Bola Tinubu has ordered a comprehensive forensic investigation into the fake Presidential Foreign Intervention Promotion Council (PFIPC) following findings by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) that additional fictitious government agencies exist.
The directive was announced on Wednesday by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, while briefing State House correspondents after the Federal Executive Council (FEC) meeting at the Presidential Villa, Abuja.
According to the minister, the investigation will examine weaknesses in government procedures, internal controls and administrative processes that allowed fake agencies to operate within the federal system.
He said the probe would identify what went wrong, recommend measures to prevent a recurrence and strengthen institutional safeguards across government.
Tinubu also directed that the review be extended to the Integrated Personnel and Payroll Information System (IPPIS), warning that the existence of fake agencies could indicate the presence of ghost workers on the federal payroll.
The President said eliminating such irregularities is essential to protecting public funds and ensuring genuine civil servants receive their salaries and allowances without unnecessary financial strain.
The Attorney-General of the Federation and the Ministry of Finance have been tasked with working alongside relevant agencies to investigate the administrative, accounting and governance lapses linked to the scandal.
Speaking on the findings, the Minister of Information and National Orientation, Mohammed Idris, disclosed that the ICPC uncovered at least two additional fake agencies beyond the previously identified Presidential Foreign Intervention Promotion Council.
He said Tinubu directed that professional audit firms be engaged to conduct a full forensic review of the system to identify loopholes and prevent similar occurrences in the future.
Idris noted that preliminary findings suggest the irregularities may have predated the current administration, adding that the President is determined to strengthen public institutions and prevent a repeat of the embarrassment.
Meanwhile, the Federal Executive Council approved Double Taxation Avoidance Agreements between Nigeria and Ghana, Tanzania and Switzerland to encourage cross-border investment and improve Nigeria's tax treaty network.
The council also approved a $1.25 billion concessional financing facility from the International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD) to support investment, economic growth and job creation in the country.
