Nigeria Probe Finds 2 More Fake Agencies, Flags €800,000 Budget Line
Updated
Updated · beninwebtv.bj · Aug 8
Nigeria Probe Finds 2 More Fake Agencies, Flags €800,000 Budget Line
3 articles · Updated · beninwebtv.bj · Aug 8
Summary
Two additional fictitious agencies were uncovered in Nigeria’s probe of the fake PFIPC, with investigators tracing their creation to forged documents and state-linked bank accounts.
A preliminary anti-corruption report said Adeniyi Adeyemi Matthew was never appointed by any public authority, despite posing as head of the non-existent investment council; his mid-July arrest could now lead to prosecution.
An €800,000 line for PFIPC appeared in Nigeria’s 2026 budget, but investigators said no money was disbursed and found no direct fund transfers involving the presidency or central bank.
The report blamed failures across ministries and public departments, while also pointing to possible collusion by officials whose roles are still under investigation.
Nigeria’s anti-corruption agency has urged sanctions and tighter controls over agency creation, official appointments and state bank accounts as the inquiry continues.