The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered two more fake agencies operated by the self‑styled Director‑General of the Presidential Foreign Intervention Promotion Council (PFIPC), Adeniyi Matthew Adeyemi.

ICPC Chairman Dr. Musa Adamu Aliyu, SAN, disclosed this while briefing State House correspondents after he submitted the commission’s interim report on the existence and operation of the fake agency at the Presidential Villa, Abuja.

Dr. Aliyu said the investigation revealed that Adeyemi was never appointed by the Federal Government and that the Presidential Foreign Investment Promotion Council was never established by law or executive order.

According to the interim report, the appointment letter presented by Adeyemi was forged, while the PFIPC illegally appropriated offices and instruments from the former Presidential Economic Advisory Council (PEAC).

He said the fake agency, using the former PEAC office, engaged in false representation, widespread impersonation and various illegal activities that exploited weaknesses in verification and inter‑agency oversight.

He further stated that the investigation uncovered two additional fake government agencies: the FCT Investment Promotion Agency (PIFA) and the Foreign Investment Promotion Agency (PIPA).

“These agencies were created using forged legislative instruments and were used to open bank accounts for illegal activities,” he said.

The ICPC boss said Adeyemi changed the name of the fake agency from Foreign Investment Promotion Council to Foreign Intervention Promotion Council and attempted to expand its mandate to include revenue generation.

He said: “The investigation found no funds were approved or disbursed for the fake PFIPC/PEAC, and there were no weaknesses in the State House or CBN system.”

Some recommendations of the committee, which was given 30 days to unravel the mystery behind the existence of the fake agency, include prosecution of Mr. Adeyemi; imposing administrative sanctions on public officers who facilitated the illegal operations; and instituting reforms to improve internal controls

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The public officers who were said to be collaborators are from the Office of the Secretary to the Government of the Federation (SGF), the Head of the Civil Service of the Federation, the Accountant‑General’s Office, the Budget Office and the National Information Technology Development Agency, NITDA.

“The report is interim and the investigation continues to uncover more details to file criminal charges against Adeyemi and his collaborators,” he said.

Dr. Aliyu added that President Tinubu has taken note of the findings and has expressed his commitment to transparency and accountability in addressing the issue.

Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has raised concerns over what he described as a suspicious and unauthorised payment into one of his private bank accounts.

In a statement issued on Friday by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku said the transfer originated from an individual or entity unknown to him and carried the narration, “Contribution Electioneering Campaign.”

According to the statement, neither Atiku nor his campaign solicited, authorised or had any knowledge of the payment.

The former Vice President said the account was strictly private and its details were not in the public domain, raising concerns about how the information could have been obtained.

“How did unknown persons obtain the confidential banking details of a private citizen?”

Atiku said the incident raised broader concerns about the security of Nigerians’ financial information, particularly if the private banking details of a former Vice President and presidential candidate could allegedly be accessed without his consent.

“If the private banking information of a former Vice President and a leading presidential candidate can be accessed and deployed for reasons yet unknown, then no Nigerian’s financial privacy is safe.”

He further expressed concern that the alleged disclosure could have involved individuals with privileged access to confidential information.

According to him, if such access is established, it could expose account holders to criminal elements, including kidnappers, terrorists, bandits and fraudsters.

The former Vice President also called the attention of Nigerians and security agencies to the incident, describing it as part of what he termed a series of “suspicious activities” ahead of the 2027 general elections.

“We therefore put the Nigerian public and the security agencies on notice about this latest incident in a litany of suspicious activities leading up to next year’s general elections.”

Atiku also alleged that the incident could be part of an attempt to damage his reputation as political activities intensify ahead of the elections.

He urged Nigerians not to be distracted by what he described as “tired tactics” aimed at character assassination.

“Such desperate antics have failed before and will fail again.”

The ADC presidential candidate said he remained focused on his political agenda and his stated commitment to providing solutions to the country’s challenges.

“The Waziri Adamawa remains focused on offering Nigerians credible leadership and practical solutions to the nation’s challenges.”

The Department of State Services (DSS) has arraigned a 47-year-old man, Ugochukwu Eze, popularly known as “Amazon,” before a Federal High Court in Lagos over allegations that he hacked into the server of SunTrust Bank Plc and fraudulently diverted N800 million into several accounts.

The court has  remanded him in correctional custody pending hearing and determination of his bail application.

Eze was brought before Justice Friday Ogazi on Thursday, August 6, 2026, on a five-count charge bordering on cybercrime, unauthorised access to critical financial infrastructure, and money laundering.

According to the prosecutor, Muhammed Bajela, the defendant and others still at large allegedly conspired between 2023 and 2026 to unlawfully interfere with the bank’s computer system, resulting in the diversion of over N800 million belonging to SunTrust Bank.

The DSS further alleged that Eze concealed and transferred proceeds linked to the alleged cyberattacks through some financial institutions and unlawfully accessed critical national financial information infrastructure.

Bajela maintained that the offences violated Sections 5, 6(1), and 8 of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2024, as well as Sections 10, 20, and 18(2)(d) of the Money Laundering (Prevention and Prohibition) Act, 2022.

When the charges were read, Eze pleaded not guilty. Based on his plea, the prosecutor urged the court to fix a trial date and remand the defendant in the custody of a correctional centre pending the conclusion of the trial.

However, the defence counsel, Ezekiel Afrogha, informed Justice Ogazi that a bail application had been filed on behalf of the defendant and that he had been in the custody of the DSS for over a month. Responding, the prosecution stated it had not been served with the bail application but added that its witnesses were available to proceed.

Justice Ogazi subsequently adjourned the case until August 24, 2026, for the hearing of the bail application and ordered that the defendant be remanded in the custody of the Nigerian Correctional Service (NCoS) until his bail request is determined.

One of the counts alleges that Eze, between 2023 and 2026, unlawfully hindered the operation of SunTrust Bank Plc’s computer system and fraudulently diverted over N800 million belonging to the bank, an offence punishable under Section 8 of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2024.History

The SunTrust Bank cyber heist is one of the largest banking fraud cases to be prosecuted in Nigeria in recent years.

The DSS, which has constitutional responsibility for protecting the country’s critical national infrastructure, has been investigating the case for several months.

Sources close to the investigation revealed that the bank’s server was compromised over a three-year period, with funds gradually siphoned into multiple accounts across various financial institutions.

The arrest and arraignment of Eze mark a significant breakthrough in the investigation, but the prosecution has indicated that other suspects remain at large and are being pursued.

The case has drawn attention to the growing threat of cybercrime in Nigeria’s financial sector, where sophisticated hackers have increasingly targeted banks and other financial institutions.

The Cybercrimes (Prohibition, Prevention, etc.) Act, 2024, which was enacted to strengthen Nigeria’s legal framework for combating cybercrime, provides for severe penalties for offences such as unauthorised access to computer systems, data interference, and computer-related fraud.

The Money Laundering (Prevention and Prohibition) Act, 2022, also criminalises the concealment and transfer of proceeds of crime.

As the case progresses, the court will determine whether the prosecution can prove its case beyond a reasonable doubt.

For now, Ugochukwu Eze, the man known as “Amazon,” remains in custody, with his bail application scheduled to be heard on August 24, 2026.

SunTrust Bank, meanwhile, continues its battle to recover the N800 million allegedly lost to the hackers, a saga that has now moved from the digital realm into the corridors of justice.