The House of Representatives is set to commence an investigation into the controversial allocation of N1.32 billion to the Presidential Foreign Investment Promotion Council (PFIPC), an agency the Federal Government says was never legally established.
The investigation will begin with the inaugural sitting and public hearing of an ad hoc committee chaired by Rep. Yusuf Gagdi at the National Assembly in Abuja.
The committee is expected to determine how the agency found its way into the 2026 Appropriation Act and identify the stage of the budget process at which the allocation was introduced.
The probe follows the arrest of Adeniyi Adeyemi, who allegedly presented himself as the Director-General of the PFIPC and is accused of facilitating the agency’s inclusion in the national budget.
Adeyemi allegedly claimed that he paid N100 million through intermediaries to the Chief of Staff to the President, Femi Gbajabiamila, to support the establishment of the agency. The allegation has been strongly denied by both the Presidency and Gbajabiamila.
As part of the investigation, the committee has invited several top government officials to appear before it, including the Ministers of Finance, Budget and Economic Planning, Industry, Trade and Investment, the Attorney-General of the Federation, the Governor of the Central Bank of Nigeria, the Chairman of the Economic and Financial Crimes Commission (EFCC), and the Inspector-General of Police.
However, the composition of the witness list has drawn criticism from some lawmakers and public affairs analysts, who questioned the decision not to invite Gbajabiamila and Adeyemi, the two principal figures at the centre of the controversy.
The critics argued that excluding both men from the proceedings could undermine public confidence in the credibility, transparency and outcome of the investigation.
The committee is expected to hear testimonies from invited officials and examine relevant documents as it seeks to unravel the circumstances surrounding the controversial budget allocation.
