The Speaker of the House of Representatives, Tajudeen Abbas, is set to inaugurate an ad hoc committee today to investigate the controversial inclusion of the unestablished Presidential Foreign Investment Promotion Council (PFIPC) in the 2026 Appropriation Act.
According to The PUNCH, the committee will also commence a public hearing at the National Assembly Complex in Abuja under the constitutional powers granted to the National Assembly by Sections 88 and 89 of the 1999 Constitution (as amended).
The panel, chaired by Yusuf Gagdi, lawmaker representing Kanke/Kanam/Pankshin Federal Constituency of Plateau State, was constituted following a House resolution adopted two weeks ago.
Lawmakers are investigating how about N1.32 billion was allocated to the PFIPC despite the agency not being legally established.
The investigation follows the arrest of Adeyemi Adeniyi, who allegedly posed as the Director-General of the PFIPC and is accused of facilitating the agency’s inclusion in the 2026 budget.
The controversy intensified after Adeniyi allegedly claimed he paid N100 million through proxies to the President’s Chief of Staff, Femi Gbajabiamila, to help establish the agency. Both the Presidency and Gbajabiamila’s office have denied the allegation.
The committee has invited several senior government officials to appear before it, including the Ministers of Budget and Economic Planning, Finance, Industry, Trade and Investment, Justice, and Foreign Affairs. Others expected are the Governor of the Central Bank of Nigeria, the heads of the EFCC, ICPC, Fiscal Responsibility Commission, the Auditor-General for the Federation, the Head of the Civil Service, the Secretary to the Government of the Federation, the Nigerian Investment Promotion Commission, the Department of State Services and the Inspector-General of Police.
The panel also called on civil society organisations, professional bodies, development partners, relevant institutions and members of the public to submit memoranda relating to its terms of reference.
Its mandate includes determining how the PFIPC was inserted into the 2026 budget despite lacking legal backing and tracing the budgetary allocation from the executive proposal through legislative consideration to its final passage.
However, the committee has drawn criticism for failing to invite Gbajabiamila and Adeniyi, the two central figures in the controversy.
A committee member, who spoke anonymously to The PUNCH, described the omission as a sign of possible bias, arguing that excluding the pair could undermine the credibility of the investigation.
Public affairs analyst Jackson Ojo also questioned the decision, saying the Chief of Staff should have been invited to publicly respond to the allegations against him and strengthen public confidence in the probe.
The House constituted the panel following growing public concern over alleged irregularities in the 2026 budget, particularly the allocation of public funds to an agency the Federal Government maintains does not legally exist.
