The Speaker of the House of Representatives, Tajudeen Abbas, will today inaugurate an ad hoc committee to investigate the controversial inclusion of the unestablished Presidential Foreign Investment Promotion Council (PFIPC) in the 2026 Appropriation Act.
This comes amid fresh criticism over the exclusion of the President’s Chief of Staff, Femi Gbajabiamila, from the list of invited witnesses.
The inauguration and public hearing will take place at the National Assembly Complex, Abuja, in line with Sections 88 and 89 of the 1999 Constitution (as amended), which empower the National Assembly to investigate matters relating to the administration of public institutions and the management of public funds.
The committee, chaired by the member representing Kanke/Kanam/Pankshin Federal Constituency of Plateau State, Yusuf Gagdi, was constituted two weeks ago following a resolution of the House during plenary presided over by Speaker Abbas.
Its assignment is to investigate how budgetary provisions amounting to about N1.32bn were made in favour of the Presidential Foreign Investment Promotion Council, an agency that had not been legally established.
The probe follows the arrest of Mr Adeyemi Adeniyi, who allegedly presented himself as the Director-General of the PFIPC and is accused of orchestrating the inclusion of the agency in the 2026 budget despite its non-existence.
The controversy deepened after Adeniyi reportedly claimed that he paid N100m through proxies to Gbajabiamila to facilitate the establishment of the agency.
The allegation has been denied by both the Presidency and the Office of the Chief of Staff.
A copy of the committee’s invitation, signed by Gagdi and obtained by The PUNCH, stated that the hearing would bring together key government officials, civil society organisations, professional bodies, development partners, the media and members of the public.
It read: “The ad hoc committee to investigate the Unestablished Presidential Foreign Investment Promotion Council in the Federal Budget Framework hereby invites Ministries, Departments and Agencies, Civil Society Organisations, professional bodies, development partners, the media, relevant stakeholders, and members of the general public to its inauguration and public hearing.
“The following stakeholders are invited to appear before the committee:
“Honourable Minister of Budget and Economic Planning, Honourable Minister of Finance, Honourable Minister of Industry, Trade and Investment, Honourable Attorney-General of the Federation and Minister of Justice and the Honourable Minister of Foreign Affairs.”
Others listed included the “Governor, Central Bank of Nigeria, Executive Chairman, Economic and Financial Crimes Commission, Chairman, Independent Corrupt Practices and Other Related Offences Commission, Auditor-General for the Federation and Chairman, Fiscal Responsibility Commission.”
The invitation further listed the Head of the Civil Service of the Federation, the Secretary to the Government of the Federation, the Executive Secretary/Chief Executive Officer of the Nigerian Investment Promotion Commission, the Director-General of the Department of State Services and the Inspector-General of Police among those expected to appear before the committee.
The notice also called on interested stakeholders, professional bodies, civil society organisations, relevant institutions and members of the public to submit memoranda on issues relating to the committee’s terms of reference.
The panel is expected to determine how the PFIPC found its way into the 2026 budget despite lacking legal backing.
It will also trace the budgetary provision from the executive’s proposal through legislative consideration to its eventual passage, with a view to identifying the stage at which the allocation was introduced.
However, the committee’s decision not to invite Gbajabiamila or Adeniyi has sparked concerns over its credibility.
A member of the committee, who spoke to The PUNCH on condition of anonymity, expressed disappointment over the omission, arguing that the two central figures in the controversy should have been among the first witnesses invited.
“From the notice, you will see that the two central figures are not invited. I mean Gbajabiamila and Adeyemi. There is an obvious attempt to exempt Gbajabiamila, and that is an attempt by the committee to clear him. From the notice of invitation, there is already a bias,” the lawmaker said.
Also reacting, public affairs analyst Jackson Ojo said the exclusion of the President’s Chief of Staff could undermine public confidence in the investigation.
“The committee is starting on the wrong footing. They should have invited the Chief of Staff to clear his name.
“As important as the invited government officials are to the investigation, they are not as important as Gbajabiamila.
“The man taken into custody mentioned the Chief of Staff. So, why is he not part of those to field questions from the lawmakers?” he asked.
The House had constituted the panel amid growing public concern over alleged irregularities in the 2026 budget process, particularly the allocation of over a billion naira to an agency that the government claimed does not exist.
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