On Wednesday, July 8, 2026, the House of Representatives set up an ad hoc committee to investigate the legal status and funding of the controversial Presidential Foreign Investment Promotion Council (PFIPC), following its disputed inclusion in the 2026 federal budget.
The panel is tasked with questioning the Minister of Budget and Economic Planning, the Director-General of the Budget Office, and other key officials to clarify how the unrecognized body operates and receives public funds. The probe stems from an urgent motion sponsored by Rep. Yusuf Gagdi, who highlighted that over ₦1.3 billion was earmarked for the council in the 2026 Appropriation Act, a move lawmakers warned threatens the integrity of Nigeria’s budgetary process.
At the heart of the scandal is Adeniyi Adeyemi, who claims he was legally appointed as the PFIPC’s Director-General. The Presidency, however, denies the agency’s existence, with spokesperson Bayo Onanuga labeling Adeyemi an impostor. In response, Adeyemi alleged that Chief of Staff Femi Gbajabiamila extorted ₦400 million through a proxy and demanded ₦200 million more to secure his position. While Adeyemi has challenged President Bola Tinubu to form an independent panel to vet his claims, the House committee will also consult security and anti-corruption agencies to get to the bottom of the multi-billion naira dispute.
