Speaker of the House of Representatives, Tajudeen Abbas, is set to inaugurate an ad hoc committee on Monday to investigate how the Presidential Foreign Investment Promotion Council (PFIPC) an agency that has no legal backing was allocated ₦1.32 billion in the 2026 Appropriation Act.
The inauguration and public hearing will be held at the National Assembly Complex in Abuja under the powers granted to the legislature by Sections 88 and 89 of the 1999 Constitution (as amended), which empower lawmakers to investigate the management of public funds and the administration of government institutions.
The committee, chaired by Yusuf Gagdi, who represents Kanke/Kanam/Pankshin Federal Constituency of Plateau State, was constituted two weeks ago following a resolution of the House.
Its mandate is to determine how funds were 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 orchestrating the inclusion of the agency in the 2026 federal budget.
The controversy escalated after Adeniyi reportedly claimed he paid ₦100 million, through intermediaries, to the President’s Chief of Staff, Femi Gbajabiamila, to facilitate the creation of the agency. The allegation has been strongly denied by both the Presidency and the Office of the Chief of Staff.
According to an invitation signed by Gagdi, the hearing will bring together senior government officials, anti-corruption agencies, development partners, civil society organisations, professional bodies, the media and members of the public.
Those invited include the Ministers of Budget and Economic Planning, Finance, Industry, Trade and Investment, Justice, and Foreign Affairs.
Others expected to appear before the panel are the Governor of the Central Bank of Nigeria (CBN), the Chairmen of the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Auditor-General for the Federation, the Chairman of the Fiscal Responsibility Commission, the Head of the Civil Service of the Federation, the Secretary to the Government of the Federation, the Executive Secretary of the Nigerian Investment Promotion Commission (NIPC), the Director-General of the Department of State Services (DSS), and the Inspector-General of Police.
The committee also invited stakeholders, civil society groups and members of the public to submit memoranda relevant to its investigation.
Lawmakers are expected to establish how the PFIPC found its way into the 2026 budget despite lacking legal recognition and to trace the allocation from the executive’s original proposal through the legislative approval process to identify where it was inserted.
However, the committee has come under criticism for failing to invite Gbajabiamila and Adeniyi, two figures widely seen as central to the controversy.
A member of the committee, who spoke on condition of anonymity, questioned the omission, arguing that both men should have been among the first witnesses invited.
“From the invitation list, you can see that the two central figures Gbajabiamila and Adeyemi are missing. It creates the impression that there is an attempt to shield the Chief of Staff. That raises concerns about the credibility and impartiality of the investigation,” the lawmaker said.
Public affairs analyst Jackson Ojo also criticised the decision, warning that excluding the President’s Chief of Staff could undermine public confidence in the probe.
“The committee is starting on the wrong footing. The Chief of Staff should have been invited to clear his name. The suspect specifically mentioned him, so it is difficult to understand why he was left off the witness list,” Ojo said.
The House constituted the panel amid growing public outrage over alleged irregularities in the 2026 budget, particularly the allocation of more than ₦1 billion to an agency the government itself maintains does not legally exist.
