The House of Representatives has launched an investigation into the alleged allocation of public funds to the Presidential Foreign Investment Promotion Council (PFIPC), a body the Presidency maintains does not exist.
The decision followed the adoption of a motion of urgent public importance sponsored by the lawmaker representing Plateau State, Hon. Yusuf Gagdi, who called for a full investigation into reports that more than ₦1.3 billion was allocated to the purported agency in the 2026 Appropriation Act.
The House mandated an ad hoc committee to interface with the Minister of Budget and Economic Planning, the Director-General of the Budget Office, and other relevant government officials to determine how the agency allegedly found its way into the national budget.
Lawmakers described the development as a serious threat to the credibility of Nigeria’s budget process, stressing that anyone found culpable should be held accountable.
Deputy Speaker Benjamin Kalu, whose photograph with the self-acclaimed Director-General of the organisation has circulated online, also supported the investigation. He disclosed that his office had received official correspondence from the group, which presented itself as a Presidency-linked agency operating from the Federal Secretariat.
The House also resolved to receive briefings from relevant security and anti-corruption agencies while ensuring that its investigation does not interfere with ongoing court proceedings.
The controversy centres on Adeniyi Adeyemi, who claims he was lawfully appointed Director-General of the Presidential Foreign Intervention Promotion Council (PFIPC). He insists the organisation exists, citing its inclusion in the 2026 budget, and has called on President Bola Tinubu to establish an independent panel to investigate the matter.
Adeyemi also alleged that the President’s Chief of Staff, Femi Gbajabiamila, received ₦400 million through a proxy and later demanded an additional ₦200 million to facilitate his appointment.
The Presidency has strongly denied the allegations, describing Adeyemi as an impostor. According to the Presidency, he forged appointment documents, falsely claimed to be a government official, fraudulently opened a Central Bank of Nigeria (CBN) account and operated under a fictitious government agency.
Authorities have since filed an eight-count criminal charge against Adeyemi and two others, with the case scheduled for hearing on July 27.
Separately, Gbajabiamila has threatened a ₦10 billion defamation suit against Adeyemi, demanding the withdrawal of the allegations, a public apology, and the removal of all related publications within 72 hours.
