The House of Representatives has begun an investigation into the inclusion of a N1.3 billion allocation for the Presidential Foreign Investment Promotion Council (PFIPC) in the 2026 Appropriation Act amid lingering questions over the agency’s legal status.
Speaker Tajudeen Abbas inaugurated an ad hoc committee on Monday to examine the circumstances surrounding the funding of the council, which the Presidency has publicly denied is a recognised government agency.
Represented by House Leader Julius Ihonvbere, Abbas said the panel would determine whether the PFIPC legally exists, assess its operations, and establish how it found its way into the federal budget despite concerns over its legitimacy.
The controversy over the PFIPC intensified after a public dispute between its self-acclaimed Director-General, Mathew Adeyemi, and President Bola Tinubu’s Chief of Staff, Femi Gbajabiamila, over the agency’s legal standing.
On July 8, the House resolved to investigate the matter after adopting a motion questioning how an entity the Federal Government says lacks legal backing received a budgetary allocation in 2026.
Addressing members of the committee, Abbas stressed that the inquiry was aimed at protecting the integrity of public institutions rather than targeting individuals.
He noted that widespread public debate over the PFIPC had raised serious concerns about its legal foundation, operational mandate, relationship with existing government agencies and its inclusion in the national budget.
According to the Speaker, the House is committed to establishing the facts through a transparent process, insisting that the investigation is intended to promote accountability, strengthen public confidence in government institutions and ensure that public funds are appropriated only to legally established bodies.
