Fake Agency Scandal: Reps Inaugurate Probe Panel Over ₦1.32bn Budget Allocation
The Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas, is set to inaugurate an ad hoc committee to investigate the controversial inclusion of the unestablished Presidential Foreign Investment Promotion Council (PFIPC) in the 2026 Appropriation Act.
The panel, chaired by Hon. Yusuf Gagdi, was constituted following a resolution of the House to unravel how budgetary provisions amounting to about ₦1.32 billion were allocated to an agency that has no legal backing. The inauguration and public hearing, scheduled to hold at the National Assembly Complex in Abuja, are in line with Sections 88 and 89 of the 1999 Constitution, which empower the National Assembly to investigate matters relating to public institutions and the management of public funds.
The investigation follows the arrest of Adeyemi Adeniyi, who allegedly posed as the Director-General of the PFIPC and is accused of orchestrating the agency’s inclusion in the 2026 budget despite its non-existence. The controversy deepened after Adeniyi reportedly claimed he paid ₦100 million through intermediaries to the President’s Chief of Staff, Femi Gbajabiamila, to facilitate the establishment of the agency. However, both the Presidency and the Office of the Chief of Staff have strongly denied the allegation.
According to the committee’s invitation, the public hearing will bring together key government officials, heads of relevant ministries, departments and agencies, anti-corruption agencies, civil society organisations, professional bodies, development partners, the media and members of the public. The committee is also inviting memoranda from stakeholders to assist its investigation.
Among those expected to appear before the panel are the Ministers of Budget and Economic Planning, Finance, Industry, Trade and Investment, Justice, and Foreign Affairs. Also invited are the Governor of the Central Bank of Nigeria, the Chairmen of the Economic and Financial Crimes Commission, the Independent Corrupt Practices and Other Related Offences Commission, the Fiscal Responsibility Commission, the Auditor-General for the Federation, the Head of the Civil Service of the Federation, the Secretary to the Government of the Federation, the Nigerian Investment Promotion Commission, the Director-General of the Department of State Services and the Inspector-General of Police.
The committee is expected to determine how the PFIPC found its way into the 2026 budget despite lacking legal status and trace the allocation from the executive proposal through legislative consideration to its eventual approval, with a view to identifying where the controversial provision was inserted.
However, the committee has come under criticism over its decision not to invite either Adeyemi Adeniyi or the President’s Chief of Staff, Femi Gbajabiamila, both considered central figures in the controversy. A member of the panel, who spoke anonymously, expressed concern that their omission could undermine the credibility of the investigation and create the impression that efforts were being made to shield certain individuals.
Public affairs analyst Jackson Ojo also faulted the decision, arguing that inviting Gbajabiamila would provide him with an opportunity to publicly clear his name. According to him, since the allegation directly mentioned the Chief of Staff, excluding him from the initial list of witnesses could weaken public confidence in the transparency and integrity of the probe.
The House of Representatives had constituted the ad hoc committee amid growing public concern over alleged irregularities in the 2026 budget process, particularly the allocation of more than ₦1 billion to an agency the Federal Government insists was never legally established.