House of Representatives Launches Probe Into ‘Fake’ Agency’s N1.3 Billion Budget Allocation

The House of Representatives has set up an ad-hoc committee to investigate how a non-existent entity, the Presidential Foreign Investment Promotion Council (PFIPC), managed to secure a budget allocation exceeding N1.3 billion in the 2026 Appropriation framework.

The investigation follows growing concerns over the legitimacy of the council, which authorities have labeled a fraudulent organization. Despite claims of being a federal agency, government records indicate that no such body was ever legally established.

During Wednesday’s plenary, lawmakers expressed alarm at how an organization without a verifiable legal foundation could bypass official oversight to be included in the national budget. The committee, led by Yusuf Gagdi, has been tasked with tracing the history of this budget entry to determine where the breach occurred and whether existing government processes were compromised.

The investigation will examine the role of the Ministry of Budget and Economic Planning and the Budget Office of the Federation in the verification of new entities. The House has also directed the Accountant-General of the Federation to ensure that no funds are released to the council pending the outcome of the inquiry.

In addition to auditing the current budget, the committee is mandated to review all government agencies listed in the 2025 and 2026 appropriation acts to verify their legal standing.

The Director-General of the purported council, Adeyemi Adeniyi, is currently facing separate criminal charges related to the impersonation of government officials. Lawmakers emphasized that this legislative probe is designed to protect the integrity of the national budget and address potential systemic vulnerabilities, rather than interfere with ongoing judicial proceedings.

The committee is expected to submit its findings and recommendations to the House within four weeks.