Reps Issue 48-Hour Ultimatum to MDAs Over Probe into Alleged Fake Investment Body

The House of Representatives has intensified its investigation into the controversial Presidential Foreign Investment Promotion Council, issuing a strict 48-hour ultimatum to defaulting Ministries, Departments, and Agencies to appear before its investigative panel. The probe follows allegations that the council operated as a government institution despite lacking legal foundation, raising critical questions about how it gained recognition in official records, including the 2025 Appropriation Act.

Chairman of the House Ad-hoc Committee, Representative Yusuf Gagdi, warned that failure to comply by Thursday would compel the panel to deploy constitutional and statutory powers to enforce compliance and pursue legal sanctions. He described the failure of invited agencies to appear as an affront to the legislature’s oversight authority vested under Sections 88 and 89 of the 1999 Constitution, emphasizing that the investigation aims to protect public administration integrity.

The development comes alongside several significant turns in the ongoing inquiry. The committee has insisted on the personal appearance of the Minister of Foreign Affairs, Bianca Odumegwu-Ojukwu, despite a representative attending the latest session. The ministry previously stated that neither it nor the Office of the National Security Adviser recognized the council or its alleged Director-General, Prince Adeniyi Adeyemi. Meanwhile, officials from the Central Bank of Nigeria informed lawmakers that accounts linked to the body were opened following directives from the Office of the Accountant-General of the Federation, though the accounts currently hold zero balances and show no financial transactions.

Adding to the complexity of the case, Senior Advocate of Nigeria, Femi Falana, has withdrawn from representing Adeyemi in criminal proceedings involving allegations of forgery, impersonation, and conspiracy. Reports indicate the withdrawal followed Adeyemi’s decision to grant a social media interview against legal advice and his statement that he would not appear for a scheduled July 27 court arraignment.

In a related development, activist Omoyele Sowore has called on the Independent Corrupt Practices and Other Related Offences Commission to release full video recordings of its interrogation of the President’s Chief of Staff, Femi Gbajabiamila. The commission confirmed that Gbajabiamila voluntarily answered questions at its headquarters regarding the council before departing, denying reports that he had been arrested.