Abbas Inaugurates Panel Today to Probe 'Fake Agency' in 2026 Budget
By Victor Idajili
The Speaker of the House of Representatives, Tajudeen Abbas will today inaugurate an ad hoc committee to investigate how the unestablished Presidential Foreign Investment Promotion Council, PFIPC got ₦1.32 billion allocated to it in the 2026 Appropriation Act.
The inauguration and public hearing will hold at the National Assembly Complex, Abuja under Sections 88 and 89 of the 1999 Constitution, which empower the National Assembly to probe the administration of public institutions and management of public funds.
The committee, headed by Rep. Yusuf Gagdi representing Kanke/Kanam/Pankshin Federal Constituency in Plateau State, was set up two weeks ago during plenary presided over by Speaker Abbas.
Its mandate is to find out how budgetary provisions were made for PFIPC despite the agency not being legally established.
The probe was triggered by the arrest of Mr. Adeyemi Adeniyi, who allegedly paraded himself as the Director-General of PFIPC and is accused of lobbying for the agency’s inclusion in the 2026 budget.
The controversy escalated after Adeniyi reportedly claimed he paid _₦100 million_ through proxies to the Chief of Staff to the President, Femi Gbajabiamila to facilitate the agency’s creation.
Both the Presidency and the Office of the Chief of Staff have denied the allegation.
In an invitation signed by Gagdi, the committee said the hearing will involve key government officials, CSOs, professional bodies, development partners, the media and members of the public.
Those invited include:
Ministers Budget and Economic Planning, Finance, Industry Trade and Investment, Attorney-General and Justice, Foreign Affairs CBN Governor, EFCC Chairman, ICPC Chairman, Auditor-General, Chairman Fiscal Responsibility Commission
Head of Civil Service, SGF, NIPC CEO, DSS DG, Inspector-General of Police.
The committee also called for memoranda from interested stakeholders on issues within its terms of reference.
However, the panel’s decision not to invite Gbajabiamila or Adeniyi has raised questions.
A committee member who spoke on condition of anonymity faulted the omission:
“From the notice, you will see that the two central figures are not invited. I mean Gbajabiamila and Adeyemi. There is an obvious attempt to exempt Gbajabiamila, and that is an attempt by the committee to clear him. From the notice of invitation, there is already a bias.”
Public affairs analystJackson Ojo also criticized the move:
“The committee is starting on the wrong footing. They should have invited the Chief of Staff to clear his name.
As important as the invited government officials are to the investigation, they are not as important as Gbajabiamila. The man taken into custody mentioned the Chief of Staff. So, why is he not part of those to field questions from the lawmakers?”
