The House of Representatives Ad Hoc Committee investigating the Presidential Foreign Investment Promotion Council (PFIPC) did not convene on Wednesday as originally planned. This cancellation has raised concerns regarding the timeline of the inquiry. The committee, led by Rep. Yusuf Gagdi, had previously scheduled the session for August 12 to continue its examination of the mysterious council, yet no official explanation was provided for the absence of the lawmakers.
The controversy stems from the PFIPC’s inclusion in the 2026 Appropriation Act, where it was allocated N1.3 billion despite lacking legal status or government authorization. The committee is tasked with determining how this entity infiltrated federal budget structures. Investigations have uncovered 29 allegedly forged documents linked to high-level government offices, including the State House and the Office of the Accountant-General of the Federation.
Shamseldeen Ogunjimi, the Accountant-General, confirmed that his office processed budget codes based on a letter falsely attributed to the State House. Similarly, officials from the State House testified that the Presidency had no hand in the council’s creation and disowned documents signed by non-existent officials. The Independent Corrupt Practices and Other Related Offences Commission (ICPC) concluded in its interim report that the PFIPC is a fraudulent entity and that documents presented by the supposed Director-General, Adeniyi Adeyemi, were forged.
While the committee has struggled to secure Adeyemi’s physical appearance due to ongoing criminal proceedings, the investigation continues to highlight significant failures in internal verification processes within government institutions. As the inquiry nears its conclusion, stakeholders are awaiting a new date for the committee to reconvene and finalize its recommendations.
