The House of Representatives has resolved to summon the Minister of Budget and Economic Planning and the Director-General of the Budget Office of the Federation over the inclusion of a non-existent council in the 2026 budget. The decision followed a motion by Hon. Yusuf Gagdi (APC, Plateau), who raised concerns about the N1.3 billion allocation to the Presidential Foreign Investment Promotion Council (PFIPC), an entity not established by law. Gagdi noted that no legislation titled "Chapter N2117 Laws of the Federation of Nigeria" exists, the supposed legal basis for the council, and that the closest existing law is the Nigerian Investment Promotion Commission (NIPC) Act. He described the incident as evidence of systemic flaws in the budget process, not an isolated error.
President Bola Ahmed Tinubu has directed the ICPC to investigate the PFIPC and submit a report within 30 days. The Presidency, through Special Adviser Bayo Onanuga, dismissed the council as fraudulent and labelled its purported Director-General, Prince Adeniyi Adeyemi, a "con artist," confirming a criminal charge has been filed against him. Despite this, questions remain about how the council gained access to government facilities, including approval for 300 staff, an office in the Federal Secretariat, Abuja, and attempts to open accounts with the Central Bank of Nigeria. The Office of the Accountant General of the Federation denies the council had a valid account, contradicting claims in the Presidency's statement that fake documents were used to open one.
Lawmakers also ordered verification of all entities in the 2025 and 2026 budget frameworks against their legal establishment documents. The Senate, however, declined to investigate, with Senator Kawu Sumaila (APC, Kano South) objecting to a probe during plenary. Deputy Speaker Benjamin Kalu revealed he had met with PFIPC representatives who presented a letterhead bearing the Presidency's logo, but became more interested in taking photos than discussing policy. Police have raided Adeyemi's family home in Ogbomoso, Oyo State, arresting his father, who was later released after questioning.
The Presidency denies the PFIPC exists, yet the same office issued a statement detailing how its alleged head used fake documents to open a CBN account, inadvertently confirming some engagement with the entity. The House's probe into the N1.3 billion allocation will have to explain how a council with no legal backing passed through multiple layers of budget scrutiny. Nigerians named in the affair, including the Budget Minister and the Director-General of the Budget Office, now face questions about their oversight role. The contradiction between outright denial and detailed rebuttal weakens the official narrative.
Editorial note: AI-assisted opinion, not established fact. Full disclaimer →
