The House of Representatives ad hoc committee has started investigating the controversial Presidential Foreign Investment Promotion Council (PFIPC), which lawmakers claim was illegally included in the 2026 Appropriation Act with a ₦1.3 billion allocation.The committee, comprising 12 members, is examining the establishment process of the agency and allegations of financial misconduct.

The PFIPC saga involves claims by its self-proclaimed director-general, Adeniyi Adeyemi, that Chief of Staff Femi Gbajabiamila demanded a 48% kickback from the agency’s ₦27.3 billion grant, allegedly receiving ₦400 million through a proxy.

Gbajabiamila, however, denied any personal or official involvement, stating he had no relationship with the defendant and no knowledge of the alleged kickbacks.The probe highlights tensions over budgetary transparency and accountability, with lawmakers questioning the legality of the PFIPC’s existence.The committee’s investigation could have significant implications for public trust in government spending and the integrity of the budget process.The case also raises concerns about potential corruption and the misuse of public funds, prompting calls for stricter oversight mechanisms.As the probe unfolds, it underscores the challenges of ensuring transparency in high-level political and financial decisions.