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House of Reps Investigates N1.3bn Budget Leak to Non-Existent Agency
Photo: Businessday NG
2026-07-08 23:22   Politics   10

House of Reps Investigates N1.3bn Budget Leak to Non-Existent Agency

The House of Representatives has resolved to investigate the allocation of over N1.3 billion to the non-existent Presidential Foreign Intervention Promotion Council (PFIPC) in the 2026 Appropriation Act.

Lawmaker Yusuf Gagdi moved a motion highlighting serious flaws in Nigeria’s budget process, noting that the agency wasn’t established by any law or executive order.He argued the fake entity managed to secure funding through official channels, raising concerns about public financial management integrity.

The House will form an ad hoc committee to trace how the budget provision was inserted into the 2026 framework, scrutinize verification procedures for new agencies, and ensure all listed ministries comply with enabling laws.The investigation also aims to confirm no funds have been released to the alleged agency.

Gagdi cited constitutional sections and fiscal responsibility acts to back his motion, while Deputy Speaker Benjamin Kalu shared how he nearly engaged with the fake organization after receiving a letter bearing presidential insignia.The resolution underscores systemic vulnerabilities in Nigeria’s budgetary process.

Full reading at Businessday NG

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