JUST IN: SENATE DECLINES FRESH PROBE INTO ₦1.3BN PFIPC BUDGET CONTROVERSY

SENATE DECLINES FRESH PROBE INTO ₦1.3BN PFIPC BUDGET CONTROVERSY


The Nigerian Senate has again rejected a request to launch an independent investigation into the controversy surrounding the purported Presidential Foreign Investment Promotion Council (PFIPC), citing ongoing court proceedings and an active investigation by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

The controversy has remained in the spotlight for more than two weeks following reports that a purported federal agency received a ₦1.3 billion allocation in the 2026 Appropriation Act, despite the Presidency maintaining that no such agency exists.

The renewed motion was sponsored by Senator Suleiman Abdulrahman Kawu, who represents Kano South Senatorial District. Kawu had previously sought a Senate investigation into how the allocation was included in the 2026 budget, but his request was rejected last week.

Ruling on the matter during Wednesday's plenary, Senate President Godswill Akpabio stated that the National Assembly could not investigate an issue that is already before a court of competent jurisdiction. He also noted that President Bola Ahmed Tinubu had directed the ICPC to investigate the controversy within 30 days, making a separate Senate probe unnecessary for now.

Akpabio said the matter had been overtaken by events because the suspect involved had already been charged to court, adding that any legislative inquiry at this stage could interfere with the ongoing legal process.

Despite the ruling, Senator Kawu maintained that the Senate has a constitutional responsibility to scrutinise the appropriation process and determine how the controversial budget allocation was approved. According to him, the legislative investigation is separate from the Executive's inquiry and is necessary to protect the integrity of the National Assembly's budget process.

The controversy centres on Prince Adeniyi Adeyemi, who claims to be the Director-General of the Presidential Foreign Investment Promotion Council. Adeyemi has been arrested by the police and is facing criminal charges over alleged impersonation and related offences.

He is also involved in a dispute with the Chief of Staff to the President, Femi Gbajabiamila, after alleging that the presidential aide demanded a ₦400 million bribe and sought 48 per cent of the agency's proposed ₦27.4 billion take-off grant. The Presidency has denied the allegations and reiterated that the Presidential Foreign Investment Promotion Council does not exist.

However, the 2026 Appropriation Act contains a ₦1.3 billion allocation for the purported agency, covering both recurrent and capital expenditures.

President Tinubu subsequently directed the ICPC to investigate the circumstances surrounding the budgetary provision, with the anti-graft agency expected to submit its findings within 30 days.

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