The House of Representatives has inaugurated an ad hoc committee to investigate the legal basis for the establishment and operations of the Presidential Foreign Investment Promotion Council (PFIPC), including the circumstances surrounding its inclusion in the Federal Government’s budget framework.
Speaking during the committee’s inauguration in Abuja on Monday, Speaker of the House of Representatives, Abbas Tajudeen, said the investigation is aimed at establishing the facts surrounding the council’s creation and activities, insisting that the exercise is neither politically motivated nor intended to fuel public controversy.
According to the Speaker, the decision to set up the committee followed growing public interest and concerns over the PFIPC’s legal status, institutional mandate, operational framework and relationship with existing government agencies responsible for investment promotion.
“The House of Representatives has not constituted this committee to validate speculation or amplify controversy. Neither is this a political exercise. Our objective is simply to establish the facts,” Abbas said.
He stressed that legislative oversight is a constitutional responsibility intended to promote transparency, accountability and good governance.
Abbas directed the committee to determine whether the Presidential Foreign Investment Promotion Council was established in accordance with the law and whether all constitutional and statutory procedures were followed in its creation and operations.
The committee is also expected to examine the council’s mandate, governance structure, funding sources, operational activities and relationship with existing statutory agencies involved in investment promotion.
In addition, lawmakers will investigate how the council was incorporated into the Federal Government’s budget framework and whether the required budgetary procedures were duly observed.
The Speaker further tasked the panel with assessing whether the council’s responsibilities overlap with those of existing government institutions and recommending any legislative, administrative or institutional reforms necessary to strengthen transparency, accountability and fiscal responsibility.
He called on ministries, departments and agencies, constitutional bodies, civil society organisations, experts and other stakeholders to cooperate with the committee by providing relevant documents and information to aid the investigation.
Abbas urged members of the panel to carry out their assignment with fairness, impartiality and strict adherence to the Constitution and the rule of law.
“I am a victim.”
– The deputy Speaker of House of Representatives, Rt. Hon. Benjamin Okezie Kalu today narrates how he met with Adeniyi Adeyemi, DG of the Fake Presidential Foreign Intervention Promotion Council. pic.twitter.com/YvTrb4p5l8
— Imran Muhammad (@Imranmuhdz) July 8, 2026
Responding on behalf of the committee, its chairman, Rep. Yusuf Adamu Gagdi, assured the House that the investigation would be conducted professionally, objectively and without prejudice.
Gagdi said the committee would examine the circumstances surrounding the establishment and operations of the PFIPC, determine whether due legal and constitutional procedures were followed, engage relevant stakeholders and submit its findings and recommendations to the House.
He also pledged that all individuals and institutions connected with the investigation would be given a fair hearing, stressing that the proceedings would be guided by the principles of natural justice, transparency and due process.
The committee commenced its inaugural sitting immediately after the inauguration and is expected to receive memoranda and testimonies from relevant stakeholders as part of its investigation.
