The House of Representatives, on Monday, commenced into the circumstances surrounding the appropriation of N1.3billion to Presidential Foreign Investment Promotion Council (PFIPC) in the 2026 budget.

The Speaker, Tajudeen Abbas, while inaugurating the probe panel, said the Ad-hoc is expected to probe the existence of and operation of the agency, which the Presidency has disowned, as well as its placement within the Federal Budget Framework.

The existence of the PFIPC has been a subject of controversy with the “Director General” Mathew Adeyemi and Femi Gbajabiamila, Chief of Staff to President Bola Tinubu trading words over the legality of the agency.

On July 8, the House adopted a motion to investigate how the “agency”, which the government said is not a legal entity got appropriation in the 2026 budget.

Abbas, who was represented by the House Leader, Julius Ihonbvere, said the probe is not about individuals, but about institutions and the integrity of public administration.

According to him, “For weeks now, discussions surrounding the Presidential Foreign Investment Promotion Council have dominated media reports, public commentary, and policy debates.

“Questions have been raised about its legal status, institutional mandate, operational framework, relationship with existing agencies, and, importantly, its appearance within the Federal Budget Framework despite widespread uncertainty regarding its establishment.

“These questions deserve clear, factual and authoritative answers.The House of Representatives has therefore not constituted this Committee to validate speculation or amplify controversy. Neither is this a political exercise. Our objective is simply to establish the facts.

“Democracy functions best when facts prevail over rumours, evidence over conjecture, and accountability over opacity. Where legitimate public questions exist, Parliament has both the authority and the obligation to seek answers in an open, fair and transparent manner.” (The Sun, excluding headline)

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