Nigeria’s House of Representatives is investigating the Presidential Foreign Investment Promotion Council (PFIPC) following claims that the agency is “fake” and that it received budget provisions it should not have. In separate reporting, former Secretary to the Government of the Federation Babachir Lawal raises questions about the legal basis for PFIPC’s funding. Speaking on Arise Television’s “Prime Time” on Monday, Lawal argues that funds cannot be appropriated to an entity without a proper legal foundation, and he asks how budget allocations were made if the agency does not exist. He also describes what he calls an “institutional compromise and a big racket” and calls for stronger scrutiny or a judicial inquiry.
The PFIPC controversy intensified after its Director-General, Adeniyi Adeyemi, alleged that President Bola Tinubu’s Chief of Staff, Femi Gbajabiamila, received ₦400 million through a proxy and demanded an additional ₦200 million to secure an appointment. The presidency has denied those allegations, stating that Gbajabiamila has no authority to issue appointments or write letters. Reported figures cited by critics include an alleged ₦1.3 billion budget claim connected to PFIPC, which lawmakers are now examining.
