The controversy surrounding the inclusion of a non-existent federal agency in Nigeria’s 2026 budget is set to enter a new phase as Speaker of the House of Representatives, Tajudeen Abbas, inaugurates an ad hoc committee to investigate the scandal that has triggered widespread public outrage and renewed concerns about transparency in the nation’s budgeting process.
The committee was established following a resolution of the House of Representatives and has been tasked with uncovering how a sum of approximately N1.32 billion was allocated to the Presidential Foreign Investment Promotion Council, an agency that had never been legally created or recognised by the Federal Government. Lawmakers are expected to determine those responsible for the controversial budget insertion and recommend measures to prevent similar occurrences in the future.
The panel, chaired by Plateau lawmaker Yusuf Gagdi, will also conduct a public hearing involving Ministries, Departments and Agencies, civil society organisations, professional bodies, development partners, the media and other stakeholders. The investigation is expected to examine the circumstances that allowed the fictitious agency to receive budgetary provisions despite lacking any legal foundation...READ THE FULL ARTICLE HERE .
The scandal first came to national attention after the arrest of Adeyemi Adeniyi, who allegedly presented himself as the Director General of the Presidential Foreign Investment Promotion Council and was accused of orchestrating the inclusion of the agency in the 2026 Appropriation Act. Investigators are examining claims that the agency secured office space and financial allocations despite not existing in law, raising serious questions about possible institutional failures and collusion within government circles.
Adding to the controversy are allegations made by Adeniyi, who reportedly claimed that he paid N100 million through intermediaries to facilitate the establishment of the agency. The allegations have been firmly denied by both the Presidency and the Office of the Chief of Staff to the President, Femi Gbajabiamila, who have rejected any involvement in the matter.
However, the exclusion of the Chief of Staff from the list of witnesses invited to appear before the committee has generated criticism from some observers, who argue that the investigation must be comprehensive and free from political influence if it is to restore public confidence. Calls have continued for all individuals connected to the allegations to cooperate fully with investigators.
The outcome of the House probe is expected to play a significant role in determining accountability for one of the most controversial budget scandals in recent years. As lawmakers begin public hearings, many Nigerians will be watching closely to see whether the investigation leads to concrete reforms, criminal prosecutions where necessary and stronger safeguards to protect the integrity of the country’s budgeting process.
