Reps Investigate N1.3bn Fraudulent Agency Scandal

The House of Representatives has established an ad hoc committee to investigate a N1.3 billion budget allocation linked to the Presidential Foreign Investment Promotion Council, which is alleged to be a fraudulent entity. The committee, chaired by Navy Yusuf Gagdi of the APC from Plateau, aims to determine whether the government budget process has been compromised by this purported agency.

The director general, Adeyemi Adeniyi, is expected to stand trial soon on charges related to the creation of this fake agency, which allegedly received financial gratification facilitated by Femi Gbajabiamila, the Chief of Staff to the President. The House has adopted a motion to investigate the legitimacy of the council, which has been operating in the Federal Secretariat complex in Abuja without a valid legal foundation.

The federal government maintains that no such agency has been lawfully established. The investigation raises concerns about the integrity of Nigeria's budget preparation process and the potential existence of other fictitious entities within it.