Lawmakers Investigate N1.3bn 'Ghost Agency' Budget Insertion

Lawmakers in Nigeria are probing a 'ghost agency' allegedly involved in a N1.3 billion budget insertion. The agency, identified as the Presidential Foreign Investment Promotion Council, reportedly operates without any legal establishment, raising serious questions about the integrity of the national budget process.

The investigation was initiated following a motion led by Yusuf Gagdi during a plenary session, which highlighted that no law exists to create the agency, despite its reported operations within the Federal Secretariat in Abuja. The House has established an ad hoc committee with a four-week mandate to trace the budget provisions and verify the agency's legitimacy.

The committee is expected to summon the Minister of Budget and Economic Planning and the Director General of the Budget Office to explain the procedures used to verify new agencies. The investigation aims to prevent the release of funds to disputed entities pending the conclusion of the inquiry, ensuring accountability in the budget process.