Foreign Affairs Ministry Disowns Presidential Investment Council

The Ministry of Foreign Affairs of Nigeria has disowned the Presidential Foreign Investment Promotion Council (PFIPC) amid an investigation by an ad hoc committee chaired by Yusuf Gagdi. The committee was informed by Ambassador Dunoma Umar that the ministry had declined three requests from PFIPC's director general, Adeniyi Adeyemi, for collaboration to host the World Investment Summit in Nigeria on June 26, 2025, August 5, 2025, and June 5, 2026.

The ministry cited inconsistencies and discrepancies in the correspondence submitted by Adeyemi, raising concerns about the legitimacy of the council. Furthermore, the ministry stated that it had no official record of PFIPC's activities and did not recognize its operations.

The committee also noted that the ministry had not facilitated any foreign investor interactions on behalf of PFIPC. The National Security Adviser, Nuhu Ribadu, is expected to appear before the committee to clarify actions taken regarding the council's legitimacy.