Reps Investigate ₦1.3bn Fraud Claims Against Agency

The House of Representatives has established an ad hoc committee to investigate allegations of fraud related to the Presidential Foreign Investment Promotion Council, which is claimed to have presented a ₦1.3 billion budget provision in the 2026 appropriations framework. The committee, chaired by Navy Yusuf Gagdi of the APC from Plateau, aims to determine the legitimacy of the council and whether it has compromised the government budgetary process.

The council's director general, Adeyemi Adeniyi, is expected to stand trial for his role in the alleged fraud, which includes claims of forgery and impersonation. The House noted that the council has no valid legal foundation, as no agency has been lawfully established under Nigerian law.

The investigation follows a motion adopted by the House, emphasizing the need to trace the alleged budget provisions and ensure accountability in public expenditure, as outlined in the Fiscal Responsibility Act of 2007 and the Nigerian Constitution.