Reps Committee Summons NSA Over Phantom Investment Council

The House of Representatives Ad Hoc Committee is investigating the activities of the Presidential Foreign Investment Promotion Council (PFIPC) and has summoned National Security Adviser Nuhu Ribadu and Minister of Foreign Affairs Bianca Odumegwu-Ojukwu to explain their actions regarding the council, which has been labeled 'phantom.' The committee expressed disappointment over the absence of representatives from some ministries, including the Minister of Finance, Taiwo Oyedele. Allegations arose from Prince Adeniyi Adeyemi, the purported Director General of the PFIPC, who claimed to have paid N400 million to Chief of Staff Femi Gbajabiamila to secure his appointment and alleged that Gbajabiamila demanded 48% of the agency’s N27.3 billion grant.

Gbajabiamila has denied these claims and filed a N15 billion defamation suit. The committee is also examining the inclusion of over N1.3 billion for the PFIPC in the 2026 budget and the legitimacy of Adeyemi's employment approvals.

The Federal Ministry of Foreign Affairs, represented by Permanent Secretary Dunoma Umar Ahmed, stated that it has never recognized the PFIPC and declined Adeyemi's requests for collaboration due to discrepancies in his documents.