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PFIPC : Reps To Summon Budget Minister Over N1.3b Allocation

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The House of Representatives on Wednesday resolved to invite the Minister of Budget and Economic Planning and the Director-General of the Budget Office of the Federation to explain how the N1.3 billion allocation of the ‘fictitious’ Presidential Foreign Investment Promotion Council (PFIPC) found its way into the 2026 budget.

 

The resolution followed the adoption of a motion of urgent public importance moved by Hon. Yusuf Gagdi (APC, Plateau), who described the scandal as a serious threat to the credibility of Nigeria’s appropriation process and public financial management.

This is coming after President Bola Ahmed Tinubu’s directive to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the activities of the controversial council and submit a report within 30 days. ExecutiveBranch

The Senate had distanced itself from the PFIPC, its purported Director-General, Prince Adeniyi Adeyemi, and the council’s N1.3 billion allocation in the budget, maintaining that the scandal is an executive matter it would not dabble into, except it receives a petition to that effect. It further declined on Wednesday to investigate the matter.

The Chief of Staff to the President, Femi Gbajabiamila, had issued a disclaimer, dismissing the existence of the PFIPC, but Adeyemi countered, describing it as “a cloud of public misrepresentation, institutional denial and a deliberate attempt to silence legitimate questions that concern matters of national interest.”

Consequently, the Presidency, in a July 1 statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, tagged Adeyemi a “con artist” and stated that the police had filed a criminal charge against him.

The statement was, however, silent on the inclusion of the disputed council in the budget and an alleged sum of N400 million Adeyemi claimed to have paid Gbajabiamila by proxy to facilitate his appointment. A further scrutiny of the statement raised more critical questions bordering on public accountability, transparency and institutional integrity.

Findings further revealed that Adeyemi got approvals for the employment of 300 staff members and an office space at the Federal Secretariat, Abuja, and opened accounts with the Central Bank of Nigeria (CBN).

But the Office of the Accountant General of the Federation (OAGF) insisted that the disputed council had no account with the apex bank, contradicting the Presidency’s statement that Adeyemi used fake documents and misled the OAGF to fraudulently open a CBN account.

After Adeyemi went into hiding, police raided his family residence in Ogbomoso, Oyo State, on Monday and arrested his father, who was later released after questioning.

Moving the motion for the probe of the controversial council at the plenary on Wednesday, Gagdi recalled that it operated from the Federal Secretariat Complex in Abuja and engaged with several government institutions.

He told lawmakers that the organisation is already the subject of criminal proceedings before the Federal High Court in Abuja, stressing that the House inquiry would be limited to the budgetary implications and institutional failures that enabled the phony council to gain official recognition.

According to him, the organisation relied on a document claiming it was established under “Chapter N2117 Laws of the Federation of Nigeria.”

He, however, said records of the National Assembly showed that no legislation establishing such a council had been enacted, adding that the closest existing law was the Nigerian Investment Promotion Commission (NIPC) Act.

Gagdi expressed concerns that more than N1.3 billion was reflected in the 2026 budget for the council, saying the development raised fundamental questions about the integrity of the budget preparation and approval process.

“The ease with which a single unestablished entity was processed through official channels suggests a systemic vulnerability rather than an isolated administrative lapse,” he said.

Following the adoption of the motion, the House resolved to constitute an ad hoc committee to trace how the budgetary provision found its way into the budget, from the executive proposal through legislative consideration.

Lawmakers also directed that all ministries, departments, agencies and government bodies contained in the 2025 and 2026 Appropriation Frameworks be verified against their respective legal instruments of establishment.

The House further requested the Office of the Accountant-General of the Federation to confirm that no public funds had been released and that no payment warrants would be issued in favour of the PFIPC pending the conclusion of the investigation.

It also mandated the Budget Office of the Federation to, henceforth, submit alongside every appropriation bill a comprehensive and certified list of all agencies proposed for funding, indicating the enabling law establishing each of them to prevent the inclusion of fictitious entities.

In his contribution, Deputy Speaker Benjamin Kalu, disclosed that he had personally received representatives of the organisation after his office was sent a letterhead bearing the Presidency’s insignia.

According to him, the correspondence, dated May 2, 2025, came from a body identifying itself as both the Presidential Economic Advisory Council (PEAC) and the Presidential Foreign Intervention Promotion Council.

Kalu said the letter carried a federal secretariat address, an official-looking government logo and a “. gov.ng” website, prompting his office to verify the organisation’s location before granting the delegation an audience.

He said although officials confirmed that the organisation operated from the stated office, the visitors abandoned the policy issues contained in their letter during the meeting and appeared more interested in taking photographs.

“This shows that having the Presidency on a letterhead is no longer sufficient proof that an agency is genuine,” the Deputy Speaker said, adding that the House must establish how the organisation secured office accommodation within the federal secretariat and gained access to senior government officials.

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Terrorists Using New Technologies To Expand Operations, FG Raises Alarm

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The Federal Government has raised alarm over the growing use of new technologies by terrorist groups in Africa, calling for stronger intelligence sharing and better funding to tackle the security threat.

The Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, raised the concern in a statement issued by the ministry on Friday, following her remarks at the opening of the Consultative Forum on Strengthening the Functional Performance of the African Union Peace and Security Architecture in Abuja.

Odumegwu-Ojukwu said armed groups were increasingly using new technologies in their operations and funding their activities through transnational organised crime and illicit financial flows.

She decried the growing wave of terrorism on the African continent, noting that armed groups were adopting new technologies to carry out their operations and using proceeds of transnational organised crime to finance their activities.

She called on African countries to take greater responsibility for addressing the continent’s security challenges amid growing terrorism, regional security threats and weaknesses in existing security frameworks.

Against the backdrop of growing regional security threats and pressures on multilateralism, the minister called for “a stronger, better funded and self-reliant African peace and security architecture” capable of addressing the continent’s evolving security challenges.

The minister urged African states to strengthen intelligence sharing, improve early warning systems and support African-led mediation efforts to prevent conflicts and respond to emerging threats.

She urged African states to strengthen the Continental Early Warning System, African mediatory initiatives and the African Peer Review Mechanism (APRM).

She also called for greater attention to local grievances, youth unemployment and community resilience, noting the need to address issues that could contribute to insecurity.

The minister underscored the importance of building enduring national peace infrastructures and enhancing intelligence sharing among African states to improve the continent’s response to security threats.

Odumegwu-Ojukwu stressed the importance of rehabilitation and reintegration programmes for people affected by terrorism and encouraged African countries to use the African Union Counter-Terrorism Centre to coordinate counter-terrorism efforts across the continent.

She stressed the need for increased support for rehabilitation and reintegration programmes and encouraged African countries to leverage the African Union Counter-Terrorism Centre (AUTC) for the coordination of continental counter-terrorism efforts.

She further called for predictable funding for African Union-led peace operations, stressing the need to strengthen the AU Peace Fund and complement it with international funding commitments, including support from the United Nations.

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El-Rufai Loses Case To Stop ICPC, EFCC From Freezing Accounts

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Former Governor of Kaduna State, Nasir El-Rufai, has failed to persuade the Federal High Court in Abuja to stop the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and other anti-graft agencies in the country from freezing his bank accounts.

In a ruling by Justice Joyce Abdulmalik, the court dismissed a suit filed by the former governor, who has been in detention, seeking an order restraining federal government agencies from moving against his assets.

The court held that the suit not only lacked merit but was speculative, as no reasonable cause of action was disclosed against the agencies the applicant listed as defendants.

Therefore, the Economic and Financial Crimes Commission (EFCC), the Department of State Services (DSS) and the Attorney General of the Federation (AGF) were struck out from the case.

In the suit he filed on February 24, El-Rufai prayed the court for an interim injunction directing the respondents to maintain the status quo ante regarding his assets.

According to him, the order was necessary to prevent him from being placed in a state of helplessness. He insisted that the severance pay he received upon completing his tenure as governor of Kaduna State between 2015 and 2023 could not reasonably be suspected to be proceeds of any unlawful activity.

He urged the court to declare that properties purchased from his severance pay were lawfully acquired.

The banks the applicant prayed the court to protect from the respondents included Zenith Bank Plc, Naira Account Number: 1007158671; Zenith Bank Plc, Domiciliary Account Number: 507 1511327; Guaranty Trust Bank (GTB) Plc, Account Number: 0023824978; Access Bank, Dollar Account Number: 1396386493; and Access Bank, Naira Account Number: 1396382103.

El-Rufai also sought a declaration that any attempt by the respondents to apply for, obtain or execute any interim or final forfeiture or freezing order, without first establishing a reasonable suspicion supported by credible evidence as required by relevant law, would amount to a breach of his rights.

He relied on Section 17(1) of the Advance Fee Fraud and Other Related Offences Act, 2006, and the Supreme Court decision in Melrose General Services Ltd v. EFCC (2024) SC/1519/2019, to pray the court to declare that, as a citizen of Nigeria, he is entitled to the presumption of innocence and the protection of his fundamental rights.

He argued that any action by the respondents seeking to circumvent his constitutionally guaranteed rights through ex parte applications that conceal material facts would amount to a breach of Section 36(5) of the Constitution and a violation of the principles of fair hearing.

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FG Working To Bring Down Inflation, Says Presidency

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The Federal Government is working to bring down inflation to single digits, Bayo Onanuga, Presidential spokesman, has said.

 

Onanuga said this while announcing additional measures that the government introduced to support Nigerians amid the global fuel crisis.

Earlier on Thursday, Minister of Finance, Taiwo Oyedele, announced that fuel would be sold at a discounted rate across NNPC filling stations for 30 days.

Although the minister made it clear that the move is not an attempt to reintroduce subsidy, many Nigerians, especially on social media, described it as an attempt to subsidize the product.

In his statement, Onanuga said, “The Nigerian National Petroleum Company (NNPC) agreed today to forgo its petrol retail profit margin and sell to Nigerians at cost to cushion the impact of global crude oil price shocks and volatility on vulnerable households.

“NNPC Retail, which already sells petrol at the lowest price in the market, will offer this new deal within the next 30 days. This means if NNPC’s landing cost is N1300, it will sell fuel to Nigerians, especially commercial vehicles, at the same price.

“The company’s discount gesture, backed by President Bola Ahmed Tinubu, was among the raft of measures the Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, announced today.

“Oyedele said he hoped other marketers would take a cue from the NNPC, as the sharp rise in crude and petrol prices is not expected to last long.

“Oyedele was emphatic that NNPC agreeing to sell at a discount must not be misinterpreted as the restoration of petrol subsidy, which ended on May 29, 2023.”

Onanuga added that “The Federal Government is also working on a comprehensive package of fiscal measures to bring inflation down to single digits sustainably in the near term.”

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