Barring the minute changes, the House of Representatives’ Ad-hoc Committee investigating controversies surrounding the establishment and operations of the Presidential Foreign Investment Promotion Council (PFIPC) will on Thursday interrogate the National Security Adviser to the President, Mallam Nuhu Ribadu; Minister of Finance, Taiwo Oyedele; Minister of Justice and Attorney General for the Federation, Lateef Fagbemi and Accountant General of the Federation (AGF), Mr Babatunde Ogunjimi.
Other stakeholders expected to appear before the Committee chaired by Hon. Yusuf Gagdi include Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu; Economic Adviser to the President; Director General of Budget Office for the Federation, Tanimu Yakubu; Executive Secretary/CEO of Nigeria Investment Promotion Council, Aisha Rimi, as well as Secretariat of the Economic Council, among others.
They were invited to explain their roles on the inclusion of the phantom Council in the 2026 budget estimates presented by President Bola Tinubu to the joint session of the National Assembly as well as allocation of office.
Recall that the Ad-hoc Committee had on Tuesday underscored the need for the National Security Adviser to the President to give update on the steps taken to nip he scandal in the bid, in response to the red flag raised by Permanent Secretary of Federal Ministry of Foreign Affairs on the status of the self acclaimed Director General of Presidential Economic Advisory Council (PEAC) and the Presidential Foreign Investment Promotion Council (PFIPC), Prince Adeniyi Adeyemi who sought the Ministry’s endorsement and collaboration to organise a World Investment Summit in Nigeria in 2025 and 2026 respectively.
According to him, Prince Adeyemi approached the ministry on June 26, 2025, August 5, 2025, and June 5, 2026, identifying himself as the Director-General of both the Presidential Economic Advisory Council (PEAC) and the Presidential Foreign Investment Promotion Council (PFIPC).
The Permanent Secretary said the ministry rejected all three requests after conducting due diligence, citing inconsistencies in the correspondence submitted and concerns over the legitimacy of both the council and its purported leadership.
He disclosed that the ministry subsequently wrote to the Office of the National Security Adviser (ONSA) on October 16, 2025, requesting clarification on the status of the organisation and its alleged Director-General.
According to Ambassador Ahmed, the National Security Adviser’s Office replied on November 26, 2025, informing the ministry that enquiries conducted with the Office of the Secretary to the Government of the Federation (OSGF) and the Office of the Chief of Staff to the President established that Prince Adeniyi Adeyemi was unknown to any office of the Federal Government.
Ambassador Ahmed further informed lawmakers that at no time did the Ministry of Foreign Affairs participate in diplomatic engagements, bilateral or multilateral discussions, or facilitate interactions between the PFIPC and foreign governments, international organisations, diplomatic missions or prospective investors.
He added that no Memorandum of Understanding (MoU), treaty or investment agreement was negotiated or executed through the PFIPC, while no Nigerian mission abroad was instructed to recognise or engage with the council.
The Committee also mandated the IGP to provide the two persons arrested in connection with the approvals gotten from the OHCSF for participation in the budget process and waiver for the deployment of 300 personnel.
In the same vein, Secretary to the Government of the Federation (SGF), Senator George Akume, is also expected to give insight into how the office allotted to his office at Phase 3 of Federal Secretariat in 2023 by the office of the Head of Civil Service (oHCSF) was transferred to the Council.
Following the non-appearance of the Ministers on Tuesday, Hon. Gagdi, who issued a final warning, had threatened that the Committee would invoke relevant constitutional powers to compel the appearance of the stakeholders if they refused to appear in person to respond to inquiries on the scandal.