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Nigeria PFIPC scandal: budget office says funds not released

Updated 1 time since CLSTR started tracking revisions of this situation.

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2026-07-27 06:56 UTC → 2026-07-28 13:01 UTC · added ~~removed~~

The House of Representatives’ ad‑hoc committee probing the Presidential Foreign Investment Promotion Council (PFIPC) issued a final 48‑hour ultimatum to ministries that have not appeared, warning of constitutional and legal sanctions. The investigation follows a Federal High Court order to forfeit about ₦941.9 million linked to a ghost‑worker payroll scheme and the ICPC’s publication of 910 beneficiaries. Earlier, the Senate and House leadership were urged to withdraw the Nigeria Data Protection (Amendment) Bill 2026, which was said to threaten constitutional freedoms. The Budget Office of the Federation, led by Director‑General Tanimu Yakubu, told the committee that the ₦1.3 billion allocated to the PFIPC in the 2026 budget was never released because the agency failed to meet statutory requirements for financial clearance, recruitment and procurement. The office traced PFIPC’s origin to the Presidential Economic Advisory Council created in 2019 under former President Buhari and rejected a ₦3.85 billion request for personnel costs, calculating a lower figure of ₦802.98 million. Self‑styled director‑general Adeyemi Matthew Adeniyi continued to deny bribery or presidential appointments, while the presidency labelled the body a “fake agency.” The controversy has spurred an ICPC investigation and the arrest of Adeniyi Adeyemi, and senior advocate Femi Falana withdrew from representing him. On 24 July, the Budget Office reiterated that not a single kobo of the allocated funds had been drawn, confirming the PFIPC’s failure to satisfy clearance, recruitment and procurement conditions. Three days later, the House committee, chaired by Rep. Yusuf Gagdi, began hearings, questioning Accountant‑General Shamseldeen Ogunjimi and other officials about how the council obtained office space, a budget code and the ₦1.32 billion allocation despite its uncertain legal status. ~~The probe underscores concerns over public financial management and calls for stricter controls on agency registration and budgetary approvals.~~ On 25 July, the committee escalated by ordering Inspector‑General of Police Olatunji Disu to present Adeyemi Adeniyi, the self‑claimed Director‑General, within 48 hours ahead of a hearing.

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