Fresh Trouble For PFIPC As House Of Reps Opens Probe Into Funding, Legal Backing

The House of Representatives has inaugurated an ad hoc committee to investigate the legal foundation, operations and funding of the Presidential Foreign Investment Promotion Council (PFIPC).....KINDLY READ THE FULL STORY HERE▶

The panel has also been mandated to examine how the council was incorporated into the Federal Government’s budget framework.

Speaking during the inauguration in Abuja on Monday, Speaker Tajudeen Abbas said the probe was intended to uncover the facts surrounding the PFIPC’s establishment, mandate and activities, stressing that the exercise was not politically motivated.

“The House of Representatives has not constituted this committee to validate speculation or amplify controversy. Neither is this a political exercise. Our objective is simply to establish the facts,” Abbas said.

He explained that the investigation was prompted by growing public concerns over the council’s legal status, institutional mandate and operational structure, as well as questions about its relationship with existing government agencies responsible for investment promotion.

According to the Speaker, the National Assembly has a constitutional responsibility to ensure transparency, accountability and good governance through effective oversight.

Abbas directed the committee to determine whether the PFIPC was lawfully established and whether all constitutional and statutory procedures were followed in setting it up.

The panel will also scrutinise the council’s mandate, governance structure, funding sources and operational activities, while examining whether its functions duplicate those of existing government institutions.

In addition, lawmakers tasked the committee with investigating how the PFIPC found its way into the Federal Government’s budget and whether all due budgetary processes were followed before public funds were allocated to the council.

The Speaker further instructed the committee to recommend any legislative, administrative or institutional reforms necessary to strengthen fiscal discipline, transparency and accountability.

Abbas Calls For Full Cooperation

Abbas urged ministries, departments and agencies (MDAs), constitutional bodies, civil society organisations, experts and other stakeholders to cooperate fully with the investigation by providing all relevant documents and evidence.

He also charged members of the committee to conduct the probe fairly, impartially and in strict compliance with the Constitution and the rule of law.

Responding, the committee chairman, Yusuf Gagdi, assured the House that the investigation would be thorough, objective and professional.

He said the panel would carefully examine the circumstances surrounding the PFIPC’s establishment and operations to determine whether all legal and constitutional requirements were met.

Gagdi added that all relevant stakeholders would be invited to present their positions before the committee submits its findings and recommendations to the House.

He pledged that every individual and institution connected to the investigation would receive a fair hearing, emphasizing that the proceedings would be guided by transparency, due process and the principles of natural justice.

Following its inauguration, the committee immediately commenced its inaugural sitting and is expected to begin receiving memoranda and testimonies from stakeholders as part of the investigation.