Reps Summon Ribadu, Bianca Over Alleged Fake Investment Council, Tighten Probe Into ₦1.3bn Budget Scandal
The House of Representatives Ad-hoc Committee investigating the controversial Presidential Foreign Investment Promotion Council (PFIPC) has summoned the National Security Adviser (NSA), Mallam Nuhu Ribadu, and the Minister of Foreign Affairs, Bianca Odumegwu-Ojukwu, as it intensifies its probe into the alleged allocation of ₦1.3 billion to the council in the 2026 Appropriation Act.
The summons was issued during the committee’s ongoing public hearing following testimony from the Permanent Secretary of the Ministry of Foreign Affairs, Ambassador Dunoma Umar Ahmed, who disclosed that the ministry had reported the activities of the controversial council to the Office of the National Security Adviser after discovering irregularities in documents presented by its self-acclaimed Director-General, Prince Adeniyi Adeyemi Matthew.
According to the Permanent Secretary, the ministry never recognised the PFIPC as a legitimate government institution. He explained that the organisation had approached the ministry on several occasions seeking official endorsement and collaboration for an international investment summit, but investigations revealed that the council had no legal status within the Federal Government.
Chairman of the Ad-hoc Committee, Hon. Yusuf Gagdi, said the appearance of the National Security Adviser is necessary to explain what actions were taken after his office was alerted to the activities of the unrecognised council in 2025. The committee also insisted that Minister Bianca Odumegwu-Ojukwu must personally appear before lawmakers to clarify issues arising from her ministry’s submissions and provide further insight into the interactions between the ministry and the controversial body.
The committee is investigating how the PFIPC allegedly operated within government circles despite repeated claims by key federal institutions that it was never created by any law, executive order or presidential approval. Lawmakers are particularly concerned about how the council reportedly secured office space, interacted with government agencies and was allocated over ₦1.3 billion in the 2026 federal budget.
President Bola Ahmed Tinubu has already directed the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the activities of the PFIPC, describing it as a fictitious organisation with no legal basis. The President ordered a comprehensive investigation into the alleged forgery of official documents, false claims of presidential appointments, the opening of bank accounts in the name of the council and the role of any public officials or private individuals who may have facilitated its operations.
Meanwhile, Hon. Gagdi has issued a final warning to all ministries, departments and agencies (MDAs) that have either failed to honour previous invitations or appeared without the requested records. He directed them to appear before the committee with all relevant documents, warning that the House would invoke its constitutional powers under Sections 88 and 89 of the 1999 Constitution (as amended) against any agency or official that refuses to comply.
The committee maintained that its investigation is aimed at establishing the full circumstances surrounding the alleged operation of the PFIPC, identifying those responsible for its recognition and funding, and strengthening safeguards to prevent similar abuses of Nigeria’s public institutions and budgetary process in the future.