The House of Representatives has constituted an ad hoc committee to investigate the legal foundation, operations and funding of the Presidential Foreign Investment Promotion Council (PFIPC), amid growing public scrutiny over the agency’s existence and activities.
The committee was inaugurated on Monday in Abuja by Speaker of the House, Tajudeen Abbas, who said the investigation is intended to establish the facts surrounding the council’s creation, legal backing and operational framework.
Abbas dismissed claims that the House was embarking on a politically driven exercise, stressing that lawmakers were simply carrying out their constitutional oversight responsibilities.
“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,” the Speaker said.
According to him, the decision to launch the inquiry followed widespread public interest in the PFIPC’s legal status, institutional mandate and mode of operation. He noted that concerns had also been raised about the council’s relationship with government agencies already responsible for investment promotion in the country.
The Speaker said the committee would determine whether the PFIPC was lawfully established and whether all constitutional and statutory requirements were followed in its creation. He added that the lawmakers would also examine the agency’s governance structure, sources of funding, operational activities and whether its functions duplicate those of existing government institutions.
Abbas further directed the panel to investigate how the PFIPC found its way into the Federal Government’s budget and ascertain whether due budgetary procedures were followed before funds were allocated to it.
He urged the committee to recommend any legislative, administrative or institutional reforms necessary to strengthen transparency, accountability and fiscal responsibility within public institutions.
Calling for broad participation in the exercise, Abbas appealed to ministries, departments and agencies, constitutional bodies, civil society organisations, experts and other relevant stakeholders to cooperate fully by providing documents and evidence that would aid the investigation.
He also charged members of the committee to conduct their assignment with fairness, impartiality and strict adherence to the Constitution and the rule of law.
Responding on behalf of the committee, Chairman Yusuf Gagdi assured the House that the investigation would be transparent, professional and objective.
“The committee will thoroughly examine the circumstances surrounding the establishment and operations of the PFIPC and determine whether the necessary legal and constitutional procedures were observed,” Gagdi said.
He added that all individuals and institutions connected to the matter would be given an opportunity to present their positions before the committee submits its report and recommendations to the House.
Gagdi emphasized that the panel’s work would be guided by the principles of natural justice, due process and transparency.
The committee commenced its inaugural sitting shortly after the inauguration and is expected to receive memoranda and hear testimonies from relevant stakeholders as part of the investigation.
