PFIPC Under Investigation As Reps Demand Answers

The House of Representatives has inaugurated an ad hoc committee to investigate the legal foundation, funding structure and operations of the Presidential Foreign Investment Promotion Council (PFIPC).

According to Ireporter Online, the committee will also examine the circumstances surrounding the council’s inclusion in the Federal Government’s budget framework and determine whether the required legal and administrative procedures were followed.

Speaking during the inauguration of the panel in Abuja on Monday, Speaker of the House of Representatives, Tajudeen Abbas, said the investigation was established to uncover facts surrounding the creation, mandate and activities of the PFIPC.

Abbas dismissed claims that the probe was politically motivated or intended to fuel existing controversies surrounding the council, stressing that the House’s objective was to ensure clarity, transparency and accountability.

The Speaker explained that the decision to set up the committee followed public concerns over the PFIPC’s legal status, institutional responsibilities and its relationship with existing government agencies responsible for investment promotion.

He noted that the National Assembly has a constitutional responsibility to conduct oversight in a way that strengthens good governance and ensures proper accountability in public institutions.

The committee has been mandated to determine whether the PFIPC was legally created, examine its governing structure, funding sources and operational activities, and assess whether its functions overlap with those of existing statutory agencies.

The panel will also investigate how the council was captured in the Federal Government’s budget and verify whether proper budgetary procedures were followed before funds were allocated.

The Speaker directed the committee to recommend any necessary legislative, administrative or institutional reforms that would improve transparency, fiscal responsibility and accountability.

Abbas urged ministries, departments, agencies, civil society organisations, experts and other relevant stakeholders to cooperate with the investigation by providing necessary documents and information.

He also instructed members of the committee to carry out their duties fairly, objectively and in line with constitutional provisions and the rule of law.

The Chairman of the committee, Yusuf Gagdi, assured lawmakers that the probe would be conducted professionally and without bias. He said all relevant stakeholders would be engaged and given the opportunity to present their views before the committee submits its report and recommendations.

Gagdi added that the investigation would be guided by transparency, natural justice and due process, as the committee begins receiving submissions and testimonies from concerned parties.