The presidential candidate of the African Democratic Congress (ADC) for the 2027 election, Atiku Abubakar, has dismissed claims linking the alleged Presidential Foreign Investment Promotion Council (PFIPC) to the administration of former President Muhammadu Buhari.

The controversy surrounding the PFIPC has sparked nationwide debate following allegations that the agency operated for about two years under its self-proclaimed Director-General, Prince Adeniyi Adeyemi, despite questions over its legal status.

Some members of the All Progressives Congress (APC) and supporters of President Bola Tinubu have claimed the agency was established during Buhari’s administration.

However, in a statement issued by his media aide, Paul Ibe, Atiku said the claim was false, explaining that the Buhari administration established the Presidential Economic Advisory Council (PEAC) in September 2019, chaired by renowned economist Dr. Doyin Salami.

Ibe argued that the PFIPC was instead a product of the current administration, describing it as evidence of governance failures under President Tinubu.

According to the statement, the alleged operation of the agency and its ability to interact with top government institutions, including the Office of the Secretary to the Government of the Federation, the Chief of Staff, the Ministry of Finance, the Central Bank of Nigeria, the National Assembly, anti-graft agencies and security services, raised serious questions about oversight and accountability.

“The buck stops on the table of Emilokan,” the statement said, adding that President Tinubu should take responsibility for addressing the controversy rather than allowing what it described as attempts to shift blame to the previous administration.