The controversy surrounding the alleged Presidential Foreign Investment Promotion Council (PFIPC) intensified on Wednesday as the Senate, for the second time in a week, declined calls to investigate the agency’s controversial budget allocation, while former Vice President Atiku Abubakar and the Presidency disagreed over how the matter should be probed.
The Nigeria Police Force on Tuesday arrested Adeniyi Adeyemi, who claims to be the Director-General of the PFIPC, following a bench warrant issued by a Federal High Court in Abuja after he failed to appear for arraignment on charges including alleged conspiracy, forgery and impersonation. President Bola Tinubu has directed the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the controversy and submit its findings within 30 days.
In a statement issued by his media aide, Phrank Shaibu, Atiku argued that the ICPC investigation would not inspire public confidence, insisting that an independent, bipartisan probe was necessary. He questioned how an agency the Presidency now describes as non-existent allegedly secured office space, diplomatic recognition, recruited personnel and received a N1.3 billion allocation in the 2026 budget.
The former vice president also raised concerns over an alleged N6.44 billion budget provision for Nigeria’s 2026 FIFA World Cup qualifying campaign despite the country’s elimination from the qualifiers before the budget was presented. He described the allocation as evidence of deeper flaws in the budgeting process and called on the National Assembly, civil society groups and the Nigerian Bar Association to demand a transparent investigation.
Responding, the Presidency dismissed Atiku’s call for a separate inquiry, maintaining that the ICPC investigation ordered by President Tinubu was sufficient. Presidential spokesman Temitope Ajayi questioned Atiku’s confidence in state institutions, saying the anti-graft agency was legally empowered to investigate corruption allegations.
Meanwhile, the Senate again rejected a motion by Senator Suleiman Kawu (Kano South) seeking an investigation into the controversial budget allocation. Senate President Godswill Akpabio ruled that the matter was already before the courts and under investigation by the ICPC, making a legislative probe unnecessary at this stage.
Akpabio said the National Assembly could not investigate a matter that was sub judice, adding that launching a separate inquiry while criminal proceedings were ongoing could prejudice the process.
Fresh details also emerged on Adeyemi’s arrest. Security sources said operatives of the Intelligence Response Team tracked him for about five days after he arrived in Osun State before arresting him near Ilesa. He was reportedly moved through Ibadan before being transferred to Abuja to face prosecution.
The PFIPC controversy has dominated public discourse in recent weeks following claims that the agency received a N1.3 billion allocation in the 2026 Appropriation Act despite the Presidency insisting that no such government agency exists. Adeyemi now faces criminal charges over alleged forgery, impersonation and obtaining money under false pretences, while investigations continue.
