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Reps Probe ‘Fake’ Investment Council, Orders IGP to Produce DG

by Present Nigeria
July 27, 2026
in News
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Reps approves N774.77b NIMASA 2025 budget proposal
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The House of Representatives’ Ad-hoc Committee investigating the Presidential Foreign Investment Promotion Council (PFIPC) has directed the Inspector-General of Police, Olatunji Disu, to produce the Director-General of the agency, Adeniyi Adeyemi, within 48 hours.

The directive was issued on Monday during the committee’s resumed sitting as lawmakers intensified their probe into the activities of the council, which has been described by the committee as an alleged fake agency.

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The committee said Adeyemi’s appearance was necessary to enable lawmakers obtain firsthand information and advance their investigation into the circumstances surrounding the establishment and operations of the PFIPC.

Lawmakers directed that the embattled Director-General be produced before the panel on Wednesday to answer questions relating to the ongoing inquiry.

The committee has yet to disclose further details of the allegations against the agency, but maintained that Adeyemi’s testimony is critical to the investigation.

The existence of the PFIPC as an agency of the Federal Government has raised so much dust for some months now with the Director General of the agency raising corruption allegations against the Chief of staff to the President, Femi Gbajabiamila, over the budgetary allocation to the agency.

The dust raised by the controversy led to the President giving a directive to the Independent Corrupt and Other related offences Commission to probe the growing controversy and report to him within 30 days.

The Director General of the agency who was in hiding was arrested somewhere in Osun State after a bench warrant was issued against him by the Federal High Court in Abuja in a case of forgery and impersonation against him by the Police.

He is currently in Police custody.

Many observers and commentators including opposition figures have added their voice to the matter asking for a comprehensive investigation to unravel the circumstances surrounding the appearance of the agency described as fake in the budget with an office space in the federal secretariat and domiciliary account with the Central Bank of Nigeria.

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PRESENT, a credible online newspaper from the cell of Red Carpet Communications Limited, is published by an experienced and profoundly resourceful journalist, Yemi Olowolabi.
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