Speaker of the House of Representatives, Abbas Tajudeen, has inaugurated an ad hoc committee to probe the alleged establishment of the Presidential Foreign Investment Promotion Council (PFIPC) without a valid legal basis.
Speaking at the inauguration in Abuja on Monday, Tajudeen said that the subject before the committee had generated considerable public interest.
According to him, for weeks now, discussions surrounding PFIPC have dominated media reports, public commentary and policy debates.
He said that questions had been raised about its legal status, institutional mandate, operational framework, relationship with existing agencies and, importantly, its appearance within the Federal Budget Framework despite widespread uncertainty regarding its establishment.
“These questions deserve clear, factual and authoritative answers. The House of Representatives has therefore not constituted this committee to validate speculation or amplify controversy; neither is this a political exercise. Our objective is simply to establish the facts.
“Democracy functions best when facts prevail over rumours, evidence over conjecture and accountability over opacity.
“Where legitimate public questions exist, parliament has both the authority and the obligation to seek answers in an open, fair and transparent manner,” he said.
Tajudeen, therefore, stated that the committee’s assignment should be guided by clear terms of reference.
“First, it should determine the legal basis, if any, for the establishment and operation of the Presidential Foreign Investment Promotion Council.
“Second, it should investigate the circumstances surrounding the creation of the council, including the processes through which it came into existence and whether those processes complied with the constitution and extant laws.
“Third, it should examine the mandate, powers, governance structure, sources of funding, operational activities and institutional relationships of the council with existing statutory agencies responsible for investment promotion, economic planning and public finance.
“Fourth, it should investigate the circumstances under which the council found its way into the Federal Budget Framework, identify the relevant approvals, authorisations and budgetary processes involved and determine whether due process was followed.
“Fifth, it should assess whether there has been any duplication of statutory functions with already established government institutions and evaluate the implications for public administration, fiscal responsibility and institutional efficiency.
“Sixth, it should receive memoranda and testimonies from all relevant ministries, departments and agencies, constitutional bodies, experts, civil society organisations and members of the public whose evidence may assist the committee in arriving at informed conclusions,” he stated.
Part of the committee’s terms of reference, the Speaker said, was also to make recommendations to the House on any legislative, administrative or institutional reforms necessary to strengthen transparency, eliminate ambiguity, prevent duplication of functions, safeguard public resources and reinforce accountability in the establishment and funding of public institutions.
According to him, the inquiry is not about personalities but about institutions and the integrity of public administration.
“It is sacrosanct that every public institution derives its authority from law and exercises its responsibilities within the limits prescribed by law,” he said.
Tajudeen urged all public officials and witnesses to approach the investigation in good faith, saying that the committee could only succeed if every participant placed honesty above expediency, evidence above emotion and national interest above partisan considerations.
“This House expects the truth, not rehearsed scripts or defensive posturing.
“Nigerians deserve candour. They deserve explanations that withstand scrutiny. They deserve to know, with absolute certainty, that their public institutions operate within the law.
“I therefore encourage everyone appearing before this committee to cooperate fully, provide complete and truthful information and assist the committee in discharging its constitutional mandate,” he said.