Foreign Affairs Ministry Disowns PFIPC, Says It Rejected All Requests For Collaboration
The Federal Ministry of Foreign Affairs has distanced itself from the controversial Presidential Foreign Investment Promotion Council (PFIPC), declaring that it never recognised the body or had any official dealings with its alleged Director-General, Prince Adeniyi Adeyemi.
The ministry's Permanent Secretary, Ambassador Dunoma Umar Ahmed, disclosed this while representing the Minister of Foreign Affairs, Bianca Odumegwu-Ojukwu, before the House of Representatives Ad-Hoc Committee investigating the PFIPC at the National Assembly on Tuesday.
Ahmed revealed that Adeyemi approached the ministry on three occasions—June 26, 2025, August 5, 2025, and June 5, 2026—seeking endorsement and collaboration to organise a World Investment Summit in Nigeria.
According to him, the ministry rejected all the requests after carrying out due diligence, citing inconsistencies in the correspondence and doubts over the legitimacy of both the council and its leadership.
He further explained that the ministry sought clarification from the Office of the National Security Adviser (ONSA) on October 16, 2025, regarding Adeyemi's status. In a response dated November 26, 2025, the ONSA reportedly confirmed, after consultations with the Office of the Secretary to the Government of the Federation and the Office of the Chief of Staff to the President, that Adeyemi was unknown to any federal government office.
Ahmed told lawmakers that the ministry never participated in diplomatic engagements involving the PFIPC, facilitated foreign investors on its behalf, or signed any Memorandum of Understanding, treaty, or investment agreement through the council.
He added that Nigerian missions abroad were never directed to engage with the organisation because it was never recognised by the ministry.
He maintained that, aside from the correspondence already submitted to the committee, the ministry had no official records relating to the PFIPC and had never collaborated with the council or its alleged leadership.
Reacting to the testimony, Chairman of the Ad-Hoc Committee, Hon. Yusuf Gagdi, questioned why stronger action was not taken after the National Security Adviser reportedly established in November 2025 that the PFIPC was not a recognised government body.
The committee subsequently invited National Security Adviser Nuhu Ribadu to appear before it on Thursday to explain what actions his office took after confirming the council's status. It also directed the Minister of Foreign Affairs to personally appear before the panel to provide further clarification on the ministry's submissions.
The investigation follows earlier testimony from the Central Bank of Nigeria (CBN), which disclosed that it opened two foreign-currency domiciliary accounts—one in US dollars and another in British pounds—for the PFIPC following a mandate from the Office of the Accountant-General of the Federation.
However, the CBN said the accounts were never activated because no authorised signatories or mandate cards were provided. As a result, both accounts remain inactive with zero balances and have recorded no transactions or foreign exchange allocations.
The House committee said its investigation into the activities and legitimacy of the PFIPC will continue, with more witnesses expected to appear in the coming days.
The ministry's Permanent Secretary, Ambassador Dunoma Umar Ahmed, disclosed this while representing the Minister of Foreign Affairs, Bianca Odumegwu-Ojukwu, before the House of Representatives Ad-Hoc Committee investigating the PFIPC at the National Assembly on Tuesday.
Ahmed revealed that Adeyemi approached the ministry on three occasions—June 26, 2025, August 5, 2025, and June 5, 2026—seeking endorsement and collaboration to organise a World Investment Summit in Nigeria.
According to him, the ministry rejected all the requests after carrying out due diligence, citing inconsistencies in the correspondence and doubts over the legitimacy of both the council and its leadership.
He further explained that the ministry sought clarification from the Office of the National Security Adviser (ONSA) on October 16, 2025, regarding Adeyemi's status. In a response dated November 26, 2025, the ONSA reportedly confirmed, after consultations with the Office of the Secretary to the Government of the Federation and the Office of the Chief of Staff to the President, that Adeyemi was unknown to any federal government office.
Ahmed told lawmakers that the ministry never participated in diplomatic engagements involving the PFIPC, facilitated foreign investors on its behalf, or signed any Memorandum of Understanding, treaty, or investment agreement through the council.
He added that Nigerian missions abroad were never directed to engage with the organisation because it was never recognised by the ministry.
He maintained that, aside from the correspondence already submitted to the committee, the ministry had no official records relating to the PFIPC and had never collaborated with the council or its alleged leadership.
Reacting to the testimony, Chairman of the Ad-Hoc Committee, Hon. Yusuf Gagdi, questioned why stronger action was not taken after the National Security Adviser reportedly established in November 2025 that the PFIPC was not a recognised government body.
The committee subsequently invited National Security Adviser Nuhu Ribadu to appear before it on Thursday to explain what actions his office took after confirming the council's status. It also directed the Minister of Foreign Affairs to personally appear before the panel to provide further clarification on the ministry's submissions.
The investigation follows earlier testimony from the Central Bank of Nigeria (CBN), which disclosed that it opened two foreign-currency domiciliary accounts—one in US dollars and another in British pounds—for the PFIPC following a mandate from the Office of the Accountant-General of the Federation.
However, the CBN said the accounts were never activated because no authorised signatories or mandate cards were provided. As a result, both accounts remain inactive with zero balances and have recorded no transactions or foreign exchange allocations.
The House committee said its investigation into the activities and legitimacy of the PFIPC will continue, with more witnesses expected to appear in the coming days.
