The Nigerian Guild of Investigative Journalists (NGIJ) has called on President Bola Ahmed Tinubu to immediately constitute an independent panel of inquiry to investigate the unfolding scandal surrounding the controversial Presidential Foreign Investment Promotion Council (PFIPC), insisting that the gravity of the allegations and the institutions reportedly involved make an ordinary investigation inadequate.
In a statement jointly signed by its National President, Mallam Abdulrahman Aliagan, and National Secretary, Rowland Olonishuwa, the Guild faulted the Presidency’s swift public exoneration of the Chief of Staff to the President by the President’s spokesman, Mr. Bayo Onanuga, describing it as premature and inconsistent with the principles of natural justice.
According to the Guild, declaring any public official innocent before the conclusion of an impartial investigation undermines public confidence in the process and creates the impression that the outcome has already been predetermined.
“The hasty exoneration of any public official before a comprehensive investigation has been concluded negates the principles of justice, fairness and good conscience.
Every Nigerian deserves to see that justice is not only done but is manifestly seen to have been done,” the statement said.
NGIJ said the controversy surrounding the controversial Presidential Foreign Investment Promotion Council (PFIPC) has become one of the most significant governance scandals in recent years, alleging that the sequence of events surrounding the Council points to a level of official backing that requires a truly independent investigation.
The Guild argued that several developments associated with the Council have raised serious questions that cannot be ignored.
According to the statement, available information indicates that an account was reportedly opened for the Council at the Central Bank of Nigeria (CBN), the controversial PFIPC was reportedly captured in the 2026 Appropriation Bill presented to the National Assembly, office accommodation was allocated to the Council within the Federal Secretariat Complex in Abuja, and more than 300 personnel, including eight directors, were reportedly recruited or sourced to work for the Council.
NGIJ noted that these developments, if established through investigation, suggest that the activities attributed to the Council went far beyond the actions of a few individuals and may have involved approvals or support from influential actors within government.
“The establishment of banking arrangements, budgetary provisions, office allocation, recruitment of hundreds of personnel and appointment of directors are not processes ordinarily executed without official authorisation and institutional support. These issues raise legitimate public interest questions that deserve thorough and independent scrutiny,” the Guild stated.
It added that the scale of the allegations has created widespread public concern and, if left unresolved, could erode confidence in Nigeria’s governance institutions and anti-corruption framework.
The Guild expressed reservations over allowing the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to solely investigate the matter, arguing that given the alleged involvement of powerful figures and the institutional implications of the case, a broader and more independent mechanism would inspire greater public confidence.
According to NGIJ, the investigation should be handled by an independent judicial panel comprising retired judicial officers, forensic auditors, representatives of relevant anti-corruption institutions, professional bodies and civil society organisations, with full powers to examine documents, invite witnesses and recommend appropriate actions based on its findings.
The Guild further urged the National Assembly to commence a public legislative inquiry into the establishment, funding, operations and legal status of the controversial Presidential Foreign Investment Promotion Council.
It maintained that no public official, irrespective of rank or political influence, should be insulated from investigation where credible allegations exist.
NGIJ stressed that the circumstances surrounding the controversial PFIPC have made the matter unprecedented and deserving of the highest level of independent scrutiny.
The Guild said only a transparent, credible and independent investigation can establish the true facts, identify any wrongdoing where it exists, protect innocent persons where appropriate, and restore public confidence in the administration’s commitment to accountability, transparency and the rule of law.
