No Funds Released for PEAC/PFIPC, Budget Office Confirms

Tanimu Yakubu, the Director-General of the Budget Office of the Federation, announced that no funds appropriated for the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PEAC/PFIPC) were released or spent. He clarified that while the National Assembly allocated funds in the 2026 Appropriation Act, necessary legal and administrative conditions for fund release were not fulfilled.

Yakubu emphasized that an appropriation does not authorize spending without processes such as Financial Clearance, lawful recruitment, payroll enrolment, Treasury warranting, cash backing, and procurement approvals. The Budget Office independently reduced the council's proposed personnel budget from ₦3.85 billion to ₦802.98 million.

No recruitment or payroll enrolment occurred due to the lack of Financial Clearance, which was withheld pending confirmation from the National Salaries, Incomes and Wages Commission. Additionally, allocations for overhead and capital expenses were never available for spending due to the absence of required approvals.

Yakubu stated that Nigeria’s public financial management system effectively prevented unauthorized expenditures.