No Funds Released for PEAC/PFIPC, Budget Office Confirms

The Budget Office of the Federation (BOF) stated that no funds appropriated for the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PEAC/PFIPC) were released or spent due to Nigeria's expenditure control system. A media statement by Afolabi Falilu Olajuwon, Assistant Director and Head of Information and Public Relations at BOF, clarified that the issue was not about the National Assembly's appropriation but whether legal conditions for expenditure were met.

The BOF emphasized that an appropriation does not equate to expenditure and that public funds can only be spent after fulfilling conditions such as Financial Clearance and lawful recruitment. The council was included in the 2026 Budget, but its personnel estimate of ₦3.85 billion was disregarded in favor of an independent calculation of ₦802.98 million.

Financial Clearance was never issued, and no lawful recruitment or payroll enrolment occurred, leading to no personnel expenditure being recoverable.