Budget Office Confirms No Funds Released to PFIPC

The Budget Office of the Federation, represented by Director-General Tanimu Yakubu, informed lawmakers that no public funds were disbursed to the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PEAC/PFIPC). During a session with the House of Representatives ad hoc committee, Yakubu clarified that while the 2026 Appropriation Act included provisions for the council, it did not fulfill the necessary legal and administrative requirements to access these funds.

He stated that no personnel costs, overhead expenses, or capital allocations were released, as the agency did not meet the conditions for expenditure. Yakubu emphasized that the Federal Ministry of Finance and the Office of the Accountant-General were instructed not to process any payments related to the PFIPC.

The organization, which has been under investigation, was publicly represented by Adeniyi Adeyemi, who claimed to be its Director-General despite the Presidency disowning the agency and announcing legal action against him.