The Budget Office of the Federation has told the House of Representatives that none of the funds appropriated for the controversial Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PEAC/PFIPC) was released or spent.
Appearing before the House ad hoc committee investigating the establishment and budgetary provisions of the council, Director-General of the Budget Office, Tanimu Yakubu, said the agency never met the statutory requirements needed for the release and utilisation of public funds.
Yakubu stated that although the National Assembly approved budgetary allocations for personnel, overhead, and capital expenditure, none of the provisions progressed to the implementation stage.
“Our conclusion is clear. Not one kobo of the personnel allocation could lawfully have been withdrawn, and none was withdrawn. The overhead allocation never reached the stage of lawful cash release, while the capital provision never advanced to procurement or expenditure because the necessary conditions for spending were never fulfilled,” he said.
He explained that the Budget Office withheld financial clearance, no recruitment or payroll was approved, and both the Federal Ministry of Finance and the Office of the Accountant-General of the Federation were directed to suspend all payment processes.
According to him, there was no personnel expenditure to recover because no funds were ever disbursed. He added that the Budget Office would continue to provide the House committee with all relevant documents to support its position.
The controversy surrounding the PFIPC began after Adeniyi Adeyemi publicly presented himself as the agency’s Director-General, appearing alongside diplomats and prominent Nigerians and operating from an office reportedly located within the Federal Secretariat in Abuja.
The Presidency, however, distanced itself from the agency, insisting that it does not exist and accusing Adeyemi of presenting a forged appointment letter. Adeyemi rejected the allegation, maintaining that his appointment was legitimate. He also alleged that the President’s Chief of Staff, Femi Gbajabiamila, received money through an intermediary to facilitate his appointment. Gbajabiamila has denied the allegation and has instituted legal action. Adeyemi was subsequently arrested in Osun State.
Also appearing before the committee, the Central Bank of Nigeria (CBN) confirmed that it opened two bank accounts for the disputed agency following instructions from the Office of the Accountant-General of the Federation. However, the CBN said the accounts remained inactive, with no deposits, remittances, foreign exchange allocations, or authorised signatories.
Similarly, the Head of the Civil Service of the Federation, Didi Walson-Jack, informed lawmakers that her office neither deployed personnel to the PFIPC nor allocated office space to it at the Federal Secretariat, contrary to public speculation.
The House committee continues its investigation into the disputed agency and the ₦1.3 billion allocated to it in the 2026 Appropriation Act. Meanwhile, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) has invited Gbajabiamila for questioning as part of the investigation ordered by President Bola Tinubu.
