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The Budget Office of the Federation has informed the House of Representatives that no money was released or spent from the ₦1.3 billion appropriated for the controversial Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PEAC/PFIPC). Appearing before the House ad hoc committee investigating the council, Budget Office Director-General Tanimu Yakubu said all statutory safeguards prevented the funds from being accessed despite the budgetary allocation.
Yakubu explained that the conditions required for the release of personnel, overhead and capital funds were never met. He said the Budget Office withheld financial clearance, no recruitment or payroll approval was granted, and both the Federal Ministry of Finance and the Office of the Accountant-General were instructed not to process any payments linked to the council. As a result, he stressed, “not one kobo” was lawfully drawn or spent.
The House committee is investigating how the council, which the Presidency has said is not a recognised government agency, appeared in the 2026 Appropriation Act with a ₦1.3 billion allocation. The probe follows allegations surrounding the council’s operations and the activities of its self-acclaimed Director-General, Adeniyi Adeyemi, while several government agencies continue to cooperate with lawmakers to determine how the disputed allocation entered the federal budget.
