Budget Office: No funds released for controversial PFIPC as Representatives intensify investigation

The Federation Budget Office has informed the House of Representatives that none of the funds allocated to the controversial Presidential Economic Advisory Council (PEAC)/Presidential Foreign Intervention Promotion Council (PFIPC) have ever been released or spent, despite the N1.3 billion budget provision in the 2026 Appropriations Act.

The Director General of the Budget Agency, Tanimu Yakubu, made this disclosure on Friday, while appearing before an ad hoc committee of the House of Representatives investigating the circumstances surrounding the formation of the council and the controversy over the allocation of funds in favor of the council.

While addressing lawmakers, Yakubu stated that although the National Assembly approved the allocation, it failed to fulfill the legal and administrative requirements necessary before public funds could be accessed or spent.

According to him, “The conclusion is unequivocal. Not a single kobo of personnel provisions can be legally withdrawn, and not a single kobo can be withdrawn. The overhead provisions never mature into a legitimate release of cash.

“Capital provisions are never due in the form of procurement or expenditure. The conditions necessary for spending are not met and are barely being met. Therefore, no personnel expenditure can be recovered. Money never moves because control remains in place.”

He explained that the Budget Office deliberately withheld necessary financial clearances, while no approval was given for the hiring or placement of staff on the federal payroll.

Yakubu further disclosed that the Federal Ministry of Finance and the Office of the Accountant General of the Federation were instructed not to process any payments related to the board, to ensure that allocations for personnel, overhead and capital projects never go beyond the budget stage.

He assured committee members that the Budget Office will continue to provide all necessary records and documentation to assist the ongoing legislative investigation.

The House of Representatives probe follows the controversy sparked by claims made by Adeniyi Adeyemi, who publicly identified himself as the Director General of the PFIPC despite the Presidency repeatedly insisting that the council was never established by the Federal Government.

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Adeyemi was reportedly seen at official meetings with diplomats and senior government officials and was allegedly operating from the Federal Secretariat office in Abuja.

Although the Presidency has disowned the council and initiated criminal proceedings against it, Adeyemi remains adamant that his appointment was legal. He also denied allegations of falsifying his appointment letter and accused Presidential Chief of Staff Femi Gbajabiamila of receiving money through intermediaries in connection with the appointment.

Gbajabiamila rejected the allegations and took legal action, while Adeyemi was later arrested in Osun State.

As part of its extensive investigation, the House committee has also taken evidence from the Central Bank of Nigeria (CBN), the Office of the Head of the Civil Service of the Federation and security agencies.

Earlier this week, the CBN confirmed that it opened two bank accounts for the disputed council following instructions from the Office of the Accountant General of the Federation but stressed that no accounts had been activated or funded.

Appearing before members of parliament, CBN Director of Banking Services, Abdullahi Hamisu, explained that no financial transactions took place because there was no authorized official appointed to operate the account.

He said, “As I said, these accounts have never been operated. As a result, there has been no allocation of foreign exchange to the council from the CBN. There has been no money sent to the two accounts. There has been no approval because there is no authority for those who operate the accounts.”

The head of the Federation’s Civil Service, Didi Walson-Jack, also distanced her office from the council’s activities, telling the committee that although requests for personnel deployment had been received, they had never been approved.

According to him, “Requests for posting of officers have been received and recorded for consideration. However, there has been no posting of officers by the Office of the Head of the Civil Service of the Federation to the council.”

He also denied reports that the PFIPC was given office accommodation within the Federal Secretariat.

“While there is speculation that the council is occupying office space in the Federal Secretariat Phase Three, we can state with certainty that the Office of the Head of the Civil Service of the Federation has not allocated any office space to the PFIPC,” he said.

This investigation also attracted the attention of the Independent Commission on Corrupt Practices and Other Related Offenses (ICPC), which initiated a separate investigation into the matter based on the directives of President Bola Tinubu. As part of its anti-corruption investigation, the commission has invited several people connected to the controversy, including the President’s Chief of Staff, Femi Gbajabiamila, for questioning.