Nigeria's Budget Office Says No Funds Released to Disputed PFIPC

The Budget Office of the Federation, led by Director‑General Tanimu Yakubu, told a House of Representatives committee that the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PFIPC) received a N1.3 billion allocation in the 2026 federal budget but none of the money was ever released. Yakubu said the agency failed to meet the statutory requirements for financial clearance, recruitment and procurement, stating “not one kobo” of the personnel, overhead or capital provisions was drawn.

The office traced PFIPC’s origin to the Presidential Economic Advisory Council created under former President Muhammadu Buhari in 2019. It rejected the council’s N3.85 billion request for personnel costs, independently calculating a lower figure of N802.98 million. The controversy has led to an ICPC investigation and the arrest of self‑styled director‑general Adeniyi Adeyemi, while the presidency continues to label the body a “fake agency.”