Abuja — The Budget Office of the Federation (BOF) has declared that not a single kobo of the ₦1.302 billion appropriated for the embattled Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PEAC/PFIPC) was released or spent, citing Nigeria’s strict expenditure control mechanisms.
In a statement issued on Friday by its Assistant Director of Information and Public Relations, Afolabi Falulu Olajuwon, the BOF emphasised that while the National Assembly included the allocation in the 2026 Appropriation Act, all necessary preconditions for spending were never satisfied.
“Appropriation by Parliament does not automatically authorise spending,” the office stated. It explained that public funds can only be disbursed following Financial Clearance, lawful recruitment, payroll enrolment, treasury warranting, cash backing, and relevant procurement approvals.
According to the BOF, none of these requirements were met for the PEAC/PFIPC. No Financial Clearance was issued due to outstanding regulatory issues, including the absence of confirmation from the National Salaries, Incomes and Wages Commission on the council’s staffing and remuneration structure.
“There was therefore no Financial Clearance. There was no lawful recruitment. There was no payroll enrolment. There was no salary payment,” the statement read.
The office noted that although the council had proposed ₦3.85 billion for personnel costs, the BOF independently reviewed and scaled it down to ₦802.98 million using approved government parameters. A ₦200 million overhead allocation stalled after doubts arose over the body’s legal status, while the ₦300 million capital vote did not progress to procurement stage.
The BOF said it proactively wrote to the Ministry of Finance and the Office of the Accountant-General of the Federation to block any payment instruments related to the council.
“The law did not recover money after it had gone. It prevented the money from going,” the office asserted, describing the case as proof of the robustness of Nigeria’s public finance safeguards.
The PEAC/PFIPC controversy broke earlier this month after the Presidency described the Presidential Foreign Intervention Promotion Council as a fictitious entity lacking any legal basis, despite its appearance in the 2026 budget.
At the heart of the scandal is Adeniyi Adeyemi Matthew, who allegedly presented himself as the Director-General of the council and claimed presidential backing. The Presidency has distanced itself from the body, stating it was never established by President Bola Tinubu or any official instrument. The matter is under investigation by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
President Tinubu directed the ICPC to probe the affair within 30 days, while the House of Representatives set up an ad hoc committee to investigate how the entity secured a budgetary allocation. The Federal Government has since filed criminal charges against Adeyemi over allegations of forgery and false representation.
The scandal has also touched senior officials, including Chief of Staff to the President Femi Gbajabiamila, who voluntarily honoured an ICPC invitation for questioning. Gbajabiamila has denied any involvement and initiated legal action against Adeyemi.
The BOF’s latest statement forms part of the evidence being submitted to the House committee, reinforcing that although funds were appropriated on paper, Nigeria’s multi-layered controls ensured zero disbursement. The office pledged continued cooperation with ongoing investigations.
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