Budget Office confirms no PEAC/PFIPC funds spent

The Budget Office of the Federation has repeatedly asserted that although the National Assembly approved funds for the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PEAC/PFIPC), not a single kobo was spent because required legal and administrative conditions were never met. It stressed that an appropriation is not cash release and that no payroll, recruitment, or procurement approvals were ever completed, with financial clearance and relevant warrants withheld by the Finance Ministry and the Accountant-General’s office. The office highlighted that the personnel, overhead, and capital provisions never matured into payments or procurement, and that the chain of approvals to move funds into expenditure was never opened. The testimony comes amid ongoing controversy, including allegations of a fake director-general for the agency and social-media circulation of his photos with diplomats. Officials said they would continue to cooperate with the House committee by providing all necessary records to support the position. The consistent message across statements is that PEAC/PFIPC funds were not legally released or spent and that the situation exposed the separation of public-finance powers among multiple institutions.