‘No kobo released’ – Budget Office breaks silence over spending on PFIPC
Budget Office Denies Funding for Controversial Economic Council
The Budget Office of the Federation has confirmed that no funds have been allocated for the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PEAC/PFIPC). This announcement comes amid ongoing scrutiny and controversy surrounding the agency.
Tanimu Yakubu, Director-General of the Budget Office, provided the clarification during a session with the House of Representatives ad hoc committee investigating the establishment and financial provisions for the PEAC/PFIPC.
Yakubu indicated that while the National Assembly had approved financial allocations for the council, the necessary statutory conditions for releasing or expending these funds were not met. “The conclusion is firm. Not one kobo of the personnel provision could lawfully have been drawn, and not one kobo was drawn,” he stated. He further explained that the overhead provision never transitioned into lawful cash release, and the capital provision did not lead to procurement or expenditure.
He noted that his office withheld financial clearance, preventing any recruitment or payroll approvals. Both the Federal Ministry of Finance and the Office of the Accountant-General were instructed to withhold all payment instruments.
Yakubu emphasized that the legal and administrative requirements for expenditure were not fulfilled, and he pledged continued cooperation with the House committee by providing all relevant documentation to support its investigation.
This clarification follows recent controversies surrounding the PFIPC, including claims made by Adeniyi Adeyemi, who had publicly identified as the Director-General of the agency. Adeyemi was seen in various social media posts alongside diplomats and prominent figures, and he reportedly operated from an office in the Federal Secretariat in Abuja.
The Presidency has responded by asserting that Adeyemi’s claims are unfounded and has filed charges against him. Despite this, Adeyemi maintains that his appointment is legitimate and alleges that Femi Gbajabiamila, Chief of Staff to the President, accepted payments through an intermediary for his position. Gbajabiamila has refuted these claims and has taken legal action, while Adeyemi was later arrested in Osun State.
