The Budget Office of the Federation has told lawmakers that no public funds were released to the controversial Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PEAC/PFIPC).
It insists that all financial controls put in place by government institutions prevented any payment from being made.
Politics Nigeria reports that clarification was given on Friday by the Director-General of the Budget Office, Tanimu Yakubu, during an appearance before the House of Representatives ad hoc committee.
Yakubu explained that although provisions were made for the council in the 2026 Appropriation Act, the requirements needed before government funds could be accessed were never fulfilled.
According to him, no personnel costs, overhead expenses or capital allocations were released because the agency failed to satisfy the legal and administrative conditions necessary for expenditure.
He told the committee that the Budget Office did not grant financial clearance for the agency to recruit staff or place workers on the federal payroll.
“The conclusion is firm. Not one kobo of the personnel provision could lawfully have been drawn, and not one kobo was drawn. The overhead provision never matured into a lawful cash release.
“The capital provision never matured into procurement or expenditure. The conditions required for spending were not met and were not close to being met. There is therefore no personnel expenditure to recover. The money never moved because the controls held,” Yakubu said.
The Budget Office boss further disclosed that the Federal Ministry of Finance and the Office of the Accountant-General of the Federation were directed not to process any payment linked to the council.
He maintained that the personnel, overhead and capital allocations remained untouched because all relevant safeguards worked as expected.
Yakubu assured lawmakers that his office would continue to cooperate with the investigation and provide all documents requested by the committee.
The latest testimony comes amid growing scrutiny surrounding the PFIPC, an organisation that has become the subject of investigations by security agencies and the National Assembly.
The issue centres on Adeniyi Adeyemi, who for several months publicly presented himself as the Director-General of the council.
During that period, photographs showing him with diplomats, traditional rulers, government officials and prominent Nigerians circulated widely on social media.
The organisation also reportedly operated from an office within the Federal Secretariat in Abuja, raising questions about how it gained access to government facilities despite later being disowned by the Presidency.
The Presidency subsequently declared that the PFIPC was not a recognised government agency and announced legal action against Adeyemi. However, Adeyemi has continued to maintain that his appointment was valid.
He has repeatedly rejected allegations that he forged official documents and has challenged claims that the council was fictitious.
Meanwhile, the House of Representatives earlier this month widened its investigation into the PFIPC controversy after concerns emerged over the council’s reported ₦1.3 billion allocation in the 2026 budget.
Lawmakers inaugurated a special committee to trace how the allocation found its way into the appropriation framework and identify the officials involved at every stage of the budget process.
The committee is also examining allegations that forged documents were used to present the council as a legitimate federal agency.
The probe followed a series of revelations surrounding Adeyemi’s activities and his claims regarding the existence of the council.
Defending himself in media appearances before his arrest, Adeyemi insisted that he was not involved in any fraudulent scheme.
“I’m not a con artist. Let the court decide on the matter,” he said.
Questioning claims that the council never existed, he added: “Let’s assume the agency does not exist. Would I have the temerity to be going all over the country meeting the heads of agencies and departments if they know that the agency does not exist or, as alleged, that I cooked everything?”
Despite those assertions, the Presidency has maintained that the PFIPC has no legal backing and was never created by the Tinubu administration. Government officials have also insisted that documents used to support the council’s operations were forged.
The Ministry of Foreign Affairs also informed lawmakers that it rejected several requests from the PFIPC seeking official collaboration.
It said they had reported concerns about the organisation to security authorities after discovering discrepancies in documents submitted by Adeyemi.