Budget Office: No Part of ₦1.3bn PEAC/PFIPC Allocation Was Spent

The Budget Office says the ₦1.303 billion appropriated for the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PEAC/PFIPC) was never spent. It says an appropriation only authorises possible spending and does not automatically release public funds. According to the statement, the office independently reduced the council’s proposed personnel estimate from ₦3.85 billion to ₦802.98 million. However, Financial Clearance was not issued because required conditions, including confirmation of the staffing and remuneration framework, were incomplete after the 2026 budget received assent. The office says no staff were recruited or placed on payroll, so no part of the personnel allocation was paid. It also says the ₦200 million overhead allocation was blocked before warranting and cash backing, while the ₦300 million capital provision did not reach procurement approval. It maintains that the expenditure-control system prevented any money from leaving the Treasury.

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