Budget Office Blocks N1.3 Billion for Disputed Council

The Budget Office of the Federation informed a House of Representatives ad hoc committee that none of the N1.3 billion appropriated for the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PEAC/PFIPC) in the 2026 Appropriation Act was spent. Director-General Tanimu Yakubu testified that statutory conditions for releasing personnel, overhead, and capital funds were never met, and financial clearance was withheld because regulatory requirements were incomplete.

According to Yakubu, the N802.9 million personnel provision remained a figure in the budget, the N200 million overhead provision was blocked in June 2026 after doubts arose regarding the council's legal status, and the N300 million capital provision never reached the procurement stage. The Central Bank of Nigeria confirmed that two accounts opened for the council remained inactive with zero inflows, while the Office of the Head of the Civil Service denied allocating office space or personnel to the entity.

The controversy centers on Akeem Adeniyi Adeyemi, who posed as the council's Director-General. While the presidency disavows the agency's existence, Adeyemi alleged that President Bola Tinubu's Chief of Staff, Femi Gbajabiamila, solicited N600 million to secure his appointment. Gbajabiamila denied these charges and initiated legal action. Adeyemi is currently in custody on charges of forgery. Following a directive from President Tinubu, the Independent Corrupt Practices and Other Related Offences Commission is investigating the matter.