No Kobo Spent On PFIPC Budget, Budget Office Tells Reps

No Kobo Spent on PFIPC Budget, Budget Office Tells Reps

The Federal Government has told the House of Representatives that no money has been spent from the budget allocated to the controversial Presidential Foreign Intervention Promotion Council PFIPC, following claims that the council’s accounts had not received any inflows or remittances. The clarification came during an investigation by lawmakers into the status of the PFIPC, which was allocated about ₦1.3 billion in the 2026 budget despite questions surrounding its establishment and operations. Officials from the budget and financial management authorities told the lawmakers that no funds had been released to the council. They said the organisation’s accounts had not recorded any transactions, meaning no public funds had been accessed or spent. The Central Bank of Nigeria CBN also informed the committee that accounts linked to the council were opened but remained inactive, with no deposits, withdrawals or foreign exchange allocations recorded.

The controversy surrounding the PFIPC began after questions were raised over its inclusion in the national budget and its claimed government status. The Presidency had previously distanced itself from the council, describing it as an unauthorised entity.

The House of Representatives set up an ad hoc committee to investigate how the council appeared in the budget and whether any government processes were followed in its creation. Lawmakers said the investigation is aimed at establishing the facts surrounding the allocation and ensuring accountability in the management of public funds.