The Budget Office of the Federation informed the House of Representatives that no public funds have been allocated or disbursed to the Presidential Executive Advisory Council (PEAC) or the Presidential Fiscal Policy and Tax Reforms Implementation Committee (PFIPC), refuting any reports suggesting otherwise.
Officials from the Budget Office made this clarification while appearing before a House of Representatives committee tasked with investigating matters related to the activities and funding of government agencies and special committees.
According to the Budget Office, there has been no budgetary allocation or expenditure to benefit either PEAC or PFIPC from the federal treasury. The officials confirmed that their records show no funds have been released to these two entities.
This clarification was issued amid growing public scrutiny regarding the legal status, funding, and operational framework of certain presidential committees and advisory bodies. Legislators are aiming to determine whether proper procedures were followed in establishing, funding, and operating such entities.
Committee members questioned government officials about budgetary procedures and the source of funding for these bodies, emphasizing the importance of transparency and accountability in managing public resources.
The Budget Office reiterated that all expenditures from the federal treasury must adhere to the Appropriation Act and other applicable financial regulations, noting that their records did not show any payments made to PEAC or PFIPC.
The committee plans to continue its investigation and may invite more government officials and relevant stakeholders for further clarification on the issue.
This hearing is part of the National Assembly’s oversight responsibility to ensure that public funds are managed in accordance with the law and that government institutions remain accountable to Nigerians.
