The Office of the Accountant-General of the Federation (OAGF) has clarified that no account was successfully opened with the Central Bank of Nigeria (CBN) for the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PFIPC), despite provisions made for the body in the 2026 Appropriation Act.
The OAGF explained that although the PFIPC was captured in the 2026 national budget, no public funds have been released to the council because the process of opening an operational account with the CBN was not completed.
The clarification comes amid concerns and speculation over the council’s funding status following its inclusion in the federal budget.
According to the OAGF, the absence of a functional CBN account meant that no government disbursement could be made to the council, stressing that no taxpayer funds have been accessed or expended on behalf of the PFIPC.
The office reiterated its commitment to transparency, accountability, and strict adherence to public financial management procedures, noting that government funds can only be released to duly authorized accounts that comply with established regulations.
The OAGF urged the public to disregard any claims suggesting that funds had been disbursed to the PFIPC, maintaining that no financial transaction has taken place in respect of the council’s budgetary allocation.
