Prince Adeyemi
The Budget Office of the Federation (BOF) has explained that the Presidential Foreign Intervention Promotion Council (PFIPC), which the Federal Government declared a fake agency and is currently under investigation by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), originated during the administration of former President Muhammadu Buhari.
The Director-General of the Budget Office, Tanimu Yakubu, made the clarification while appearing before the House of Representatives in Abuja on Friday, July 24.
Yakubu said the PFIPC evolved from the Presidential Economic Advisory Council (PEAC), which was inaugurated by former President Muhammadu Buhari on October 9, 2019.
He explained that the agency was included in the 2026 budget because, before the budget preparation commenced, relevant government institutions had already issued official instruments recognising the council.
According to him, the Office of the Accountant-General of the Federation assigned an administrative code to the PFIPC, while the Office of the Head of the Civil Service of the Federation approved its authorised establishment and recruitment waiver. He added that the applicable public service salary structure was also already in place.
Yakubu maintained that none of those approvals originated from the Budget Office, stressing that the agency merely received the official instruments and carried out its statutory responsibility of determining their fiscal implications.
He further disclosed that although the council submitted a personnel estimate of ₦3.85 billion for the 2026 fiscal year, the Budget Office independently reviewed the request and reduced it to ₦802.978 million after applying the authorised establishment, approved recruitment waiver, public service salary structure and the existing costing methodology.
The Budget Office chief said the reduced figure represented its independent fiscal assessment and not a concession to the council. He added that the amount was eventually included in the Executive Budget proposal and later appropriated.
Yakubu, however, said the council did not receive the appropriated personnel funds because its promoter, Prince Adeyemi Adeniyi, failed to obtain Financial Clearance, a mandatory requirement confirming that all fiscal and regulatory conditions had been satisfied.
The controversy surrounding the PFIPC became public on June 11, 2026, after the Chief of Staff to the President, Femi Gbajabiamila, declared the council a fake agency and petitioned law enforcement authorities.
However, at a press conference on June 26, the PFIPC Director-General, Prince Adeniyi Adeyemi, rejected the Presidency’s position and alleged that Gbajabiamila received ₦400 million through a proxy and demanded an additional ₦200 million to facilitate his appointment.
Gbajabiamila denied the allegations and subsequently filed a ₦15 billion defamation suit against Adeyemi.
Adeyemi is currently in police custody over the PFIPC controversy and allegations of forgery.
