The Budget Office Explains Why PEAC/PFIPC Funds Were Never Spent
By AfreecanImage News Desk The Budget Office of the Federation has released a detailed explanation addressing public concerns over the appropriation made for the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PEAC/PFIPC). According to the Office, although funds were appropriated by the National Assembly, none of the money was ever released or spent because the legal and financial conditions required for public expenditure were never fulfilled. Director-General of the Budget Office, Tanimu Yakubu , explained that an appropriation only authorises government to make budgetary provision for expenditure. It does not automatically translate into cash release, salary payments, procurement, or operational spending. Multiple statutory approvals and financial controls must first be completed before any public funds can legally leave the Treasury. Appropriation Did Not Become Expenditure The Budget Office stated that the PEAC/PFIPC was recog...