The Office of the Accountant General of the Federation says no Central Bank account was successfully opened for the Presidential Economic Advisory Council, also known as the Presidential Foreign Intervention Promotion Council, despite its allocation in the 2026 budget.
Director of Information and Public Relations at the office, Bawa Mokwa, said the account opening process was not completed because the proposed account signatories were never submitted.
He explained that without authorised signatories, the account could not be opened and no public funds were released to the council.
Mokwa added that although the council received a budget allocation in the 2026 Appropriation Act, implementation of the budget only began in July, and no payment can now be made into the proposed account.
He also disclosed that the account never received the required approval from the Accountant General of the Federation.
According to him, apart from personnel deployed from the Accountant General’s Office, no staff members were employed by the council, adding that the deployed officers will now serve as prosecution witnesses.
The controversial council received a ₦1.303 billion allocation in the 2026 budget, covering personnel, overhead and capital expenditure.
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