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    Binance Buys Back Tokens After $6.3bn Loss in History’s Biggest Heist Linked to North Korean Hackers

    Binance Buys Back Tokens After $6.3bn Loss in History’s Biggest Heist Linked to North Korean Hackers

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 SERAP Demands Probe Over ₦1.3bn Allocation to ‘Fictitious’ Presidential Council in 2026 Budget

The Daily Crucible by The Daily Crucible
July 5, 2026
in News
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 SERAP Demands Probe Over ₦1.3bn Allocation to ‘Fictitious’ Presidential Council in 2026 Budget

 

The Socio-Economic Rights and Accountability Project (SERAP) has called on the leadership of the National Assembly to immediately disclose documents relating to the approval of over ₦1.3 billion allocated to the Presidential Foreign Intervention Promotion Council (PFIPC)/Presidential Economic Advisory Council in the 2026 Appropriation Act, describing the matter as a serious test of accountability in Nigeria’s budget process.

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In a statement on Saturday, SERAP said it had written to Senate President, Godswill Akpabio, and Speaker of the House of Representatives, Tajudeen Abbas, demanding certified copies of all documents relating to the consideration and approval of the ₦1,302,978,784 allocation.

The organisation also urged the National Assembly to invoke its constitutional investigative powers under Sections 88 and 89 of the 1999 Constitution to determine how funds were appropriated to what it described as “a fictitious presidential council” and to identify those responsible for any irregularities.

According to SERAP, the lawmakers should also provide certified records identifying members of the National Assembly committees that considered the allocation, as well as the names and official designations of public officers or representatives who appeared before the committees to defend the budget proposal.

The rights group noted that while the 2026 Appropriation Act earmarked more than ₦1.3 billion for the Presidential Foreign Intervention Promotion Council (PFIPC)/Presidential Economic Advisory Council, the Presidency has publicly stated that the body does not exist and was never established by the Federal Government.

SERAP said the contradiction has raised serious concerns over the credibility of Nigeria’s appropriation process, legislative oversight, public financial management and accountability.

“The conflicting accounts raise serious concerns regarding the integrity of Nigeria’s appropriations process, legislative oversight, public financial management and accountability,” the organisation stated.

It further argued that the National Assembly has a constitutional duty to thoroughly scrutinise Executive budget proposals before approving public expenditure.

“Nobody has a more sacred obligation to obey the law than those who make the law,” SERAP said.

“The National Assembly ought to keep an eye on what the Executive is doing and to keep the Presidency and agencies of government in check, including before and during the appropriation process, by thoroughly scrutinising the Executive’s budget proposals before any authorisation.”

The organisation maintained that a transparent investigation into the disputed allocation would strengthen public confidence in the country’s budgeting process and reinforce accountability in the management of public funds.

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