The Central Bank of Nigeria (CBN) has disclosed that it opened two domiciliary accounts for the controversial Presidential Foreign Intervention Promotion Council (PFIPC), but said the accounts were never activated or used for any transactions.
The disclosure comes amid an ongoing House of Representatives investigation into the purported Presidential Foreign Intervention Promotion Council (PFIPC), a fake agency allegedly operated by Adeniyi Adeyemi, who claimed to have been appointed Director-General by the President’s Chief of Staff, Femi Gbajabiamila.
Gbajabiamila has denied the allegation and filed a suit against Adeyemi, who was arrested in Osun State on July 14. The Presidency has also accused Adeyemi of forging his appointment letter and using fraudulent documents in the operation of the alleged agency.
Speaking before the House of Representatives ad hoc Committee investigating the scandal yesterday, the CBN’s Director of Banking Services, Abdullahi Hamisu, said the apex bank opened the accounts after receiving a directive from the Office of the Accountant-General of the Federation (OAGF).
According to him, the mandate, dated July 29, 2025, instructed the CBN to open two domiciliary accounts, a US dollar account and a pound sterling account, for the PFIPC.
Hamisu, however, said the accounts remained dormant because no authorised signatories were presented and no further instructions were received to activate them.
“Like I said, the accounts have never been operated. There have not been any remittances into those accounts or foreign exchange allocations to the council. The accounts have maintained a zero balance from inception to date and have never recorded any inflow or outflow,” he said.
He explained that after opening the accounts, the CBN notified the OAGF in line with standard procedure but received no correspondence identifying the officials authorised to operate them.
The Office of the Accountant-General of the Federation had earlier maintained that although an application was made to open the accounts, the process was not completed because the required documentation was not submitted.