CBN has confirmed opening foreign currency accounts for fake agency amid PFIPC probe.
NewsOnline Nigeria reports that the Central Bank of Nigeria (CBN) has confirmed that it opened two foreign currency domiciliary accounts for the controversial Presidential Foreign Investment Promotion Council (PFIPC), even as President Bola Tinubu’s Chief of Staff, Femi Gbajabiamila, appeared before the Independent Corrupt Practices and Other Related Offences Commission (ICPC) over the ongoing investigation into the alleged fake agency.
The disclosure was made during a public hearing by the House of Representatives Ad-hoc Committee investigating the existence and operations of the PFIPC, chaired by Yusuf Gagdi.
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Representing the CBN, the Director of Banking Services, Hamisu Ibrahim, told lawmakers that the apex bank opened one US dollar and one British pound sterling domiciliary account following a formal mandate from the Office of the Accountant-General of the Federation (OAGF).
According to him, the CBN received the mandate on July 30, 2025, after a request dated July 29, 2025, authorising the opening of the accounts for the Presidential Economic Advisory Council/Presidential Foreign Investment Promotion Council.
Ibrahim explained that the bank carried out the necessary verification process before opening the accounts, noting that the CBN relies on mandates issued by the Accountant-General’s Office for such requests.
However, he revealed that the accounts were never activated.
“We did not receive any correspondence, signature or mandate cards. We were not introduced to the authorised signatories. Consequently, the accounts remain inactive with zero balance and have never recorded any inflow or outflow,” he said.
The CBN’s testimony contradicted an earlier submission by the Accountant-General of the Federation, Shamseldeen Ogunjimi, who had maintained that no bank accounts were opened in the PFIPC’s name.
Head of Civil Service Denies Allocating Office Space
Also appearing before the committee, the Head of the Civil Service of the Federation, Didi Walson-Jack, denied claims that her office allocated office accommodation to the PFIPC.
She stated that records showed the office space allegedly occupied by the council at the Federal Secretariat Phase III had been officially allocated to the Office of the Secretary to the Government of the Federation (OSGF) for its use and that of presidential bodies.
Walson-Jack disclosed, however, that during the 2025 Annual Manpower Budget Defence Exercise, the PFIPC submitted documents, including the appointment letter of its Director-General, through one Patricia Akhigbe, leading to the issuance of an authorised establishment for 314 positions and a recruitment waiver.
She clarified that her office neither deployed staff to the council nor approved any recruitment and disclosed that Akhigbe had since been invited for questioning by the police.
Reps Summon SGF, Ministers
Following the hearing, committee chairman Yusuf Gagdi directed the Secretary to the Government of the Federation (SGF), George Akume, alongside several top government officials, to appear before the panel on Thursday.
Those invited include the Inspector-General of Police, the Attorney-General of the Federation, the Ministers of Finance, Foreign Affairs, Budget and National Planning, the Accountant-General of the Federation, the Budget Office, the Revenue Mobilisation, Allocation and Fiscal Commission, and the National Salaries, Incomes and Wages Commission.
Gbajabiamila Testifies Before ICPC
Meanwhile, Femi Gbajabiamila honoured an invitation by the ICPC as part of President Bola Tinubu’s directive ordering a comprehensive investigation into the PFIPC controversy.
His lawyer, Jiti Ogunye, confirmed that the Chief of Staff appeared before investigators at the commission’s headquarters in Abuja, where he gave his testimony and answered questions relating to the probe before returning to his official duties.
Sources within the ICPC said Gbajabiamila voluntarily provided information to assist investigators.
N15bn Defamation Suit
Gbajabiamila’s appearance came hours after he filed a N15 billion defamation suit against the self-acclaimed PFIPC Director-General, Prince Adeniyi Adeyemi, over allegations that he demanded kickbacks from the agency’s purported take-off grant.
The Chief of Staff is seeking N10 billion in general damages, N5 billion in aggravated damages, N200 million in litigation costs, and a court order compelling Adeyemi to publish a public apology and retraction in five national newspapers and across his social media platforms.
Adeyemi, who was recently arrested over allegations of forgery, impersonation and conspiracy, has denied ever meeting Gbajabiamila personally and claimed he was unaware of how the PFIPC eventually secured a N1.3 billion allocation in the 2026 Appropriation Act.
The suspect is expected to reappear before the Federal High Court in Abuja on July 27 alongside two other suspects who remain at large.
