The Central Bank of Nigeria (CBN) revealed on Monday that it opened two foreign-currency domiciliary accounts in US dollars and British pounds sterling for the controversial and unestablished Presidential Foreign Investment Promotion Council (PFIPC).
The disclosure was made by Hamisu Ibrahim, Director of the CBN’s Banking Services Department, during a public hearing before the House of Representatives Ad-hoc Committee investigating the agency, chaired by Representative Yusuf Gagdi.
The apex bank explained that the accounts were generated on July 30, 2025, following a formal mandate received from the Office of the Accountant-General of the Federation.
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While the CBN verified the origin of the mandate, Ibrahim clarified that no authorising officers ever activated the accounts, leaving both balances at zero without any foreign exchange allocations or transactions.
The CBN’s testimony directly contradicted earlier statements by Accountant-General Shamseldeen Ogunjimi, who previously claimed no accounts were opened under the PFIPC's name.
"We received a mandate from the Office of the Accountant-General to authorise two accounts. However, no signature cards were submitted, and the accounts remained completely inactive with zero balance."
Concurrently, Chief of Staff to the President Femi Gbajabiamila visited the headquarters of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to testify in the ongoing investigation into the fictitious agency.
Meanwhile, Head of the Civil Service of the Federation Didi Walson-Jack testified that her office never allocated workspace to the council, though it processed a 314-position establishment request submitted by an individual now under police questioning. Committee Chairman Gagdi has summoned Secretary to the Government of the Federation George Akume and other top ministers to appear on Thursday.
#PFIPC #CentralBankOfNigeria #NationalAssembly #Gbajabiamila #HouseOfReps #CorruptionProbe
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