*The Central Bank of Nigeria acknowledges it opened two accounts for the controversial ‘Presidential Foreign Intervention Promotion Council’, but clarifies the said bank accounts never recorded inflows or remittances till this day
Isola Moses | ConsumerConnect
Amid the ongoing probe into the activities of the “illegal” disputed ‘Presidential Foreign Intervention Promotion Council (PFIPC)’, the Central Bank of Nigeria (CBN) has affirmed that it opened two accounts for the disputed PFIPC’ but noted that they never recorded inflows or remittances.
Abdullahi Hamisu, Director of Banking Services at CBN, stated this Monday, July 22, 2026, while speaking during the House of Representatives Ad hoc Committee’s probe of the reverberating PFIPC scandal, in the National Assembly (NASS), Abuja, FCT.
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Hamisu said the CBN actually received instructions from the Office of the Accountant-General of the Federation (OAGF), mandating it to open two accounts for the disputed Adeyemi Adeniyi Matthew-led agency.
The Director of Banking Services at CBN further explained: “Like I said, the accounts have never been operated.
“As a result, there have not been any Foreign Exchange allocations to the Council from CBN.”
The Director stated: “There have not been any remittances into those two accounts.
“There have not been approvals because the authority has not been established for those who will operate the account.”
Hamisu also told the Federal legislators: “So, there was no transaction made to or by the Council throughout the period: from August when it was opened till today when we generated the statement.
“The details of financial inflow – I think I’ve mentioned this. That’s the number three question.”
He stated: “The account has maintained a zero balance from inception to date.
“The accounts have maintained a zero balance from inception to date and have never recorded any inflow or outflow.”
Insight into how PFIPC opened accounts with CBN
Detailing how the ‘PFIPC’ got an account with the Central Bank of Nigeria, “On the 30th of July 2025, we received a mandate dated 29th July 2025 from the office of the Accountant-General of the Federation authorising the Central Bank of Nigeria to open accounts.
“On the 30th of July, 2025, we received the mandate, but the mandate has a date on it that is July 29, 2025, and I have submitted our response.”
The CBN top official stated: “A copy of the mandate is also attached to our response.
“So, we received the mandate authorising us to open two accounts. One is a US Dollar domiciliary account.”
He also noted: “The other one is a GBP (Pound) domiciliary account for the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council.
“Based on that mandate, we did the normal verification to confirm the genuineness of the mandate and also processed the account opening, and two accounts were actually opened (domiciliary): a dollar account and a pound sterling account for the Presidential Economic Advisory council/Presidential Foreign Intervention Promotion Council wall summit.”
Hamisu told the lawmakers: “Usually, when we open the account, we also advise OAGF through a letter that this account has actually been opened so that he can inform the agency directly.
“So, after opening this account, we did not receive any correspondence to collect signature mandate cards, or we were not introduced to who the authorising officers or the approving officers were.”
He stated: “We were not introduced to that.
“Based on that, those accounts remain inactive with zero balance and have never been operated. “Those two accounts have never been operated.”
It is recalled that Hamisu’s appearance before the Committee Monday followed the PFIPC controversy.
Earlier, Prince Adeniyi Adeyemi Matthew, the self-acclaimed Director-General of PFIPC, had claimed that Rt. Hon. Femi Gbajabiamila, Chief of Staff (CoS) to the President, issued him an appointment letter.
Security agencies apprehended runaway Prince Adeyemi July 14, in Osun State, South-West Nigeria.
He had also claimed to have paid money to Gbajabiamila, a former Federal lawmaker and ex-Speaker of the House of Representatives, for the appointment.
However, the CoS to the President has denied the allegations, and has filed a N50 billion suit against Adeyemi.
Likewise, the Presidency has denied the existence of such a Council, and Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, in a statement, accused Adeyemi of forging the appointment letter.
The Presidency as well said Police authorities discovered that Adeyemi opened an account with the CBN by allegedly using forged documents to mislead the OAGF.
It also said the Police discovered that Adeyemi operated 34 bank accounts, with nine in the names of disputed agencies identified as the FCT Investment Promotion Agency and the Public Private Partnership (FIPA-APP) and the FCT Investment Promotion Act.
Bawa Mokwa, Director of Public Relations in the OAGF, however, said PFIPC has no account with the banking sector regulator.
According to Mokwa, while an application was made to open a CBN account, the process was not completed due to a lack of necessary documents to make it become operational.