PFIPC: CBN opens govt accounts only on OAGF authorisation – Director tells Reps probe panel

By Gift ChapiOdekina, Abuja A Director at the Central Bank of Nigeria (CBN), Hamisu Abdullahi, has told the House of Representatives Ad-hoc Committee investigating the alleged establishment of the Presidential Foreign Investment Promotion Council (PFIPC) without a valid legal framework that the apex bank only opens accounts for government agencies upon receiving formal approval from the Office of the Accountant-General of the Federation (OAGF).” The CBN official disclosed that the apex bank received a mandate from the OAGF dated July 29, 2025, to open two domiciliary accounts for the Presidential Economic Advisory Council/Presidential Foreign Investment Promotion Council.

She, however, stated that during the 2025 annual manpower budget defence exercise, officials of the Presidential Economic Advisory Council/Presidential Foreign Investment Promotion Council requested an authorised establishment and recruitment waiver.