Fresh disclosures have emerged in the House of Representatives’ probe into the alleged Presidential Foreign Investment Promotion Council, with both the Central Bank of Nigeria and the Office of the Head of the Civil Service of the Federation distancing themselves from the council’s establishment and operations.
Appearing before the House ad hoc committee, CBN Director Hamisu Abdullahi said the apex bank only opens government accounts on the instruction of the Office of the Accountant-General of the Federation. He told lawmakers; “We do not have any direct engagement with any ministry, department or agency… except through the Office of the Accountant-General”.
Abdullahi disclosed that two foreign currency accounts were opened for the council in July 2025 but were never activated because authorised signatories were not provided. He added, “Those two accounts remain inactive with zero balance and have never been operated.”
The Office of the Head of the Civil Service also denied playing any role in establishing the council, saying, “The approval and establishment of agencies is not within the purview of the Office of the Head of the Civil Service of the Federation”.
It further revealed that PFIPC’s request for approval of its organisational structure was rejected because the required documents were not submitted and that the legal instrument presented “did not really carry the requisite features”.
Following the submissions, the committee directed the CBN to provide comprehensive records of all accounts linked to the PFIPC and the Presidential Economic Advisory Council as lawmakers continue investigations into the council’s legal status and operations.
