The Central Bank of Nigeria has confirmed that it opened two foreign-currency domiciliary accounts for the controversial Presidential Foreign Investment Promotion Council, despite allegations that the body was not legally established.
The disclosure was made on Monday during a public hearing of the House of Representatives Ad-hoc Committee investigating the existence and operations of the council, while the Chief of Staff to the President, Femi Gbajabiamila, appeared before the Independent Corrupt Practices and Other Related Offences Commission over the ongoing probe.
Representing the CBN, the Director of Banking Services, Hamisu Ibrahim, told lawmakers that the apex bank acted on a directive from the Office of the Accountant-General of the Federation, which requested the opening of a United States dollar account and a British pound sterling account for the council.
According to him, the bank carried out its standard verification procedures before creating the accounts, but they were never activated because no authorised officials submitted the required documentation, including mandate cards and specimen signatures.
He added that the accounts had remained inactive since they were opened, maintaining zero balances with no inflow, outflow or foreign exchange transactions recorded.
The disclosure contradicted an earlier submission by the Accountant-General of the Federation, Shamseldeen Ogunjimi, who had told the committee that no bank accounts were opened in the name of the council.
Also appearing before the panel, the Head of the Civil Service of the Federation, Didi Walson-Jack, denied allocating office accommodation to the council, saying records showed that the office address linked to the agency belonged to the Office of the Secretary to the Government of the Federation.
She, however, disclosed that the council submitted documents during the 2025 manpower budget exercise through one Patricia Akhigbe, after which an approved establishment of 314 positions and a recruitment waiver were processed. She stressed that no staff were deployed to the council and no recruitment approval was eventually granted.
Following the hearing, the committee directed the Secretary to the Government of the Federation, George Akume, alongside the Inspector-General of Police, the Ministers of Finance, Foreign Affairs, Budget and National Planning, the Attorney-General of the Federation, the Accountant-General and other top government officials to appear before it on Thursday.
Meanwhile, Gbajabiamila honoured an invitation by the ICPC on Monday as part of investigations into the alleged fake agency. His lawyer, Jiti Ogunye, confirmed that the Chief of Staff appeared before investigators, answered questions and returned to his official duties after the session.
Sources within the anti-graft agency also confirmed that Gbajabiamila voluntarily provided information considered relevant to the investigation.
The Chief of Staff has also instituted a N15bn defamation suit against the alleged promoter of the council, Adeyemi, over claims that he demanded kickbacks from the agency's proposed take-off funds. Gbajabiamila denied the allegations, insisting he neither met nor authorised anyone to act on his behalf.
Adeyemi, who was recently arrested, had claimed in an earlier interview that he lobbied officials to include the council in the 2026 budget but denied paying bribes. He also stated that he had never met Gbajabiamila personally.
Reacting to the development, opposition figures called for a transparent investigation. While the Obidient Movement demanded a public inquiry into the scandal, the Social Democratic Party and the National Democratic Congress urged the Chief of Staff to temporarily step aside to allow an impartial investigation.
Adeyemi is expected to return before the Federal High Court in Abuja on July 27 alongside two other suspects who are currently at large.
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