The controversy surrounding the alleged Presidential Foreign Investment Promotion Council (PFIPC) deepened on Monday after the Central Bank of Nigeria (CBN) confirmed it opened two foreign currency domiciliary accounts for the agency, even as Chief of Staff to the President, Femi Gbajabiamila, appeared before the Independent Corrupt Practices and Other Related Offences Commission (ICPC) over the scandal.
The disclosure came during a public hearing of the House of Representatives Ad hoc Committee investigating the existence and operations of the PFIPC, where the apex bank admitted it created both a United States dollar and a British pound sterling account for the controversial agency.
Represented by the Director of Banking Services, Hamisu Ibrahim, the CBN told lawmakers the accounts were opened after receiving a formal mandate from the Office of the Accountant General of the Federation dated July 29, 2025.
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According to him, the bank carried out its standard verification procedures before opening the accounts.
He, however, clarified that the accounts were never activated because no authorised signatories, mandate cards or operational instructions were subsequently submitted.
“As a result, both accounts remain inactive with zero balance. There has been no inflow, outflow or foreign exchange allocation since they were opened,” Ibrahim told the committee.
The testimony contradicted an earlier submission by Accountant General of the Federation, Shamseldeen Ogunjimi, who had maintained that no accounts were opened in the name of the PFIPC.
Also appearing before the committee, the Head of the Civil Service of the Federation, Didi Walson Jack, denied allegations that her office allocated office accommodation to the PFIPC.
She explained that records showed the office space reportedly occupied by the agency at the Federal Secretariat Phase III actually belongs to the Office of the Secretary to the Government of the Federation (OSGF), not the council.
Walson Jack, however, disclosed that during the 2025 Annual Manpower Budget Defence Exercise, the council submitted documents, including an appointment letter for its Director General and details of its proposed mandate, through one Patricia Akhigbe.
She said the submission was processed alongside requests from 87 other Ministries, Departments and Agencies, leading to the issuance of an authorised establishment for 314 positions and a recruitment waiver.
The Head of Service stressed that no staff were deployed to the council and no recruitment was eventually approved, adding that Akhigbe has since been invited by the police for questioning.
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The committee subsequently summoned Secretary to the Government of the Federation, George Akume, alongside the Minister of Finance, Minister of Budget and Economic Planning, Minister of Foreign Affairs, Attorney General of the Federation, Inspector General of Police, Accountant General of the Federation and other senior government officials to appear before it on Thursday.
Meanwhile, the ICPC on Monday questioned Chief of Staff to the President, Femi Gbajabiamila, as part of the ongoing investigation into the PFIPC saga.
His lawyer, Jiti Ogunye, confirmed that Gbajabiamila honoured the commission’s invitation, gave his statement and responded to investigators’ questions before returning to work.
The probe follows allegations by the self styled Director General of the PFIPC, Adeniyi Adeyemi, who claimed he paid N400 million through an intermediary to secure his appointment and alleged that additional financial demands were made in connection with the agency.
Gbajabiamila has denied the allegations, describing them as false and defamatory, and has filed a N15 billion lawsuit against Adeyemi.
The Presidency has also insisted that the PFIPC is not a recognised Federal Government agency, while President Bola Tinubu directed the ICPC to investigate the matter and submit its report within 30 days.
The scandal has generated widespread public attention after revelations that the alleged agency reportedly secured budgetary allocations, office space and other official documentation despite questions over its legal existence.
