AGF contradicts Presidency, says PFIPC has no operational CBN account

AGF contradicts Presidency, says PFIPC has no operational CBN account

The controversy surrounding the Presidential Foreign Intervention Promotion Council (PFIPC) has deepened after the Office of the Accountant-General of the Federation (OAGF) contradicted an earlier statement by the Presidency, insisting that the council has no operational account with the Central Bank of Nigeria (CBN) and has not received any government funds.

The clarification comes days after the Presidency alleged that Prince Adeniyi Adeyemi, who presented himself as the Director-General of the PFIPC, fraudulently opened a CBN account by allegedly using forged documents to mislead officials of the Accountant-General’s office.

Presidential spokesman Bayo Onanuga had stated that police investigations revealed Adeyemi used fake appointment letters and forged official documents to facilitate the opening of the account. He, however, maintained that investigators found no evidence that public funds were paid into it.

However, responding to the development, the OAGF said the account was never activated, making it impossible for the council to receive any allocation from the Federal Government.

The agency’s Director of Public Relations, Bawa Mokwa, explained that while an application to open a CBN account was initiated after Adeyemi presented an appointment letter linked to an existing government institution, the process never progressed beyond the preliminary stage.

According to him, the names of the authorised signatories required to complete the account opening process were never submitted, preventing the account from becoming operational.

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“The account has not seen the light of day. It has not received one kobo because it was never fully activated. The Accountant-General has not released any money because there is no operational account for such payment,” Mokwa said.

Mokwa stressed that the existence of a budgetary provision for an agency does not automatically entitle it to receive public funds.

He explained that although the PFIPC appears in the 2026 Appropriation Act, every government agency must satisfy statutory financial and administrative requirements before any allocation can be released.

The OAGF also dismissed reports that salaries had been paid to officials or workers of the council.

According to Mokwa, federal agencies cannot recruit staff or process salary payments without obtaining approvals from the Federal Character Commission, the Budget Office of the Federation, and the Federal Civil Service Commission, after which employees must be enrolled on the Integrated Payroll and Personnel Information System (IPPIS).

He said none of those requirements had been fulfilled by the PFIPC, making it impossible for any employee of the council to receive salaries from the Federal Government.

“If an agency is granted a waiver to recruit, it must still obtain approvals from the relevant agencies before presenting staff details to the Accountant-General. Without those approvals, not even one employee can be captured on the payroll,” he added.

The controversy first emerged after the Presidency publicly disowned the PFIPC, insisting that no such agency exists under the administration of President Bola Tinubu.

The Presidency further alleged that Adeyemi forged appointment letters, official State House documents and the signature of the Chief of Staff to the President, Femi Gbajabiamila, while presenting himself as the council’s Director-General.

According to presidential officials, the issue came to light in October 2025 after the Nigerian Investment Promotion Commission (NIPC) alerted authorities that the purported council was performing functions similar to those legally assigned to the commission.

The Office of the Chief of Staff subsequently petitioned security agencies, leading to investigations, Adeyemi’s arrest and his ongoing prosecution on allegations bordering on forgery, impersonation and related offences.

Despite the Presidency’s insistence that the PFIPC does not legally exist, fresh questions emerged after the 2026 Appropriation Act listed the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council under the Presidency with a budgetary allocation of about ₦1.3 billion.

The allocation reportedly includes funding for personnel, overhead and capital projects, raising questions about how an agency described as non-existent found its way into Nigeria’s approved national budget.

The apparent contradiction has triggered widespread reactions from opposition politicians, lawyers, governance experts and civil society organisations, many of whom have demanded greater transparency from the Federal Government.

Critics have also questioned reports that the council allegedly operated from offices within the Federal Secretariat and interacted with several government institutions before it was disowned by the Presidency.

With the OAGF now insisting that no operational CBN account exists and that no public funds have been released to the council, attention has shifted beyond the criminal allegations against Adeyemi to broader concerns over Nigeria’s budgeting process, inter-agency coordination and administrative oversight.

Observers say the conflicting official positions underscore the need for a comprehensive explanation from the Federal Government on the legal status of the PFIPC, the circumstances surrounding its inclusion in the national budget and the safeguards in place to prevent similar controversies.

Meanwhile, Adeyemi’s criminal trial is continuing, while calls for an independent investigation into the entire PFIPC saga continue to gather momentum.

AGF contradicts Presidency, says PFIPC has no operational CBN account