The Central Bank of Nigeria (CBN) has told the House of Representatives Ad-hoc Committee investigating the Presidential Foreign Investment Promotion Council (PFIPC) that it opened two foreign currency accounts for the council following a directive from the Office of the Accountant-General of the Federation (OAGF).
Appearing before the committee on Monday, the CBN said it was not required to seek an enabling Act before processing the request to open the accounts.
Representing the CBN Governor, the Director of Banking Services Department, Hamisu Ibrahim, explained that the bank received a formal mandate dated July 29, 2025, from the Office of the Accountant-General instructing it to open the accounts for the Presidential Economic Advisory Council/Presidential Foreign Investment Promotion Council.
He further disclosed that the two domiciliary accounts—one in United States dollars and the other in British pounds sterling—were never funded or operated.
