OAGF denies PFIPC has CBN operational account

The Office of the Accountant-General of the Federation (OAGF) has denied reports that the alleged Presidential Foreign Intervention Promotion Council (PFIPC) operates an active account with the Central Bank of Nigeria (CBN).

According to a report by TheCable, the Federal Government granted a waiver to the controversial PFIPC to recruit 300 members of staff in August 2025.

The report also stated that a review of the 2026 Appropriation Act showed that the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council is listed under the Presidency with a total budgetary allocation of N1,302,978,784.

The allocation comprises N802,978,783 for personnel costs, N200,000,001 for overhead expenditure and N300,000,000 for capital projects.

Responding over the weekend, the Director of Public Relations at the OAGF, Bawa Mokwa, said neither public funds nor salaries had been paid to the organisation.

Mokwa explained that although an application was made to open a CBN account, the process was never completed because the required documentation to activate the account was not submitted.

“You cannot open an account at the CBN without authorisation from the Accountant-General. The Accountant-General will authorise them to open an account at the CBN.”

According to the report, Mokwa said Adeniyi Adeyemi, the convener of the PFIPC, approached the OAGF and presented an appointment letter, but alleged that the document related to an already existing agency rather than the PFIPC.

He explained that the account-opening process commenced based on the document presented, but the account never became operational because the names of the officials expected to serve as account signatories were not provided.

“The account, till today, has not seen the light of day. It has not seen one kobo because the account is not completely operational,” Mokwa said.

“That portrays that he has not collected a dime. The AGF has not released a dime to him because they don’t even have a place where the money can be paid.”

The Director further claimed that the agency had not received any budgetary allocation from the Federal Government.

He noted that the council’s funding is expected to come under the 2026 budget and had not yet reached the stage where it could receive government funds.

Mokwa also dismissed reports that salaries had been paid to workers of the agency, maintaining that it had not recruited any staff through the procedures required for Federal Government establishments.

“Based on our knowledge, he has not employed anybody,” he said, according to the report.