CBN Opens Dormant Accounts Amid Corruption Allegations

The Central Bank of Nigeria (CBN) disclosed that it was mandated by the Office of the Accountant General of the Federation (OAGF) to open two dormant accounts for a purported council, which has raised concerns about corruption. Allegations have surfaced against Femi Gbajabiamila, the Chief of Staff to the President, and Adeniyi Adeyemi, who purportedly received N400 million.

Gbajabiamila has denied these allegations and filed a defamation suit for N15 billion against Adeyemi. The accounts, opened on July 30, 2025, for the Presidential Economic Advisory Council and the Presidential Foreign Investment Promotion Council, have remained inactive with a zero balance since their inception.

Hamisu Abdullahi, representing the CBN, stated that the accounts were opened based on a mandate that was verified and confirmed, but no financial activities have been linked to them. The Independent Corrupt Practices and Other Related Offences Commission is investigating the matter, which has prompted the National Assembly to form an ad hoc committee to probe the allegations further.