CBN Confirms Foreign Accounts for Alleged Fake Agency

The Central Bank of Nigeria (CBN) confirmed it opened two foreign currency domiciliary accounts for the Foreign Investment Promotion Council (PFIPC), which is under investigation for alleged fraudulent activities. This disclosure was made during a public hearing by the House of Representatives' ad hoc committee investigating the PFIPC.

CBN's Hamisu Ibrahim stated that the accounts were opened following a formal mandate from the Office of the Accountant General of the Federation on July 30, 2025. However, it was revealed that the accounts remained inactive with zero balance due to the absence of authorized signatures.

This contradicted earlier statements by Shamseldeen Ogunjimi, who claimed no accounts were opened in PFIPC's name. The committee also heard from Didi Walson Jack, who mentioned that PFIPC had not been allocated office space.

Femi Gbajabiamila, Chief of Staff to President Bola Tinubu, voluntarily appeared before the Independent Corrupt Practices Commission to assist in the investigation, which is linked to a defamation suit he filed against PFIPC's director, Adeniyi Adeyemi, over alleged kickback demands.