CBN Opens Dollar, Pound Accounts for PFIPC, No Transactions

Hamisu Ibrahim, a director at the Central Bank of Nigeria (CBN), revealed during a public hearing that the CBN opened two bank accounts—one in dollars and another in pounds sterling—for the Presidential Foreign Investment Promotion Council (PFIPC). This action was taken following a directive from the Office of the Accountant General of the Federation (OAGF).

The accounts were opened on July 30, 2025, but Ibrahim disclosed that no transactions have taken place in either account since their establishment. The information was provided during a session with an ad hoc committee investigating the existence and operations of the PFIPC, chaired by Representative Yusuf Gagdi, who requested detailed financial transaction records related to the council's accounts from the CBN.