No Agency Can Open CBN Account Without Accountant General’s Approval— Official
The Office of the Accountant-General of the Federation (OAGF) has dismissed claims that the Presidential Foreign Intervention Promotion Council (PFIPC) operates an account with the Central Bank of Nigeria (CBN), insisting that no federal agency can open a CBN account without the approval of the Accountant-General.
The clarification was made by the OAGF's Director of Public Relations, Bawa Mokwa, who said the PFIPC has neither an operational CBN account nor access to public funds, despite reports suggesting otherwise.
According to Mokwa, although an application was initiated to open an account for the council, the process was never completed because the required documentation, including the names of authorised account signatories, was not submitted.
"You cannot open an account at the CBN without authorization from the Accountant General. The Accountant General will authorise them to open an account at the CBN," he said.
He explained that Adeniyi Adeyemi, the council's convener, had approached the OAGF with an appointment letter, which he alleged was linked to an already existing agency rather than the PFIPC. Based on the document presented, the account-opening process was initiated but could not be concluded.
Mokwa stressed that the absence of an operational account meant there was no channel through which the Accountant-General's office could release government funds to the council.
"The account, till today, has not seen the light of day. It has not seen one kobo because the account is not completely operational," he 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."
He also rejected reports alleging that salaries had been paid to staff of the council, maintaining that no personnel had been recruited through the statutory procedures required for federal establishments.
"Based on our knowledge, he has not employed anybody," Mokwa stated.
The OAGF spokesman explained that before any federal agency can recruit staff and place them on the government payroll, it must secure approvals from the Federal Character Commission (FCC), the Budget Office and the Federal Civil Service Commission (FCSC). Only after those approvals can the names of employees be submitted to the Accountant-General for enrolment on the Integrated Payroll and Personnel Information System and payment of salaries.
"If they give you a waiver for 200 people, you take the waiver to these agencies and then present the papers to the Accountant General," he said.
"He cannot capture even one name without those approvals because once they are captured, payment will come from the budget."
Mokwa added that none of the statutory requirements had been fulfilled by the council.
Meanwhile, a review of the 2026 Appropriation Act shows that the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council is listed under the Presidency with a total allocation of N1.303 billion. The provision comprises N802.98 million for personnel costs, N200 million for overhead expenditure and N300 million for capital projects.
However, the OAGF maintained that the council has not received any government funds, noting that although funding is expected to come through the 2026 budget, it has not reached the stage where such releases can be made because the necessary administrative and financial processes remain incomplete.