Nigeria’s Central Bank (CBN) has told lawmakers it opened two domiciliary accounts for the disputed Presidential Foreign Investment Promotion Council (PFIPC) after receiving authorisation from the Office of the Accountant-General of the Federation (OAGF), contradicting earlier claims that no such accounts existed.

Appearing before a House of Representatives investigative panel, CBN director Hamisu Abdullahi said the bank opened the dollar and pound sterling accounts in July 2025 after verifying the OAGF’s mandate. He stressed the accounts have never been activated, carry zero balances and recorded no transactions because authorised signatories were never provided.

The testimony comes as the Independent Corrupt Practices and Other Related Offences Commission (ICPC) questioned President Bola Tinubu’s Chief of Staff, Femi Gbajabiamila, over allegations made by the council’s self-acclaimed Director-General, Adeyemi Adeniyi. Gbajabiamila has denied the claims, which include allegations of a ₦400 million payment and demands for a share of the council’s proposed budget, and has filed a ₦15 billion defamation suit.

The Office of the Head of the Civil Service also told lawmakers it never established the council or deployed staff to it, although it acknowledged processing a manpower request after the council submitted documents that were later found to have irregularities.

Speaker Abbas Tajudeen said the House investigation aims to determine whether the PFIPC was legally created, how it secured budget allocations exceeding ₦1.3 billion, and whether due process was followed. The committee has summoned top government officials, including the ministers of Finance, Budget, Justice and Trade, as well as the CBN governor, EFCC, ICPC and DSS leadership.

The House committee is expected to submit its findings after completing its investigation.