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The Office of the Accountant-General of the Federation has said that no account was opened at the Central Bank of Nigeria for the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PFIPC) and that no public funds were disbursed despite the agency receiving a budget allocation.
Bawa Mokwa, Director of Information and Public Relations at the OAGF, told Vanguard on Monday that the account-opening process was not completed because the required names of authorised signatories were never submitted.
“The CBN account was not successfully opened because there have to be signatories to such an account, which were not provided. As such, no money was paid into the said account,” Mokwa said.
He added that although the PFIPC was allocated ₦1.303 billion in the 2026 budget, implementation only began in July, and no funds could be transferred without an active account.
The proposed account also lacked the required authorisation from the Accountant-General.
Mokwa said no staff were employed by the council under its Director-General, aside from officers deployed from the OAGF.
He added that the deployed officers would serve as prosecution witnesses in ongoing legal proceedings.
Adeyemi Adeniyi Matthew, who claimed to head the council, is facing charges of conspiracy, forgery, and impersonation at the Federal High Court in Abuja. The case is scheduled to resume on July 27.
