‘Fake Agency’ yet to complete CBN account opening, receive no fund — OAGF clarifies

The Office of the Accountant-General of the Federation, OAGF on Monday clarified that the Presidential Economic Advisory Council/Presidential Foreign Inter­vention Promotion Council (PFIPC) has not yet completed the account opening with the Central Bank of Nigeria, CBN.

This was disclosed by the Director of Information and Public Relations in the OAGF, Bawa Mokwa, saying no fund was released to the agency.

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He confirmed that there was budgetary allocation to the PFIPC in the 2026 Appropriation to the rune of N1.303 billion, but the implementation was yet to commence before crisis hit the agency.

According to him, the CBN account opening which was initiated by Prince Adeyemi Adeni­yi Matthew, Director of the agency was incomplete because the names of the pro­posed account signatories were not submitted.

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Mokwa said, the lack of authorised signatories affected the opening of the account with the CBN and no fund was paid into it.

He said: “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”.

“With the current develop­ment, it is clear that no money can be paid into the said ac­count,” he added.

He said the OAGF played no role in attempt of account opening by Prince Adeyemi as the required authorisation letter from the Accountant-General of the Federation was not issued.

Mokwa stated that it was only the staff deployed from the OAGF, that were there as no fresh mem­bers of staff were employed by the council under its Director-Gen­eral, adding that deployed staff would serve as prosecution witness in the ongoing litigation.

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