The Office of the Accountant-General of the Federation (OAGF) has clarified that no account was successfully opened with the Central Bank of Nigeria (CBN) for the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PFIPC), stressing that no public funds have been released to the body despite its allocation in the 2026 Appropriation Act.
The Director of Information and Public Relations at the OAGF, Bawa Mokwa, disclosed this on Monday, explaining that the account-opening process initiated by Prince Adeyemi Adeniyi Matthew was never completed because the names of the proposed account signatories were not submitted.
According to Mokwa, the absence of authorised signatories meant the account could not be opened, making it impossible for any funds to be disbursed.
“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,” he said.
He added that although the PFIPC received a budgetary allocation in the 2026 federal budget, implementation of the budget only commenced in July.
“With the current development, it is clear that no money can be paid into the said account,” Mokwa stated.
He further explained that the proposed CBN account did not receive the required approval from the Accountant-General of the Federation.
Mokwa also revealed that, aside from officers deployed from the OAGF, no staff members were recruited by the council under its Director-General. He noted that the deployed personnel would now serve as prosecution witnesses.
The Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council was allocated ₦1.303 billion in the 2026 federal budget, comprising ₦802.98 million for personnel costs, ₦200 million for overhead expenditure and ₦300 million for capital projects.
