OAGF and Presidency Trade Claims Over PFIPC CBN Accounts

The clash over PFIPC has now moved beyond procedure and into a credibility crisis, with the Presidency alleging forged documents and the OAGF flatly denying that PFIPC has an operational CBN account.

Atlantic Post

July 7, 2026

2–3 minutes

Bayo Onanuga, CBN, Nigeria Police Force, OAGF, PFIPC, Presidency

ABUJA, Nigeria — The Office of the Accountant General of the Federation and the Presidency have issued conflicting statements over the status of accounts linked to the controversial Presidential Foreign Intervention Promotion Council, PFIPC, deepening public confusion around the body and its alleged operations.

The row centres on claims that a Central Bank of Nigeria account was fraudulently opened in connection with PFIPC and on whether the council, which has remained controversial, actually has any operational account with the apex bank.

On July 1, the Presidency said the Nigeria Police Force discovered that Adeniyi Adeyemi, the Director General of PFIPC, used forged documents to create a CBN account by misleading the Office of the Accountant General of the Federation.

The statement was issued by Bayo Onanuga, Special Adviser to the President on Information and Strategy, who said police investigations uncovered a wider pattern of alleged financial irregularities involving multiple bank accounts.

According to him, the police found that Adeyemi operated 34 bank accounts, including nine allegedly opened in the names of fictitious agencies known as the FCT Investment Promotion Agency, the Public Private Partnership, FIPA APP, and the FCT Investment Promotion Act.

“The Police found that Adeyemi, using the fake documents he created, fraudulently opened a CBN account by misleading the Office of the Accountant General of the Federation,” Onanuga said.

The Presidency’s position appeared to suggest that the alleged use of forged documents had resulted in the creation of a bank account that was recognised through official channels, raising questions about how such an account was processed and what internal checks may have failed.

However, over the weekend, the Director of Public Relations at the OAGF, Bawa Mokwa, offered a sharply different account. He said PFIPC has no operational account with the CBN.

That statement has fuelled further uncertainty over the exact status of the account mentioned by the Presidency and whether the issue concerns an account that was created, approved, or merely attempted.

The contradiction between the two offices is significant because it touches on institutional credibility, financial controls, and the integrity of public accounting processes. If the Presidency’s account is correct, the matter would point to a serious breach involving forged documents and possible abuse of official systems. If the OAGF’s version is correct, it raises questions about whether the account was ever operational in the first place and whether the alleged fraud was detected before any formal use of the account.

For now, the conflicting statements have left key questions unanswered. It remains unclear whether the CBN account referenced by the Presidency was active, dormant, or never formally approved. It is also unclear what disciplinary, administrative, or criminal steps, if any, have followed the police findings cited by the Presidency.

What is certain is that the issue has now become more than a dispute over accounts. It has turned into a test of consistency between two of the most sensitive arms of government handling public finance and executive communication.

Until the Presidency, the OAGF, or the police provide a unified and detailed explanation, the controversy surrounding PFIPC is likely to remain a live issue, especially given the claims of forged documents, fictitious agencies, and multiple bank accounts allegedly tied to the matter.