OAGF Addresses ‘Fake’ Agency’s CBN Account

The Office of the Accountant-General of the Federation (OAGF) has dismissed claims that the controversial Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PEAC/PFIPC) operated an active account with the Central Bank of Nigeria (CBN) or received government funds.

The clarification came amid ongoing investigations into the alleged activities of the organisation, which the Federal Government has repeatedly described as an unauthorised body with no legal backing.

Speaking on the matter, the Director of Press and Public Relations at the OAGF, Bawa Mokwa, said the agency never operated an active account with the CBN because the account-opening process was never completed.

According to him, although an application was submitted to open an account, the required documents needed to activate it were never provided.

He explained that no account can be opened at the CBN without approval from the Accountant-General of the Federation.

Mokwa disclosed that the individual behind the application presented an appointment letter during the process, claiming to represent an existing government agency.

He said the account-opening process started based on the documents submitted, but it could not move beyond the initial stage because the names of the officials expected to serve as account signatories were never provided.

As a result, the account never became operational and did not receive any government funds.

He added that the absence of an active account meant there was no channel through which public funds could be released to the organisation.

Mokwa also rejected reports claiming the agency received allocations from the Federal Government through the national budget.

He explained that although references had been made to the organisation in relation to the 2026 budget, it never reached the stage where government funds could legally be released.

The OAGF spokesman further denied claims that salaries had been paid to workers linked to the council.

According to him, the organisation never completed the required recruitment process for federal agencies.

He explained that before any government establishment can recruit employees and place them on the federal payroll, approvals must first be obtained from the Federal Character Commission, the Budget Office and the Federal Civil Service Commission.

Only after receiving those approvals can employee details be submitted to the Office of the Accountant-General for enrolment into the Integrated Payroll and Personnel Information System for salary payments.

Mokwa maintained that none of these conditions had been met, making it impossible for the organisation to receive salary payments through the Federal Government.

Meanwhile, fresh details have emerged from the Presidency regarding the alleged activities of the PEAC/PFIPC.

According to the Presidency, a police investigation established that the signature of the Chief of Staff to the President and the State House letterhead used on the alleged appointment letter were forged.

Senior Special Assistant to the President on Media and Publicity, Temitope Ajayi, said the findings of the police investigation confirmed that the documents presented by the suspect were not genuine.

He explained that the forged documents also contained errors that clearly differed from official State House correspondence, including the inclusion of telephone numbers not found on authentic government letterheads.

Ajayi further explained that the Chief of Staff does not issue appointment letters for government agencies or extra-ministerial bodies.

He said presidential appointments are approved by the President, communicated by the Chief of Staff to the Secretary to the Government of the Federation (SGF), while the formal appointment letters are issued by the SGF.

The Presidency also referred to an official memo issued by the Office of the Secretary to the Government of the Federation on October 21, 2025, which declared the Presidential Foreign Intervention Promotion Council an illegal organisation.

The memo, signed on behalf of the SGF by the Permanent Secretary of the General Services Office, informed the Nigerian Investment Promotion Commission that the council was not recognised by the Federal Government.

It also stated that investigations confirmed the organisation had no legal or administrative foundation and was never created through any official government instrument.

The Office of the Secretary to the Government of the Federation advised the commission to ignore any dealings with the organisation and notify the relevant authorities if it attempted to interfere with its statutory responsibilities.

The Federal Government has consistently maintained that the council is fictitious and has no official connection with any government institution.

Prince Adeniyi Adeyemi, who allegedly promoted the organisation, is currently facing criminal charges over allegations including forgery and impersonation.

He is expected to return to court later this month as legal proceedings continue.