Hamisu Abdullahi, a Director at the Central Bank of Nigeria, informed a House of Representatives committee that the apex bank exclusively opens government accounts following explicit authorization from the Office of the Accountant-General of the Federation. Testifying regarding the controversial Presidential Foreign Investment Promotion Council, Abdullahi clarified that the CBN does not engage directly with agencies for account management.
The official confirmed the bank opened one U.S. dollar and one Pound Sterling domiciliary account for the council on July 30, 2025, following a directive from the OAGF. He emphasized that both accounts are inactive with zero balances, noting no financial transactions have ever occurred. The CBN maintained no direct communication with the council regarding these accounts.
Separately, Didi Esther Walson-Jack, the Head of the Civil Service, testified that her office lacks the authority to establish government agencies. While the OHCSF reviews administrative structures, she noted that the council’s request for an organizational structure remained incomplete. Although the office later approved manpower for 314 positions after being informed of existing staff, the Head of Service confirmed that the council’s submitted legal documents appeared suspicious and that no civil servants were deployed to the body.
Committee Chairman Abdulmalik Danga has demanded that the CBN submit full records of all financial activities related to the council and investigate any potential accounts held within commercial banks to clarify the legality of the entity’s operations.
