Fresh revelations have emerged in the ongoing investigation into the controversial Presidential Foreign Investment Promotion Council (PFIPC), with the Central Bank of Nigeria confirming that it opened two foreign currency domiciliary accounts for the council despite mounting questions over the agency's legitimacy.
The disclosure came during a public hearing of the House of Representatives Ad-hoc Committee investigating the establishment and operations of the PFIPC, while the Chief of Staff to the President, Femi Gbajabiamila, separately honoured an invitation by the Independent Corrupt Practices and Other Related Offences Commission as part of its ongoing investigation.
Representing the Central Bank of Nigeria before the committee, the Director of Banking Services, Hamisu Ibrahim, said the apex bank received a formal mandate from the Office of the Accountant-General of the Federation on July 30, 2025, authorising the opening of two domiciliary accounts, one denominated in United States dollars and the other in British pounds sterling, for the Presidential Economic Advisory Council and the Presidential Foreign Investment Promotion Council.
Ibrahim explained that the bank followed its standard verification procedures by authenticating the mandate before processing the request. He added that account verification and account opening are handled by separate departments within the CBN.
Despite the accounts being successfully opened, he disclosed that they never became operational because the required account activation documents, including authorised signatures and mandate cards, were never submitted.
According to him, no official was introduced to operate the accounts, there were no foreign exchange allocations, and both accounts have remained inactive with zero balances since they were created. Statements of account, he said, have been submitted to the investigative committee.
The testimony contradicted an earlier submission by Accountant-General of the Federation, Shamseldeen Ogunjimi, who had informed lawmakers that no accounts were opened in the PFIPC's name.
The Head of the Civil Service of the Federation, Didi Walson-Jack, also appeared before the committee and dismissed claims that her office allocated accommodation to the council within the Federal Secretariat Phase III in Abuja.
She clarified that official records showed the office space linked to the PFIPC actually belongs to the Office of the Secretary to the Government of the Federation and is designated for use by the OSGF and presidential bodies.
Walson-Jack, however, revealed that during the 2025 Annual Manpower Budget Defence Exercise, documents relating to the council were submitted by Patricia Akhigbe, including the appointment letter of its Director-General and details of its mandate. Based on those submissions, the request was processed alongside those of 87 other Ministries, Departments and Agencies.
She said an authorised establishment for 314 positions was subsequently issued to the council and a recruitment waiver followed shortly afterwards. However, she maintained that her office neither recruited personnel for the council nor deployed any staff to it. She disclosed that Akhigbe has since been invited for questioning by the police and advised investigators to seek additional clarification from the Office of the Secretary to the Government of the Federation.
Following the hearing, committee chairman Yusuf Gagdi directed the Secretary to the Government of the Federation, George Akume, to appear before the panel on Thursday. He also summoned the Inspector-General of Police, the Ministers of Foreign Affairs, Finance, Justice, Budget and National Planning, alongside the Accountant-General of the Federation and heads of several key government agencies.
Meanwhile, acting on President Bola Tinubu's directive issued on July 7 for the ICPC to conclude investigations into the PFIPC within 30 days, Chief of Staff Femi Gbajabiamila appeared before the commission's headquarters in Abuja on Monday, where he provided testimony and answered questions before returning to work.
His lawyer, Jiti Ogunye, confirmed that Gbajabiamila honoured the commission's invitation in full cooperation with investigators and volunteered information considered relevant to the probe. Sources within the commission also confirmed that the presidential aide willingly assisted investigators during the session.
Gbajabiamila's appearance came as he instituted a N15 billion defamation suit against Adeyemi before the High Court of the Federal Capital Territory. Through his legal team led by Kemi Pinheiro, SAN, he is seeking N10 billion in general damages, N5 billion in aggravated damages and N200 million in litigation costs.
The suit followed allegations made by Adeyemi that Gbajabiamila demanded a 48 per cent kickback from the council's alleged N27.3 billion take-off grant and that N400 million had already been paid through a proxy while an additional N200 million was required to secure presidential approvals. Gbajabiamila denied ever meeting Adeyemi, communicating with him or authorising anyone to act on his behalf. He is also asking the court to compel a public apology and retraction to be published in five national newspapers and pinned across Adeyemi's social media platforms for 30 days.
Before his arrest in Osun State last week, Adeyemi claimed during an interview that he personally lobbied officials of the Budget Office to facilitate the inclusion of the council in the 2026 Appropriation Act. He maintained that he paid no bribes but only promised employment opportunities and expressed surprise that the agency eventually appeared in the 2026 budget with a N1.3 billion allocation after he had already been arrested.
Adeyemi also denied ever meeting Gbajabiamila personally, insisting that all his dealings were handled through Dolapo Tanimola, whom police said died in a hotel fire in Abuja on October 22, 2025, five days before Adeyemi's first arrest. The allegations remain unverified, while the Budget Office has yet to issue a public response.
The arrest of Adeyemi has continued to divide opposition figures. National Coordinator of the Obidient Movement Worldwide, Dr Yunusa Tanko, called for a public inquest into the scandal, describing it as a national disgrace that should not be investigated in secrecy.
The Social Democratic Party's National Publicity Secretary, Rufus Aiyenigba, supported Adeyemi's arrest but argued that Gbajabiamila should also step aside pending the outcome of investigations, citing what he described as recurring allegations against the presidential aide.
Similarly, National Publicity Secretary of the National Democratic Congress, Osa Director, insisted that Gbajabiamila should temporarily vacate office to guarantee the credibility of the investigation, drawing parallels with the suspension of former Secretary to the Government of the Federation, Babachir Lawal, during the Buhari administration.
Adeyemi is scheduled to reappear before the Federal High Court in Abuja on July 27 alongside two other defendants identified only as Femi and Anu, who are currently at large.
ADEOLA KUNLE
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