PFIPC: CBN opens govt accounts only on OAGF authorisation - Director tells Reps probe panel

By Gift ChapiOdekina, Abuja

A Director at the Central Bank of Nigeria (CBN), Hamisu Abdullahi, has told the House of Representatives Ad-hoc Committee investigating the alleged establishment of the Presidential Foreign Investment Promotion Council (PFIPC) without a valid legal framework that the apex bank only opens accounts for government agencies upon receiving formal approval from the Office of the Accountant-General of the Federation (OAGF).

Abdullahi, who represented the CBN Governor before the committee on Monday, explained that the bank does not have direct dealings with Ministries, Departments and Agencies (MDAs) on account opening, closure or change of account details except through the OAGF.

“ As a banker to the Federal Government, the Central Bank has responsibility for opening all accounts for Ministries, Departments and Agencies, with the exception of those exempted from the Treasury Single Account,” he said.

He added that, “We do not have any direct engagement with any ministry, department or agency for account opening, account closure or change of account nomenclature except through the Office of the Accountant-General of the Federation.”