A Director at the Central Bank of Nigeria, Hamisu Abdullahi, has told the House of Representatives Ad-hoc Committee investigating the alleged establishment of the Presidential Foreign Investment Promotion Council without a valid legal framework that the apex bank only opens accounts for federal government agencies upon receiving authorisation from the Office of the Accountant-General of the Federation.
According to Vanguard Newspaper, Abdullahi, who represented the CBN Governor before the committee on Monday, said the bank has no direct dealings with Ministries, Departments and Agencies on account opening, closure or changes to 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, “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.”
Abdullahi disclosed that the CBN received a mandate from the OAGF dated July 29, 2025, directing it to open two domiciliary accounts for the Presidential Economic Advisory Council/Presidential Foreign Investment Promotion Council.
