OAGF says alleged fake presidential council has no operational 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 a functional account with the Central Bank of Nigeria (CBN), insisting that no public funds or salaries have been paid to the organisation.

 

The clarification comes amid ongoing controversy over the alleged fake presidential council, whose promoter, Prince Adeniyi Adeyemi, is facing prosecution over allegations of forgery, impersonation and related offences.

 

Speaking at the weekend, the Director of Press and Public Relations at the OAGF, Bawa Mokwa, said although an application to open a CBN account was initiated, the process was never completed because the required documentation to activate the account was not submitted.

 

“You cannot open an account at the CBN without authorisation from the Accountant-General. The Accountant-General will authorise them to open an account at the CBN,” he said.

 

Mokwa explained that the individual who approached the OAGF presented an appointment letter relating to what was claimed to be an existing government agency. However, he noted that the account never became operational because the names of authorised signatories were not provided.

 

“The account till today has not seen the light of day. It has not seen one kobo because the account is not completely operational,” he said.

 

According to him, the absence of an operational account meant there was no channel through which government funds could be released to the organisation.

 

“That portrays that he has not collected a dime. The AGF has not released a dime to him because they don’t even have a place where the money can be paid,” Mokwa added.

 

He also denied reports that the organisation received budgetary allocations or paid salaries to workers, explaining that no recruitment was carried out in line with procedures required for federal agencies.

 

Mokwa said any federal agency seeking to recruit staff must first obtain approvals from the Federal Character Commission, the Budget Office and the Federal Civil Service Commission before employees can be enrolled on the Integrated Payroll and Personnel Information System (IPPIS).

 

“He cannot capture even one name without those approvals because once they are captured, payment will come from the budget,” he said.

 

Meanwhile, the Presidency said a police investigation had established that both the signature of the Chief of Staff to the President and the State House letterhead used on the purported appointment letter were forged.

 

Senior Special Assistant to the President on Media and Publicity, Temitope Ajayi, said the report confirmed that the documents used to claim official authority were fake.

 

“We have seen the police report on the appointment letter and it was clearly established that the signature of the Chief of Staff was forged.

 

“The State House letterhead was forged. In fact, in our own letterheads, we don’t put phone numbers; those who forged the letterheads put phone numbers,” Ajayi said.

 

He further explained that the Chief of Staff does not issue appointment letters to heads of government agencies, noting that such appointments are approved by the President and formally issued by the Office of the Secretary to the Government of the Federation (OSGF).

 

The Presidency’s position is supported by an official memorandum issued by the OSGF on October 21, 2025, declaring the PFIPC an unauthorised organisation with no legal or administrative backing.

 

The memo, addressed to the Nigerian Investment Promotion Commission (NIPC), directed government agencies to disregard any engagement with the organisation and report any interference with official responsibilities.

 

Adeyemi is expected to return to the Federal High Court later this month as proceedings in the case continue.