Atiku Demands Apology — and Resignation — as CBN and Accountant-General Contradict Each Other over ‘Phantom’ Council Accounts
Thursday, 23 July 2026
By Atlantic Digest National Desk
The controversy surrounding the Presidential Foreign Investment Promotion Council (PFIPC) deepened on Wednesday as former Vice President Atiku Abubakar demanded that President Bola Ahmed Tinubu apologise to Nigerians, order an independent investigation into the affair and, if unable to restore public confidence, resign from office.
In a statement issued through his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku argued that conflicting testimonies from key government institutions had exposed what he described as a serious breakdown in accountability at the highest levels of government.
The latest twist emerged during the House of Representatives ad hoc committee investigation into the PFIPC, chaired by Rep. Yusuf Gagdi. Appearing before lawmakers, the Central Bank of Nigeria (CBN), represented by its Director of Banking Services, Hamisu Abdullahi, disclosed that it opened two domiciliary accounts—one in US dollars and another in British pounds sterling—for the PFIPC on 30 July 2025 following a formal mandate from the Office of the Accountant-General of the Federation dated 29 July 2025.
According to the CBN, although the accounts were successfully created, they were never funded or operated because no authorised signatories were submitted.
The testimony directly contradicted earlier statements by the Office of the Accountant-General, which had maintained that while an application to open the accounts was initiated, the process was never completed due to incomplete documentation. Accountant-General Shamseldeen Ogunjimi had also informed lawmakers that no bank accounts were ever opened in the council’s name.
Seizing on the discrepancy, Atiku urged the National Assembly to summon CBN Governor Olayemi Cardoso and the Accountant-General to personally explain the conflicting accounts, insisting that both versions “cannot be true.” He also criticised the continued silence of the Attorney-General of the Federation over the matter.
Committee proceedings have further revealed that the PFIPC—despite being described by the Presidency as a non-existent agency—received a ₦1.3 billion allocation in the 2026 Appropriation Act. The Head of the Civil Service of the Federation, Didi Walson-Jack, testified that her office never allocated office accommodation to the council, adding that the offices it reportedly occupied were officially assigned to the Office of the Secretary to the Government of the Federation.
The allegations remain strongly contested and are currently the subject of ongoing legislative investigations and a police inquiry. The Presidency maintains that the council’s self-proclaimed Director-General, Prince Adeniyi Adeyemi, allegedly used forged documents—including a purported appointment letter bearing the forged signature of the President’s Chief of Staff, Femi Gbajabiamila—to obtain official recognition. Investigators have also alleged the discovery of 34 bank accounts linked to Adeyemi.
Adeyemi has denied the allegations, insisting the PFIPC was legitimate and pointing to its budgetary allocation and CBN accounts as evidence. He has also accused Gbajabiamila of receiving a ₦400 million bribe, an allegation firmly rejected by the Presidency and the Chief of Staff. As of the time of filing this report, no court has established wrongdoing against any of the individuals involved, and investigations remain ongoing.
