AGF Confirms No CBN Account for Supposed Presidential Council

The Office of the Accountant-General of the Federation says it never authorised or opened an account at the Central Bank for the so-called Presidential Economic Advisory Council. Although the council appeared in the 2026 Appropriation Act with a ₦1.3 billion allocation, no funds were released. According to Bawa Mokwa, the council’s account-opening stalled because the required authorised signatories were never submitted. Without the Accountant-General’s approval and valid signatories, the council could not operate a CBN account. Mokwa also clarified that no staff salaries were paid. The council never secured necessary clearances from the Federal Character Commission, the Budget Office or the Federal Civil Service Commission, so it was never registered on the federal payroll system. The controversy centres on Adeniyi Adeyemi, who presented himself as the council’s Director-General. He was arrested in October 2025 over allegations of forgery and running multiple sham bank accounts. Adeyemi denies the charges and has made counter-allegations against the Presidency. He is due back in court on July 27.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.