The Office of the Accountant-General of the Federation (OAGF) has denied claims that the controversial Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PEAC/PFIPC) operates an active account with the Central Bank of Nigeria (CBN) or has received public funds.
The clarification comes amid ongoing investigations into the activities of the organisation and allegations surrounding its legal status.
Speaking at the weekend, the Director of Press and Public Relations in the OAGF, Bawa Mokwa, said although an application was made to open a CBN account for the organisation, the process was never completed because the required documentation was not submitted.
According to him, the account was never activated after the individuals involved failed to provide the names of officials who would serve as authorised signatories.
"You cannot open an account at the CBN without authorisation from the Accountant-General," Mokwa said, explaining that while an appointment letter was presented during the application process, the account remained incomplete and has never received any funds.
"The account has not seen the light of day. It has not received one kobo because it is not completely operational," he added.
Mokwa said the absence of a functional account meant there was no channel through which the OAGF could release government funds to the organisation.
"That shows he has not collected a dime. The Accountant-General has not released a dime because there is no account into which any money could be paid," he said.
He also dismissed reports that the Federal Government had allocated funds to the organisation under the 2026 budget, noting that the council had not reached the stage where it could receive budgetary releases.
The OAGF spokesman further denied claims that salaries had been paid to workers of the organisation, insisting that no recruitment had been carried out through the procedures required for federal establishments.
According to him, federal agencies must first obtain approvals from the Federal Character Commission (FCC), the Budget Office and the Federal Civil Service Commission (FCSC) before employees can be enrolled on the federal payroll.
He said none of those requirements had been completed by the PEAC/PFIPC.
Meanwhile, the Presidency said a police investigation established that both the signature of the Chief of Staff to the President and the State House letterhead used on the purported appointment letter linked to the organisation were forged.
Senior Special Assistant to the President on Media and Publicity, Temitope Ajayi, said the findings confirmed that the documents used to claim official authority were not genuine.
He also noted that the appointment process described in the letter was inconsistent with established government procedures, explaining that the Chief of Staff does not issue appointment letters for government agencies or extra-ministerial bodies.
According to Ajayi, presidential approvals are conveyed through the Chief of Staff to the Secretary to the Government of the Federation (SGF), who formally issues appointment letters.
The Presidency also referenced an October 21, 2025 memorandum from the Office of the Secretary to the Government of the Federation (OSGF), which declared the PFIPC an unauthorised organisation with no legal or administrative backing.
The memorandum advised government agencies to disregard engagements from the group and report any attempt by it to interfere with official responsibilities.
The alleged promoter of the organisation, Prince Adeniyi Adeyemi, is currently facing prosecution over allegations including forgery and impersonation and is expected to return to court later this month as proceedings continue.
