CBN Says, “We Opened the Accounts… But Nobody Used the Keys”

A fresh twist has emerged in the growing controversy surrounding the Presidential Foreign Investment Promotion Council (PFIPC), as the Central Bank of Nigeria (CBN) says it opened two foreign currency accounts only after receiving a directive from the Office of the Accountant-General of the Federation (OAGF). In a development that sounds like a bureaucratic relay race, the apex bank insists the accounts were never funded, never operated, and remained as quiet as an empty bank vault. The revelation adds another chapter to an already heated public debate over how the PFIPC was established, managed, and presented to Nigerians.

The Great Account Mystery Most Be Explained

The CBN’s explanation effectively counters earlier claims suggesting that the bank independently created the controversial accounts. According to the bank, the two domiciliary accounts—one in United States dollars and another in British pounds sterling—were opened strictly in compliance with instructions from the Office of the Accountant-General of the Federation. In other words, the CBN says it was following official procedure rather than improvising financial policy.

In classic Nigerian fashion, the accounts have now become the financial equivalent of a house built but never occupied. They reportedly remained unfunded and inactive throughout their existence. If bank accounts could speak, these ones might simply complain about being opened for business without ever receiving a single customer. Behind the humour, however, lies an important issue of transparency, accountability and public confidence in government financial processes.

Questions Refuse to Close Why More Clues Surfaces

The controversy surrounding the PFIPC has attracted increasing public attention because it touches on the handling of public institutions, government directives and financial governance. Recent reports indicate that questions have been raised over the council’s legal framework, administrative processes and the sequence of decisions that led to the creation of the accounts. The latest clarification from the CBN shifts attention toward the chain of official authorisations rather than the accounts themselves.

For observers, the bigger issue is no longer whether the accounts existed—they clearly did—but why their creation generated conflicting narratives among government institutions. Satirically speaking, it appears everyone agrees the door was opened, but nobody wants to admit who expected visitors. As various agencies continue providing explanations, Nigerians are watching closely for a complete picture of how the PFIPC was handled and whether additional official clarifications will emerge.

The CBN’s latest statement introduces another significant piece to the PFIPC puzzle by confirming that the accounts were opened on the directive of the Office of the Accountant-General while insisting they were never funded or used. Whether this clarification settles the controversy or raises even more questions remains to be seen. OGM News NG will continue monitoring official responses, emerging documents and future developments as this story unfolds.