The Central Bank of Nigeria (CBN) has told the House of Representatives that it opened two domiciliary accounts for the controversial Presidential Foreign Investment Promotion Council (PFIPC) on the instruction of the Office of the Accountant-General of the Federation (OAGF), contrary to earlier claims that no such accounts existed.

The disclosure was made on Monday during the inaugural sitting of the House Ad Hoc Committee investigating the legal status, operations and budgetary inclusion of the PFIPC.

Representing the CBN Governor, Director of Banking Services, Hamisu Abdullahi, said the apex bank received a formal mandate from the OAGF on July 29, 2025, directing it to open one United States dollar account and one Pound Sterling account for the council.

He explained that after verifying the authenticity of the directive through the bank’s internal procedures, the accounts were opened on July 30, 2025.

According to Abdullahi, the accounts have remained inactive since their creation because the council never provided authorised signatories required for their operation.

“There have been no deposits, withdrawals, foreign exchange allocations, remittances or any other financial transactions. Both accounts have maintained a zero balance from inception,” he told lawmakers.

The revelation comes amid growing controversy surrounding the PFIPC, which received over ₦1.3 billion in the 2026 federal budget despite questions over its legal existence.

The alleged Director-General of the council, Prince Adeniyi Adeyemi, had claimed he paid ₦400 million to the President’s Chief of Staff, Femi Gbajabiamila, through a third party to secure his appointment and further alleged that Gbajabiamila demanded 48 per cent of the council’s proposed ₦27.3 billion take-off grant.

Gbajabiamila has denied the allegations, filed a ₦15 billion defamation suit against Adeyemi and has since honoured an invitation by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) as part of the ongoing investigation.

Also appearing before the committee, the Head of the Civil Service of the Federation, Mrs Didi Esther Walson-Jack, said her office neither established the PFIPC nor deployed personnel or allocated office accommodation to the council.

She disclosed that although the council sought approval for its organisational structure and requested a recruitment waiver, the documents submitted as its enabling legal instrument failed to meet the required legal standards.

The House committee subsequently directed the CBN to submit detailed records relating to the accounts while expanding its investigation into the circumstances surrounding the council’s creation, funding and inclusion in the federal budget.

Inaugurating the panel, Speaker of the House of Representatives, Abbas Tajudeen, said the investigation was intended to establish the facts surrounding the PFIPC and ensure transparency, accountability and compliance with the law.

He stressed that the probe was not aimed at individuals but at safeguarding the integrity of public institutions, urging all invited officials to provide truthful and complete information.

Chairman of the committee, Rep. Yusuf Adamu Gagdi, assured Nigerians that the investigation would be conducted fairly, professionally and without bias, promising that all relevant stakeholders would be given a fair hearing before the panel submits its report to the House.

Meanwhile, the committee has invited several senior government officials and heads of key agencies, including the Ministers of Finance, Justice, Budget and Economic Planning, the Secretary to the Government of the Federation, the CBN Governor, the Auditor-General, the EFCC, ICPC, DSS and the Inspector-General of Police, to assist in the ongoing investigation.

Anambra State Governor, Prof. Chukwuma Soludo, has unveiled a statue in honour of renowned Nigerian author, Chinua Achebe, pledging his administration’s commitment to preserving the literary icon’s legacy while nurturing a new generation of world-class writers.

The monument, unveiled on Saturday at Ugwunwasike Roundabout in Ogidi, Idemili North Local Government Area, commemorates the enduring contributions of Achebe, whose works continue to shape global conversations on African literature and identity more than a decade after his death.

Speaking during the ceremony, Governor Soludo described Achebe as a symbol of excellence whose influence transcends generations and national boundaries.

He said the state government would continue to invest in initiatives that encourage literary creativity and intellectual development, expressing confidence that more globally acclaimed writers could emerge from Anambra State.

“Achebe represents excellence and remains one of the world’s greatest literary figures. We will continue to support initiatives that will inspire the emergence of more Achebes in Idemili North and across Anambra State,” the governor said.

The event attracted government officials, traditional rulers, community leaders, literary enthusiasts and other dignitaries who gathered to celebrate the life and achievements of the celebrated novelist.

The Mayor of Idemili North Local Government Area, Stanley Nkwoka, praised both Achebe and Governor Soludo, describing them as exceptional ambassadors whose accomplishments have projected Anambra State positively on the global stage.

Widely regarded as the father of modern African literature, Achebe gained international recognition with his groundbreaking 1958 novel, Things Fall Apart, which has been translated into numerous languages and remains one of the most widely studied African literary works worldwide.

The newly unveiled monument is expected to strengthen efforts to preserve Achebe’s legacy while promoting cultural heritage and literary tourism in Ogidi, his hometown.

Achebe passed away on March 21, 2013, in Boston, Massachusetts, at the age of 82, and was laid to rest on May 23, 2013, in Ogidi, Anambra State.

The presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has explained that his decision to pick former Kano State Governor, Rabiu Kwankwaso, as his running mate for the 2027 presidential election was informed by their shared commitment to tackling poverty through education and economic development.

Speaking in an interview published on Sunday, Obi said both leaders share a common philosophy centred on investing in human capital and creating opportunities that would improve the lives of Nigerians.

According to him, Kwankwaso’s long-standing belief in education and poverty reduction aligns closely with his own vision for national transformation.

“Kwankwaso has the philosophy of pulling people out of poverty. I have the same philosophy. He believes in education, and you cannot transform any society without education,” Obi said.

The former Anambra State governor stressed that education would remain the cornerstone of his administration if elected, arguing that Nigeria’s future depends on developing its human capital.

Obi also dismissed reports of disagreements between himself and Kwankwaso, insisting that both men remain united in their quest to build a better Nigeria ahead of the 2027 general election.

He attributed many political disputes in the country to what he described as “transactional governance,” maintaining that his alliance with Kwankwaso is driven by a desire for transformational leadership rather than personal or political gain.

“We are not into transactional governance. We want to transform society, create opportunities and lift people out of poverty,” he said.

Reflecting on why a similar alliance did not materialise before the 2023 presidential election, Obi said he preferred to focus on the future instead of dwelling on missed opportunities.

He noted that discussions should centre on Nigeria’s future rather than past political calculations.

Addressing concerns about integrating supporters of the Obidient Movement and the Kwankwasiyya Movement, Obi expressed confidence that both groups are united by a common aspiration for a better country.

According to him, the movements are driven by a shared desire to see meaningful reforms and improved governance, making collaboration easier.

Obi and Kwankwaso contested separately in the 2023 presidential election under the Labour Party and the New Nigeria Peoples Party, respectively.

Both politicians later joined the Nigeria Democratic Congress after exiting an earlier opposition alliance, citing internal disputes and legal challenges within their former political platform.

Senior Advocate of Nigeria, Mrs. Oyinkansola Badejo-Okusanya, has been elected the 33rd President of the Nigerian Bar Association (NBA), defeating two fellow senior lawyers in the association’s 2026 national election.

The results were announced on Sunday at the NBA National Secretariat in Abuja by the Chairman of the Electoral Committee of the Nigerian Bar Association (ECNBA), Aham Ejelam, SAN, after an election that experienced delays due to technical issues and a cyberattack.

Badejo-Okusanya secured 12,317 votes, representing 47.18 per cent of the total ballots cast, to emerge victorious ahead of her closest rival, Lateef Akangbe, SAN, who garnered 7,934 votes, or 30.39 per cent.

The third candidate, Olumuyiwa Akinboro, SAN, polled 5,855 votes, representing 22.43 per cent.
According to the ECNBA, a total of 26,106 votes were cast in the election.

With the victory, Badejo-Okusanya will lead the NBA for the 2026–2028 term and becomes only the second woman to occupy the office, following Priscilla Kuye, who served as the association’s president between 1991 and 1992.

Other officers elected include Oghenero Okoro as First Vice-President with 11,024 votes, Afam Okeke as General Secretary with 8,478 votes, Aghogho Gladys as Assistant General Secretary with 14,312 votes, and Chinelo Audrey Ofoegbunam as Welfare Secretary with 14,911 votes.

The president-elect was absent during the announcement of the results.

A member of her campaign team, Aminu Gadanya, SAN, explained that her absence was due to a flight delay, adding that she remains committed to promoting unity within the association by extending a hand of fellowship to her opponents.

Speaking after the declaration, outgoing NBA President, Afam Osigwe, SAN, revealed that the election survived attempts to undermine the process, including a cyberattack that forced the electoral committee to rebuild and migrate its information technology infrastructure to a more secure server.

He commended the resilience of the electoral committee and urged the newly elected officers to be magnanimous in victory, while encouraging unsuccessful candidates to support the incoming leadership in the interest of the legal profession.

Osigwe also stressed the need to strengthen cybersecurity and data protection within the association, noting that the challenges encountered during the election underscored the importance of safeguarding future electoral processes.

He further disclosed that the Electoral Committee would undertake a comprehensive review of the election to identify lessons from the exercise and improve the integrity, transparency and security of future NBA elections.