The Central bank of Nigeria, CBN has been dragged into the controversy between President Bola Ahmed Tinubu’s Chief of Staff, Femi Gbajabiamila and one Adedeji Matthew, parading himself as the Director General of the Presidential Foreign Intervention Promotion Council, PFIPC.
The agency has been declared to be no-existent by the federal government, who has accused the DG of forging the letter of his appointment, and operating a fictitious agency.
Recall that the DG has accused Gbajamiamila of collecting N400 million bribe from him, through a proxy to secure the appointment, with the balance of N200 million yet to be paid to the CoS.
He accused CoS of coming after him because of his failure to pay the N200 million balance, apart from alleging that the CoS demanded 48 percent of the over N24 billion take off budget approved for the agency.
The presidency had in its reaction to the allegation, in a letter issued by Bayo Onanuga, cleared Gbajabiamila of any wrongdoing, after declaring Adedeji as a serial fraudster.
The federal government has dragged him to court for forgery, and for trying to bring disrepute to the Nigerian Presidency.
According to the statement issued on Wednesday the Presidency said security agencies had been investigating Matthew since October 2025 after the Office of the Chief of Staff petitioned the Department of State Services and the Nigeria Police Force over alleged forgery of official appointment letters and impersonation of government officials.
He was accused of trying to malign the integrity and credibility of the Presidency by claiming that he was issued an appointment letter.
“The attention of this office has been drawn to the activities of certain individuals and groups engaged in the forgery of official appointment letters purportedly issued from my office,” the Chief of Staff stated in the petition.
“The above development not only constitutes a serious criminal act but also undermines the integrity of the Presidency and the credibility of official government communication.
“I therefore urge you to initiate a thorough investigation to identify and apprehend those involved and also to uncover the network facilitating the forgery,” the statement read.
But reacting, Addedeji accused the CBN and other government officials, including the SGF, of playing a critical role in the saga.
In some of the viral video circulating online, Adedeji was captured in photographs with some top government officials, including the Deputy Speaker of the House of Representatives, Benjamin Kalu, Executive Chairman of the Economic and Financial Crimes Commission, EFCC Ola Olukoyede, among others, who Adedeji had met as the DG of the agency, he has also met with foreign officials, including diplomats as captured in the viral videos and photographs.
Adedeji insists that he’s not an impostor, as being alleged by the federal government, saying the agency has been operating since 2024, citing for instance, the account opened with the CBN as a proof.
He’s asking how an agency was allowed to operate different accounts with the nation’s apex bank if indeed is not authentic.
According to checks, the agency operated 34 bank accounts, including nine with the CBN for the time it operated.
Conventionally, government agencies in the country are required to operate account with the CBN to enhance their local and foreign transactions.
Adedeji insist that the fact that the agency was allowed to operate CBN accounts is a proof that the agency is not fictitious as the government has claimed.
He said the CBN Governor and his management approved the opening of the nine account, saying the apex bank cannot be operating fraudulent accounts for an agency of the government except it’s authentic.
So, what COS is telling Nigerians is that the CBN Governor with His pedigree together with his 4 deputies, 16 capable directors and 5,300 staffs are clueless to not have detected a fraudulent document for opening of account?” he queried in his statement.
Adding that “Is it even possible to open an account with fictitious documents in a commercial bank in Nigeria today, talk less of the CENTRAL BANK OF NIGERIA? Please note that the process of opening an account with CBN starts from Office of Accountant General of the Federation. Therefore, COS is telling The Accountant General of the Federation who possesses necessary qualifications and experience of 30 years, his pool of Directors, Deputy Directors, Assistant Directors and other Professional experts in his office ARE SIT DOWN LOOK CIVIL SERVANTS not to have detected forged documents?”
Following his reaction, not a few Nigerians have called on the CBN to explain the role it played in the Gbajabiamila/ PFIPC Saga.
Questions CBN Must Answer
Some of the questions being asked is why the CBN allowed the said accounts to be opened, and whether there was an approval from the federal government to the apex bank to do so. Who are the officials of departments in the CBN responsible for opening such accounts? Did the CBN Governor, acting on instruction from the Presidency or relevant federal government officials, direct his subordinate to open the accounts on behalf of the agency?
How much has been transacted within the said accounts since the agency started operation? Last but not the least, is whether the CBN received any official communication from the President’s CoS regarding the agency.
Did some officials of the CBN benefit by opening the accounts, considering that the federal government said the agency was not known to it, and as such could not have approved its engagement with the CBN? And has the federal government issued an official query to the CBN Governor following the saga? What is Cardoso’s response?
These and many other salient questions, will assist in clearing the controversy on the saga that’s currently shaking the Nigerian Presidency, according to analysts.
The spokesperson for the CBN Sidi Wakama has yet to react to the issue.
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