Amidst a stunning claim by a businessman, the committee said it would meet Adeyemi at an undisclosed time and location in the presence of his legal representatives and the police to conclude its public hearing
The Managing Director of Divine Dopacy Nigeria Limited, Mr. Gbenga Collins, on Tuesday told the House of Representatives that he paid N400 million to the purported Director-General of the Presidential Foreign Investment Promotion Council (PFIPC), Prince Adeniyi Adeyemi, after being promised a contract to renovate and furnish what he believed was the official residence of the agency’s chief executive.
Collins gave the testimony while appearing before the House ad-hoc committee investigating the alleged establishment and operations of the PFIPC, chaired by Rep. Yusuf Gagdi.
He said he was convinced the council was a legitimate Federal Government agency because of Adeyemi‘s apparent access to official facilities, government vehicles, security personnel and high-profile visitors.
Introducing himself as the Managing Director of Divine Dopacy Nigeria Limited, Collins told lawmakers that his agribusiness company, established in October 2017, sources agricultural produce from farmers for export.
He recalled meeting Adeyemi, a fellow indigene of Ogbomoso, in December 2024 during a community event before being invited to Abuja in early 2025 to discuss a business opportunity.
According to him, an official vehicle picked him up from the airport and conveyed him to an office at the Federal Secretariat.
“When I arrived at the airport, he sent an official car to pick me from the airport to his office at the Federal Secretariat,” Collins said.
He said the office was guarded by security personnel and frequented by prominent individuals, while the Lexus SUV that conveyed him bore official Federal Government registration plates.
“It was my first time in Abuja. I saw police officers with him, government vehicles and many dignitaries. Everything made me believe I was dealing with a genuine government agency,” he added.
Collins said Adeyemi introduced himself as the Director-General of both the Presidential Economic Advisory Council (PEAC) and the Presidential Foreign Investment Promotion Council (PFIPC).
He further alleged that Adeyemi offered his company a contract to renovate and furnish an official residence purportedly allocated to him as Director-General and personally took him to inspect the property the following day.
“He told me he wanted to renovate and refurbish the official house assigned to him and asked if my company could handle the project. We visited the property with his staff and several security escorts,” he said, adding that although he could not remember the exact location, he still had photographs of the building.
Collins told the committee that discussions progressed until April 2025 when he was invited back to Abuja and presented with what appeared to be a contract award letter, scope of work and an agreement between his company and the purported agency.
He said Adeyemi subsequently demanded N400 million as proof of his company’s financial capacity and to facilitate mobilisation for the contract.
“I was told the payment would demonstrate that my company had the financial strength to execute the project and would fast-track mobilisation,” he said.
According to Collins, he raised the funds from business associates who trusted his judgment because he had personally visited Adeyemi‘s office and believed he was dealing with a genuine government institution.
He disclosed that the N400 million was paid in five instalments between May and July 2025.
Three payments of N100 million each were made on May 16, May 22 and May 28 into a Guaranty Trust Bank account belonging to World Entrepreneurs Limited. An additional N80 million was paid into the same account on June 20, while the outstanding N20 million was transferred on July 29 to an Access Bank account belonging to Sunshine Confectionery and Catering Services.
“I kept telling him the money came from people doing business with me because I believed this was a genuine opportunity after visiting his office,” Collins said.
He said Adeyemi repeatedly assured him that mobilisation would commence in August 2025, but nothing happened.
According to him, Adeyemi later blamed the delay on security concerns and subsequently promised payment in November before eventually becoming unreachable.
“As pressure mounted from those who contributed the money, I kept travelling to Abuja looking for him until my lawyer told me I had been scammed,” he said.
Collins told lawmakers that his lawyer petitioned the Economic and Financial Crimes Commission (EFCC) on November 13, 2025, and that he formally adopted the petition six days later.
He said EFCC investigators subsequently invited persons linked to the bank accounts used for the payments but alleged that Adeyemi repeatedly failed to honour invitations, citing ill health through his lawyer.
“The EFCC has been trying to invite him. According to the investigating officer, his lawyer kept saying he would appear. Since then, I have not heard anything further, but they are on top of the matter,” he said.
Appealing to lawmakers for intervention, Collins said the incident had crippled his business and forced him to sell personal property.
“I have been frustrated. The people who gave me the money are mounting pressure on me. I have started selling my property and my business is no longer doing well,” he lamented.
During questioning, Gagdi asked whether the N400 million constituted a bribe to secure the contract.
Collins rejected the suggestion, insisting that he paid the money because he was told it was a prerequisite for mobilisation and contract execution.
He also admitted that he did not go through the statutory public procurement process before accepting the purported contract.
Collins further informed the committee that officials of the Nigeria Police Force’s Cybercrime Unit handling aspects of the investigation had told him Adeyemi did not deny receiving the N400 million.
Asked whether he converted the money to United States dollars before making the payments, Collins answered in the negative.
Reps Summon FRSC Corps Marshal
Following the testimony, the committee expressed concern over the use of official Federal Government number plates on vehicles allegedly associated with the purported agency.
Lawmakers noted that the government registration numbers significantly influenced Collins‘ belief that PFIPC was a legitimate government institution.
Consequently, the committee summoned the Corps Marshal of the Federal Road Safety Corps (FRSC) to appear before it on Thursday to explain the process for issuing official government number plates and clarify how vehicles allegedly linked to the purported council obtained them.
Responding to questions over Adeyemi‘s absence from the hearing, Committee Chairman Yusuf Gagdi explained that the committee could not compel his appearance because he remains in police custody under a valid court order.
“We are not refusing to invite Prince Adeniyi. The police have informed us that he is in their custody based on a court order, and as lawmakers we must respect the constitutional separation of powers,” Gagdi said.
He disclosed that the committee would instead meet Adeyemi at an undisclosed time and location in the presence of his legal representatives and the police to avoid jeopardising ongoing investigations by the EFCC, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and other security agencies.
Gagdi said the committee would conclude its public hearing within the week before presenting its findings to the House of Representatives.
The panel is investigating the circumstances surrounding the alleged establishment and operations of the Presidential Foreign Investment Promotion Council, including allegations of forgery, impersonation, financial impropriety and abuse of public institutions.
