The Managing Director of Divine Dopacy Nigeria Limited, Gbenga Collins, has narrated how he allegedly lost ₦400 million to the purported Director-General of the Presidential Foreign Investment Promotion Council (PFIPC), Prince Adeniyi Adeyemi, after being convinced he was dealing with a genuine Federal Government agency.
Collins made the revelation on Tuesday while testifying before the House of Representatives Ad-hoc Committee investigating the alleged establishment and operations of the PFIPC.
He told lawmakers that he believed the council was a legitimate government institution because Adeyemi operated from an office at the Federal Secretariat in Abuja, travelled with security personnel, used official vehicles bearing Federal Government number plates, and received visitors in what appeared to be an authentic government office.
The businessman, a graduate of the Federal University of Agriculture, Abeokuta, said he first met Adeyemi during a programme in Ogbomoso, Oyo State, in December 2024 before being invited to Abuja early in 2025 for what was presented as a business opportunity.
According to Collins, Adeyemi sent an official vehicle to pick him up from the airport and took him to his office inside the Federal Secretariat.
“When I got there, I saw a lot of prominent people in his office, security officers guarding the premises, and official vehicles. It was my first time in Abuja, so I had no reason to doubt that he was truly a government official,” he told the committee.
Collins said Adeyemi introduced himself as the Director-General of both the Presidential Economic Advisory Council and the Presidential Foreign Investment Promotion Council.
He further claimed that Adeyemi informed him that he had been allocated an official residence and wanted Divine Dopacy Nigeria Limited to handle its renovation and furnishing.
According to Collins, Adeyemi personally took him to inspect the property alongside several staff members and security operatives travelling in a convoy of more than five vehicles.
“He showed me the house and explained the refurbishment work they wanted done,” Collins said.
He told lawmakers that in April 2025, Adeyemi handed his company a contract award letter, scope of work and an agreement for the project.
Collins said he was subsequently instructed to pay ₦400 million as proof of his company’s financial capacity and to facilitate mobilisation for the contract.
He disclosed that between May and June 2025, he transferred ₦380 million in four instalments into a Guaranty Trust Bank account belonging to World Entrepreneurs Limited, while the remaining ₦20 million was paid on July 29, 2025, into an Access Bank account belonging to Sunshine Confectionery and Catering Services.
He explained that the money was sourced from business associates who trusted him because he had personally visited Adeyemi’s office and believed the contract was genuine.
“When I finished the payment, he assured me mobilisation would begin in August, but nothing happened. He kept giving excuses about security issues and later promised payment in November,” Collins said.
The businessman said he became suspicious after repeated attempts to reach Adeyemi failed, prompting him to consult a lawyer.
“My lawyer was the first person who told me I had been scammed,” he said.
Collins disclosed that a petition was submitted to the Economic and Financial Crimes Commission (EFCC) in November 2025 and that investigators informed him Adeyemi repeatedly failed to honour invitations, allegedly citing ill health through his lawyer.
Appealing to lawmakers, Collins said the incident had crippled his business and forced him to sell personal property to meet obligations to those who contributed the money.
“I have been frustrated by the people who gave me the money. I have started selling my property and my business has not been the same,” he lamented.
He insisted that he acted in good faith because everything surrounding Adeyemi suggested he was dealing with a legitimate government official.
During the hearing, committee chairman Yusuf Gagdi questioned whether the ₦400 million constituted a bribe to secure the contract, but Collins rejected the suggestion, maintaining that the payment was presented as a prerequisite for mobilisation and contract facilitation.
He also admitted that he did not comply with the provisions of the Public Procurement Act before accepting the purported contract.
Meanwhile, Gagdi disclosed that the committee would interrogate Adeyemi at an undisclosed location while he remains in police custody, explaining that the decision was necessary to avoid undermining ongoing investigations by the EFCC, the Independent Corrupt Practices and Other Related Offences Commission (ICPC), and the Nigeria Police.
He said the National Assembly could not compel the suspect to appear publicly because he is currently being held under a valid court order.
According to Gagdi, lawmakers will instead meet Adeyemi privately, in the presence of his lawyers and the police, with the session recorded to ensure transparency.
The House committee was constituted to investigate the circumstances surrounding the alleged establishment and operations of the PFIPC following allegations of impersonation, forgery, financial impropriety and the unlawful use of government facilities and official insignia.
As part of its investigation, the committee has also summoned the Corps Marshal of the Federal Road Safety Corps to explain how official Federal Government number plates allegedly used by vehicles linked to the purported council were obtained.
The panel is expected to conclude its hearings this week before submitting its report to the House of Representatives for further legislative action.
