House committee to question detained alleged PFIPC chief as businessman recounts paying ₦400 million for a purported government contract

The House of Representatives Ad-hoc Committee investigating the PFIPC fraud allegation on Tuesday said it would question the alleged Director-General of the Presidential Foreign Investment Promotion Council, Prince Adeniyi Adeyemi, at an undisclosed location while he remains in police custody, citing the need to protect ongoing criminal investigations.

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The committee, chaired by Yusuf Gagdi, said the decision was necessary to avoid interfering with investigations being conducted by the Nigeria Police Force, the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission.

The latest development came as a businessman told lawmakers he paid ₦400 million after allegedly being persuaded that the purported council was a legitimate Federal Government agency operating from the Federal Secretariat in Abuja.

The House panel was established to investigate the alleged creation and activities of the Presidential Foreign Investment Promotion Council following allegations of impersonation, forgery, financial impropriety and the unlawful use of government facilities, official insignia and number plates.

Lawmakers are also examining how the purported organisation allegedly operated, its sources of funding, the identities of those involved and whether any public officials or institutions facilitated its activities.

During Tuesday’s hearing, the committee also summoned Federal Road Safety Corps Corps Marshal Shehu Mohammed to appear on Thursday over official government registration plates allegedly used on vehicles linked to the purported council.

The hearing was dominated by the testimony of Gbenga Collins, Managing Director of Divine Dopacy Nigeria Limited, who told lawmakers that he transferred ₦400 million to Adeyemi after being promised a contract to renovate and furnish what was presented as the official residence of the council’s Director-General.

Collins said he first met Adeyemi during a programme in Ogbomoso, Oyo State, in December 2024 before receiving an invitation to Abuja several months later to discuss what appeared to be a business opportunity.

According to Collins, the official appearance of the visit left him with little reason to question Adeyemi’s claims.

“When I arrived at the airport, he sent an official car to come and pick me from the airport to his office at the Federal Secretariat, Abuja,” Collins told the committee.

“When I got to his office, I met him there. He is a well-known man in Ogbomoso. I met a lot of people, very big dignitaries in his office, and I met a group of security officers guarding the office.”

The businessman said the Lexus SUV that collected him carried Federal Government registration plates, while police officers were attached to the office, reinforcing his belief that he was dealing with a genuine government official.

Collins further alleged that Adeyemi introduced himself as Director-General of both the Presidential Economic Advisory Council and the Presidential Foreign Investment Promotion Council before taking him to inspect an official residence earmarked for renovation.

According to Collins, discussions progressed until April 2025, when he received what he believed were authentic contract documents, including a contract award letter, scope of work and a formal agreement between the purported council and his company.

Collins testified that Adeyemi informed him a payment of ₦400 million was required to demonstrate his company’s financial capacity and facilitate mobilisation for the project.

“I had to pay ₦400 million for the facilitation of that project to show my strength that I would be able to handle the project. At the same time, he said it would fast-track the mobilisation for the contract,” Collins said.

He explained that ₦380 million was paid in four instalments between May and June 2025 into a Guaranty Trust Bank account belonging to World Entrepreneurs Limited, while the remaining ₦20 million was transferred on July 29, 2025, into an Access Bank account belonging to Sunshine Confectionery and Catering Services.

The businessman said he raised the funds from business associates who trusted his judgement because he had personally visited what appeared to be an authentic government office.

He added that repeated assurances that mobilisation would commence in August 2025 later shifted to November before communication with Adeyemi eventually broke down.

Collins said legal advice later convinced him he had likely been defrauded, prompting a petition to the EFCC in November 2025.

“My lawyer was the first person who told me that I had been scammed,” he told lawmakers.

The witness also revealed that investigators informed him Adeyemi repeatedly failed to honour EFCC invitations, allegedly citing ill health through legal representatives.

Appealing emotionally to the committee, Collins said the incident had devastated both his business and personal finances.

“I have started selling my property. My business is not going well again,” he lamented.

Committee members questioned whether the ₦400 million constituted a bribe to secure the contract. Collins rejected that suggestion, maintaining that the payment was presented as a mobilisation requirement rather than an inducement.

He also admitted that no formal procurement procedures under the Public Procurement Act were followed before accepting the purported contract.

Addressing Adeyemi’s absence from the public hearing, committee chairman Yusuf Gagdi explained that the suspect remained in police custody under a valid court order and that the National Assembly could not override judicial authority.

“We do not have the power as the National Assembly to vacate an existing court order and say that somebody who is in the custody of the Nigerian Police should leave the police to appear before the National Assembly,” Gagdi said.

The lawmaker, however, confirmed that the committee would still question Adeyemi privately at a location and time that would not compromise ongoing investigations.

“We will not announce to the general public when we will interact with Prince Adeniyi. We will not because the ICPC are investigating this matter. EFCC are investigating this matter,” Gagdi stated.

“In view of that, we are meeting him on an unannounced date and at an unannounced time. We will meet him with a camera that will exonerate members of the committee on our interaction with him.”

He added that Adeyemi’s legal representatives would be present during the interaction in line with the court order.

The PFIPC fraud allegation has attracted growing public attention because it raises broader questions about how individuals allegedly gained access to government facilities, official vehicles, security escorts and state insignia while presenting themselves as senior public officials.

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The House committee is expected to conclude its hearings later this week before submitting its findings and recommendations to the House of Representatives for further legislative action.