A businessman, Mr. Gbenga Collins, has narrated before the House of Representatives Ad-hoc Committee investigating the activities of the alleged fake Presidential Foreign Investment Promotion Council (PFIPC) how he was allegedly defrauded of N400 million after being promised a government renovation contract.
Collins, Managing Director of Divine Dopacy Nigeria Limited, told lawmakers that he met the alleged self-styled Director-General of the PFIPC, Adeniyi Adeyemi Mathew, in Ogbomoso, Oyo State, in December 2024 before being invited to Abuja for what was presented as a business opportunity.
According to him, his confidence in the deal grew after he was received in an official-looking government vehicle, taken to an office at the Federal Secretariat and introduced to what appeared to be a fully operational government agency with security personnel and official vehicles bearing Federal Government number plates.
Collins said Adeyemi later showed him a property allegedly allocated as the Director-General’s official residence and asked his company to undertake its renovation and furnishing. Weeks later, he was presented with what appeared to be a contract award letter and informed that he had to pay N400 million to prove his financial capacity before mobilisation could begin.
Believing the contract was genuine, Collins said he raised funds from business associates and investors and paid the N400 million in five instalments between May and July 2025 into accounts linked to two companies, after repeated assurances that mobilisation would commence in August.
However, he told the committee that the promised contract never materialised as the alleged DG repeatedly delayed the project, citing security concerns before eventually becoming unreachable.
Collins said he later consulted a lawyer, who informed him that he had likely been defrauded. The matter was subsequently reported to the Economic and Financial Crimes Commission (EFCC), which began investigating after receiving a petition in November 2025.
He appealed to lawmakers to ensure justice is served, revealing that the financial loss had severely affected his business and forced him to begin selling off his properties to repay those who contributed to the funds.
During the hearing, lawmakers questioned whether the payment constituted a bribe and whether due procurement procedures had been followed. Collins insisted the payment was not a bribe but a condition imposed before the purported contract could be mobilised, while admitting that he did not follow the standard procurement process.
Following the testimony, the committee expressed concern over how the alleged fake agency obtained official government vehicles and registration plates, prompting it to summon the Corps Marshal of the Federal Road Safety Corps (FRSC), Shehu Mohammed, to explain the process for issuing official government number plates.
Committee Chairman Yusuf Gagdi also explained that Adeyemi remains in police custody under a valid court order and would be questioned at a later date in a manner that would not interfere with ongoing investigations by the EFCC, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and other security agencies.