The Managing Director of Divine Dopacy Nigeria Limited, Gbenga Collins, has told the House of Representatives Ad hoc Committee investigating the controversial Presidential Foreign Investment Promotion Council that he lost N400 million after allegedly being deceived into believing he had secured a Federal Government renovation contract through the council’s purported Director General, Adeniyi Adeyemi.
Testifying before the committee, Collins said he was convinced the agency was genuine because Adeyemi operated from an office within the Federal Secretariat in Abuja, travelled with armed security personnel and official vehicles bearing government registration numbers, and regularly received high profile visitors.
He explained that he first met Adeyemi, whom he described as a fellow indigene of Ogbomoso, during a programme in December 2024. According to him, Adeyemi later invited him to Abuja in early 2025 to discuss a business opportunity.
Collins said an official vehicle was sent to pick him up from the airport and take him to Adeyemi’s office at the Federal Secretariat, where the environment further convinced him that he was dealing with a genuine senior government official.
He told lawmakers that Adeyemi introduced himself as the Director General of both the Presidential Economic Advisory Council and the Presidential Foreign Investment Promotion Council.
The businessman said Adeyemi later informed him that he had been allocated an official residence and wanted Divine Dopacy Nigeria Limited to handle the renovation and furnishing of the property.
According to Collins, Adeyemi personally took him to inspect the residence alongside members of his entourage and security operatives before discussions progressed.
He said that by April 2025, Adeyemi presented him with what appeared to be a contract award letter, scope of work and an agreement authorising his company to execute the project.
Collins alleged that he was instructed to pay N400 million as proof of his company’s financial capacity and to facilitate mobilisation for the contract.
He said he sourced the funds from business associates who trusted his judgment because he had personally visited Adeyemi’s office and believed the project was legitimate.
The witness disclosed that he transferred N380 million in four instalments between May and June 2025 into a Guaranty Trust Bank account belonging to World Entrepreneurs Limited, while the remaining N20 million was paid in July 2025 into an Access Bank account linked to Sunshine Confectionery and Catering Services.
According to him, Adeyemi repeatedly assured him that mobilisation for the contract would begin in August 2025, but the promise was never fulfilled.
Collins said subsequent explanations centred on security concerns before another assurance was given that payment would commence in November.
However, after repeated failed attempts to reach Adeyemi, he sought legal advice.
“My lawyer was the first person who told me that I had been scammed,” he told the committee.
He explained that his lawyer petitioned the Economic and Financial Crimes Commission in November 2025, adding that he later adopted the petition after being invited by investigators.
Collins said the anti graft agency informed him that Adeyemi repeatedly failed to honour its invitations, allegedly citing health challenges through his legal representative.
Appealing to lawmakers, the businessman said the incident had crippled his business, forced him to sell personal property and left him under pressure from those who contributed funds for the transaction.
He insisted that he acted in good faith because every indication suggested he was dealing with a legitimate government official.
During the hearing, the committee chairman, Yusuf Gagdi, questioned whether the N400 million constituted a bribe paid to secure the contract.
Collins rejected the suggestion, maintaining that the payment was presented as a requirement to facilitate the contract and hasten mobilisation rather than an inducement.
He, however, admitted that he did not follow the procedures outlined in the Public Procurement Act before accepting the contract.
The businessman also confirmed that the funds were transferred in naira and not converted to foreign currency.
Speaking on Adeyemi’s absence from the hearing, Gagdi disclosed that the committee would question the embattled official at a later date and in a confidential location to avoid compromising ongoing investigations by the EFCC, the Independent Corrupt Practices and Other Related Offences Commission and the Nigeria Police Force.