The Managing Director of Divine Dopacy Nigeria Limited, Gbenga Collins, has narrated before the House of Representatives Ad-hoc Committee how he allegedly lost N400 million after trusting Adeniyi Adeyemi, the embattled Director-General of the Presidential Foreign Investment Promotion Council.
Collins told lawmakers that he believed Adeyemi was a genuine government official because he operated from an office at the Federal Secretariat in Abuja, moved around with armed security personnel and official vehicles, and regularly received high-profile visitors.
He recalled meeting Adeyemi at a programme in Ogbomoso in December 2024 before being invited to Abuja the following year for what was presented as a lucrative government contract.
According to him, Adeyemi claimed he had been allocated an official residence as Director-General and requested that his company handle its renovation and furnishing. Collins said he was taken to inspect the property and later received documents indicating that the contract had been awarded to his firm.
The businessman said he was instructed to pay N400 million to demonstrate his financial capacity and facilitate mobilisation for the project. Believing the transaction was genuine, he raised the money from business associates and transferred it in several instalments into two company accounts provided to him.
He said repeated assurances that work would commence soon later turned into excuses, with Adeyemi allegedly blaming security concerns before promising that mobilisation would begin at a later date.
Collins said he became suspicious after months of unfulfilled promises and eventually sought legal advice. His lawyer subsequently petitioned the Economic and Financial Crimes Commission, which began investigating the matter.
He told the committee that investigators later informed him Adeyemi had repeatedly failed to honour invitations from the anti-graft agency, allegedly citing health reasons through his legal representatives.
Lamenting the impact of the incident, Collins said his business had suffered severe setbacks and that he had been forced to dispose of some of his personal assets after failing to refund associates who contributed to the N400 million.
Responding to questions from lawmakers, Collins denied paying a bribe to secure the contract, insisting he believed the money was a legitimate mobilisation requirement. He, however, admitted that he did not comply with the procedures outlined in the Public Procurement Act before accepting the contract.
The committee's chairman, Yusuf Gagdi, said Adeyemi would appear before the panel at a later date, noting that the arrangement was necessary to avoid compromising ongoing investigations by the EFCC, the Independent Corrupt Practices and Other Related Offences Commission and the Nigeria Police.
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