The House of Representatives has intensified its investigation into the alleged activities of the purported Presidential Foreign Investment Promotion Council (PFIPC), with lawmakers set to question its claimed Director-General, Prince Adeniyi Adeyemi, while he remains in police custody.
The ad hoc committee investigating the matter said the engagement would hold privately at an undisclosed location to avoid interfering with ongoing investigations by the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the police and the courts.
Chairman of the committee, Yusuf Gagdi, said the National Assembly would respect existing judicial orders while seeking necessary clarification from Adeyemi.
The probe centres on allegations of impersonation, forgery, financial impropriety and the alleged unlawful use of government facilities, official documents and insignia by the purported council.
The committee is also examining how the organization operated, its funding sources, those behind it and whether any government officials or institutions facilitated its activities.
The investigation began after questions were raised over the legitimacy of the PFIPC, with the Presidency stating that the body was not established by the Federal Government and directing relevant agencies to investigate claims surrounding its operations.
At the latest hearing on Tuesday, August 4, 2026, Managing Director of Divine Dopacy Nigeria Limited, Gbenga Collins, alleged that he paid ₦400 million to Adeyemi after being promised a contract to renovate and furnish an official residence allegedly assigned to the PFIPC director-general.
Collins told lawmakers that he believed Adeyemi was a genuine government official because of his alleged access to an office at the Federal Secretariat in Abuja, security personnel and vehicles bearing official-looking number plates.
He said he first met Adeyemi in Ogbomoso, Oyo State, in December 2024, before being invited to Abuja in early 2025 for business discussions.
According to him, Adeyemi arranged airport pickup to his office at the Federal Secretariat, where he met security officers and visitors, reinforcing his belief that the council was legitimate.
READ ALSO: PFIPC Probe: Adeyemi Rejects Sole Blame, Demands Reps Hearing
Collins said Adeyemi introduced himself as the head of both the Presidential Economic Advisory Council and the PFIPC before later offering his company a renovation contract for an alleged official residence.
He said he received contract documents in April 2025 and was asked to provide ₦400 million as proof of financial capacity and to facilitate mobilization.
The businessman disclosed 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 ₦20 million was transferred on July 29, 2025, into an Access Bank account linked to Sunshine Confectionery and Catering Services.
Collins said he sourced the funds from business associates who trusted him because of the circumstances surrounding Adeyemi’s alleged government connections.
He alleged that mobilization promised for August 2025 failed to happen, with Adeyemi later citing security issues and shifting the payment timeline to November.
After repeated unsuccessful attempts to reach Adeyemi, Collins said he consulted a lawyer and petitioned the EFCC on November 13, 2025. He adopted the petition on November 19.
He told lawmakers the incident had damaged his business and forced him to sell personal assets while facing pressure from those who contributed money.
The committee also summoned the Corps Marshal of the Federal Road Safety Corps, Shehu Mohammed, over government number plates allegedly used on vehicles linked to the purported council.
Gagdi said Adeyemi would be questioned privately, with his lawyers present and the session recorded, adding that the priority was to obtain facts without compromising ongoing investigations.
The committee is expected to conclude its inquiry and submit its report to the House for further legislative action.