Businessman Alleges Paying ₦400m to PFIPC DG for Contract Deal

A businessman, Gbenga Collins, has told the House of Representatives Ad Hoc Committee investigating the activities of the Presidential Foreign Investment Promotion Council (PFIPC) that he paid ₦400 million to the council’s embattled Director-General, Adeniyi Adeyemi, to facilitate the award of a contract.

While testifying before the committee on Wednesday, Collins said he met Adeyemi in Abuja, where he was given documents for a contract to renovate and furnish the Director-General’s official residence. He alleged that he was asked to pay ₦400 million to demonstrate his company’s financial capacity and facilitate the release of mobilisation funds.

Committee Chairman Yusuf Gagdi disclosed that Adeyemi has been absent from the hearings because he is currently in police custody and is also under investigation by anti-corruption agencies. He added that the committee plans to meet with him as part of its ongoing inquiry.

The panel also summoned the Corps Marshal of the Federal Road Safety Corps (FRSC) over the use of official government number plates on vehicles allegedly linked to the disputed council.

The House is investigating the legality of the PFIPC’s establishment and operations following allegations that it functioned without lawful authority.

The investigation follows allegations by Adeyemi that Chief of Staff to the President, Femi Gbajabiamila, sought a portion of the council’s proposed ₦27.3 billion take-off grant and received funds through intermediaries. Gbajabiamila has denied the claims, maintaining that he has no personal or official relationship with Adeyemi and did not request or receive any money.

President Bola Tinubu subsequently directed the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the matter.

The committee is also examining how about ₦1.3 billion was allocated to the PFIPC in the 2026 Appropriation Act. Earlier, the Director-General of the Budget Office of the Federation, Tanimu Yakubu, told lawmakers that none of the appropriated funds had been released because the statutory requirements for disbursement were not met.