Collins made the disclosure on Tuesday while appearing before the committee probing the circumstances surrounding the PFIPC and the N1.3 billion allocation made to the council in the 2026 Appropriation Act.
According to the businessman, he believed the PFIPC was a legitimate government agency because Adeyemi operated from an office within the Federal Secretariat in Abuja, used official vehicles bearing government number plates and was accompanied by security personnel.
He told lawmakers that he first met Adeyemi in December 2024, when he introduced himself as the Director-General of the PFIPC and the Presidential Economic Advisory Council (PEAC).
“I saw police officers with him. That was my first time coming to Abuja because I’m not familiar with Abuja very well. He sent his official car to pick me up from the airport. It had a Federal Government registration number attached to the Lexus SUV,” he said.
He said Adeyemi later informed him of plans to renovate and furnish his official residence and invited Divine Dopacy Nigeria Limited to execute the project.
He added that Adeyemi personally took him to inspect the property alongside members of his staff and security operatives.
According to Collins, in April 2025, Adeyemi presented him with a contract award letter, a scope of work and an agreement covering the refurbishment project.
“He told me that he wanted to do refurbishment and renovation of the official house assigned to him as the DG of that agency and asked whether I would be able to handle the contract.
“He took me to the house to show me the property because I slept in Abuja. We went there the following day with his staff. We went with more than four, five or six vehicles with security. They opened the house and took us round, showing me what they wanted to do,”
However, he alleged that Adeyemi subsequently demanded N400 million as proof of his company’s financial capacity and as a condition to facilitate mobilisation for the contract.
“I had to pay N400 million for the facilitation of that project to show my strength that I would be able to handle the project,” Collins told the committee.
He testified that the N400 million was paid in five instalments between May and July 2025 into accounts belonging to World Entrepreneurs Limited and Sunshine Confectionery and Catering Services.
“My lawyer was the first person who told me that I had been scammed,” he said.
NPO Reports recalls that Adeyemi had alleged that Gbajabiamila issued his appointment letter as Director-General of the PFIPC, a claim the Chief of Staff has strongly denied.
The embattled Adeyemi also claimed he borrowed N400 million to secure the PFIPC appointment and said his creditors later reported him to the EFCC over the unpaid debt.
He was arrested on July 14 by operatives of the Police Intelligence Response Team (IRT) in Osun State, days after Gbajabiamila filed a N15 billion defamation suit against him.