A fresh ₦400 million bribery allegation has emerged in the ongoing investigation into the activities of the Presidential Foreign Investment Promotion Council (PFIPC) by the House of Representatives ad hoc committee.

The allegation was made by the Managing Director of Divine Dopacy Nigeria Limited, Mr. Collins Oyekunle, who told the committee that he paid the sum to the embattled former Director-General of the council, Mr. Mathew Adeyemi, as a condition for securing a purported ₦2 billion government contract.

Oyekunle made the claim during an investigative hearing conducted by the House panel, alleging that the payment was a prerequisite for the contract award. He explained that the transaction followed a series of meetings with Adeyemi and some of his associates.

According to him, the ₦400 million was not sourced solely from his personal funds but was raised through contributions from colleagues and associates before being transferred in batches in 2025. He further disclosed that the payments were made into different corporate bank accounts allegedly provided for the transaction.

Members of the committee questioned the rationale behind transferring such a substantial amount into accounts that had not been independently verified as belonging to any recognised government institution. Lawmakers also sought clarification on whether due diligence was conducted prior to making the payments.

The panel stated that it would examine relevant bank records, communications, and other supporting documents linked to the alleged transaction. It also assured that all individuals and organisations connected to the matter would be invited to provide further clarification.

The committee noted that the allegation forms part of its broader investigation into claims of forgery, impersonation, financial impropriety and the alleged misuse of government institutions by the disputed council.

Meanwhile, Adeyemi remains in police custody over allegations related to the purported agency. He and his legal representatives have previously requested an opportunity to testify before the committee.