The EFCC has warned Nigerians after Stephen Akintayo offered a mentorship programme for $18,000. The agency says the fee may violate Nigerian financial laws.
EFCC Blasts Motivational Speaker for Charging $18,000 Mentorship Fee
EFCC Fumes Over $18,000 Mentorship Fee by Motivational Speaker The Economic and Financial Crimes Commission (EFCC) has raised serious concerns after a motivational speaker, Dr. Stephen Akintayo, advertised a mentorship programme with a fee of $18,000 — approximately ₦30 million.
The controversial offer, shared on Facebook on April 23, 2025, promised 10 exclusive slots for a one-on-one mentorship and access programme. Akintayo stated that participants could pay ₦2.5 million upfront and complete the balance over 12 months. Perks of the programme included access to a “billionaire coaching community” and 45 of his authored books.
The programme flyer contained no bank account details. Interested participants were told to make inquiries via private message.
EFCC Reacts
EFCC spokesperson Dele Oyewale cautioned Nigerians against such offers, describing them as suspicious and potentially exploitative.
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“There is a trace of a Ponzi scheme in that arrangement,” Oyewale said. “People need to be careful about where they put their money.”
He also criticised the dollar pricing. “It is not proper to charge in dollars. One of the campaigns we are doing is against the dollarisation of our economy. For anyone to offer a mentorship programme in dollars is a violation of the laws of the land.”
Mixed Reactions from Nigerians
The announcement sparked heated reactions online.
One Facebook user, Okey Mbah, questioned the logic: “Anyone who can afford that amount doesn’t need mentorship. That money can buy plots of land or yield significant returns in Treasury Bonds.”
Another critic, Francis Njemanze, wrote, “The monetisation is excessive. He once offered me a ‘sponsored’ conference ticket for ₦300k. Now, it’s $18k for mentorship?”
Human rights activist Charles Ogbu was also skeptical: “There’s no proof that anyone became a billionaire just by going through your mentorship.”
Still, some supporters defended Akintayo. Bukat Grills called the fee “affordable compared to the value and network” provided. Another user, Udeme Udeme, said, “No amount is too much for knowledge and access.”
A resource person for the programme, Victoria, defended the initiative, saying, “Dr. Stephen has free and paid mentorships. Sometimes, people only pay attention when they pay.”
