The Economic and Financial Crimes Commission has warned Nigerians to be careful after a motivational speaker, Stephen Akintayo, asked for $18,000 (about ₦30 million) for a one-on-one mentorship programme.
EFCC spokesman, Dele Oyewale, said the fee raised serious concerns and could be similar to a Ponzi scheme.
“There is a trace of a Ponzi scheme in that arrangement. People need to be careful about where they put their money,” Oyewale said.
He also said it was wrong to charge for such programmes in dollars.
“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,” he added.
The programme, which was advertised online, did not include any account details. Instead, interested people were told to send a private message. Akintayo wrote in a Facebook post that those interested could pay ₦2.5 million immediately and spread the balance over 12 months.
He promised access to a billionaire coaching group, 45 of his books, and more.
The post sparked heated reactions on social media.
A Facebook user, Okey Mbah, said, “Anyone who has ₦30 million doesn’t need a mentor. Just read books and invest wisely. Do you know how many plots of land or government bonds that money can buy?”
Another user, Francis Njemanze, wrote, “Last time, he offered me a ‘sponsored’ ticket to a conference for ₦300,000. Now he wants $18,000 for mentorship. Most young people can’t afford this.”
Human rights advocate, Charles Ogbu, also criticised the programme.
He said, “There’s no clear record of anyone who became a billionaire through your mentorship. Yet you ask people to pay nearly ₦30 million.”
But not everyone was against it. Some users praised the programme.
A user, Bukat Grills, said, “I’ve seen people who passed through your mentorship. They’re doing very well.”
Another user, Udeme Udeme, added, “No amount is too much for knowledge and access.”
A user named Acha Emmanuel Adiele even showed interest in paying for the programme.
One of the programme’s team members, Victoria, defended the idea, saying, “Dr Stephen gives a lot of free knowledge. But sometimes people only pay attention when they pay.”
An economist, Dr Aliyu Ilias, said the fee was too high.
He said, “When the government fails to provide good education and support, non-state actors take over. But ₦30 million for mentorship will only push people to look for money the wrong way.”
