EFCC Warns Nigerians As Motivational Speaker Demands $18,000 For Mentorship Programme
The Economic and Financial Crimes Commission (EFCC) has cautioned Nigerians against falling prey to suspicious financial schemes, following outrage over a mentorship programme advertised at the staggering cost of $18,000 (almost N30 million).
The speaker at the centre of the controversy, Stephen Akintayo, had announced via his Facebook page that he had 10 available slots for a “one-on-one mentorship and access programme,” requesting an initial payment of N2.5 million, with the balance to be spread over 12 months.
Despite offering promises of entry into a “billionaire coaching community” and access to 45 of his authored books, Akintayo’s demand has provoked widespread backlash across social media platforms.
Responding to the development, EFCC spokesperson, Mr Dele Oyewale, condemned the dollarisation of such services, stressing that charging fees in foreign currency within Nigeria contravenes existing financial regulations.
He warned that the arrangement showed traces of a Ponzi scheme, urging Nigerians to exercise caution before committing their hard-earned resources.
“There is a trace of a Ponzi scheme in that arrangement. People need to be careful about where they put their money,” Oyewale stated, adding that the EFCC was intensifying its campaign against the dollarisation of the Nigerian economy.
Social media users did not hide their displeasure, with many criticising the scheme as exploitative. One commentator argued that any individual who could afford $18,000 did not need mentorship but rather needed to focus on refining their existing ventures.
Another lamented the growing trend of monetising mentorship opportunities to the detriment of young entrepreneurs and start-ups.
However, not all reactions were negative, as some followers defended Akintayo, citing the potential value of the access and network he promised.
While some declared the programme a worthwhile investment, others insisted that wisdom and financial success cannot be bought at such exorbitant rates.
Meanwhile, efforts by newsmen to obtain a response from Mr Akintayo proved abortive as calls to numbers provided on the programme flyer went unanswered.
Sodiq Lawal is a passionate and dedicated journalist with a knack for uncovering captivating stories in the bustling metropolis of Osun State and Nigeria at large. He has a versatile reporting style, covering a wide range of topics, from politics , campus, and social issues to arts and culture, seeking impact in all facets of the society.
