EFCC, Nigerians condemn motivational speaker for demanding $18,000 for mentorship

EFCC logo

The Economic and Financial Crimes Commission has expressed disapproval after a motivational speaker demanded $18,000 for a mentorship programme.

The spokesperson for the EFCC, Dele Oyewale, warned Nigerians against investing their money in schemes that could put them in trouble.

The fee, equivalent to nearly N30m, sparked debates on social media with some users slamming the poster, Stephen Akintayo.

Checks by our correspondent revealed that the flyer of the programme contained no account details and people who expressed interest were instructed to send a private message.

On Wednesday, April 23, 2025, Akintayo posted on his Facebook page that he had 10 slots for a one-on-one mentorship and access programme for $18,000, adding that N2.5m could be paid on the day the post was made, and the balance spread over 12 months.

In the post, the investment coach made several promises, including access to a billionaire coaching community and 45 of his books.

Reacting, Oyewale said, “There is a trace of a Ponzi scheme in that arrangement. People need to be careful about where they put their money.”

He also noted that it was unlawful to charge in dollars, adding that the EFCC frowned upon such an act.

“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.

Nigerians on social media also expressed mixed reactions to the matter.

Criticising the scheme, a Facebook user, Okey Mbah, said anyone who could afford the requested amount didn’t need mentorship from investment coaches.