Stephen Akintayo Advertises $18,000 Mentorship Programme Amid Multiple Fraud Allegations

Confidence UbaniApril 25, 20252 Mins read70

Nigerian entrepreneur Dr. Stephen Akintayo has been criticised after launching a high-priced mentorship programme. Akintayo, who brands himself as “Africa’s Leading Investment Coach,” offered 10 exclusive slots for $18,000 (about ₦29 million). To secure a spot, applicants must pay a ₦2.5 million deposit, with the balance payable over 12 months.

The offer promises monthly coaching sessions, business strategies, property discounts, and access to Akintayo’s network. The announcement, however, sparked widespread criticism. Many questioned the ethics of charging such high fees for mentorship in an economy facing severe economic challenges. Others noted that the situation echoes the recent CBEX scam, where investors were promised high returns and then left with nothing.

Multiple fraud allegations have marred Akintayo’s business reputation; critics argue that his success is based more on illusion than reality. One of the most notable cases involves U.S.-based nurse Ogonna Ugochukwu. She accused Akintayo of defrauding her of $21,500 after she paid for a one-bedroom apartment at Regina Tower in Dubai. The payment was made to accounts linked to Stephen Akintayo Consulting. Afterwards, communication stopped, and Ugochukwu’s efforts to recover her money were unsuccessful.

Another victim, Nigerian doctor Adelosoye Alex Adedotun, reported paying $50,000 for a property in Dubai. He made the payments to Tiger Properties Company, which was also allegedly connected to Akintayo. The property was never delivered, and attempts to retrieve the funds failed.

A petition submitted to the Inspector General of Police claims that Akintayo and his associates defrauded clients of over $115,000. Emmanuel Temitope Afolabi is among the complainants named in the petition.

In Nigeria, Akintayo’s company, Gtext Homes, has also faced accusations of breaching contracts. Nigerian businessman Adeshina Ogedengbe claimed that Gtext Homes owed him ₦2.9 million after he supplied materials for a project. Although partial payments were made with police involvement, the full balance remains unpaid.

In a separate case, Abuja businessman Kingsley Nwankwo filed a court application to shut down Gtext Homes. He accused the company of fraud, non-payment of commissions, and questionable property sales. The application also mentioned a six-month travel ban placed on Akintayo in Dubai due to ongoing criminal investigations.

Law enforcement agencies in Nigeria are reportedly investigating these claims, though no formal charges or convictions have been made public.

Despite the growing complaints, Akintayo continues to promote his mentorship programme, claiming it provides access to “billionaire secrets.” However, with numerous unresolved fraud allegations, observers warn Nigerians to exercise caution and conduct thorough due diligence before engaging with Akintayo’s mentorship, Gtext Homes or any of its affiliates.