Popular Nigerian entrepreneur, real estate investor and motivational speaker, Dr. Stephen Akintayo, has come under renewed public scrutiny following fresh allegations by former employees of his GText Homes and renewed attention to an earlier Securities and Exchange Commission (SEC) warning involving entities linked to the business empire.
Akintayo, who has built a strong public profile around entrepreneurship, real estate investment, wealth creation and motivational speaking, became a subject of intense online discussion this week after an investigative report by the Foundation for Investigative Journalism (FIJ) detailed allegations by former GText employees concerning unpaid salaries, pension deductions and workplace practices.
The development comes at a particularly interesting moment for the entrepreneur, who is also publicly promoting major international business programmes and speaking about investment, wealth creation and Nigeria’s economic potential.
According to FIJ, some former employees of GText Homes have accused the company and its founder of what they described as unfair labour practices.
Among the allegations are claims of outstanding salaries, arbitrary termination of employment, salary deductions and failure to remit pension contributions deducted from workers’ pay.
One former employee, identified as Victoria, said she received N395,000 in outstanding salary after publicly raising concerns about her situation. She subsequently called attention to other former colleagues whom she said were still waiting for payments.
Another former employee, Paul Ndibuagu, alleged that he suffered salary deductions after refusing to carry out what he considered questionable instructions. FIJ reported that he provided salary records which it said showed significant differences between his contractual salary and amounts received on particular occasions.
Former employees also raised questions about pension and tax deductions, with one former finance staff member alleging that deductions reflected in employment documents were not remitted as expected.
GText rejects allegations
GText has strongly disputed the accusations. In a statement provided to FIJ, the company described the allegations as false and part of what it called a coordinated smear campaign involving aggrieved former employees.
Management also alleged that some former employees left the company without properly regularising their exits and retained company property.
GText further claimed that some of the individuals involved had allegedly taken company funds, laptops, mobile phones or a vehicle, while stating that the matter had been reported to the police and was under investigation.
Regarding the specific allegations of arbitrary salary deductions, GText said its records did not support the claims and maintained that salary deductions were governed by company policy and applicable labour laws.
The company also rejected the allegations concerning pension and tax remittances, saying the claims did not accurately reflect its practices, policies or records.
SEC warning remains part of the story
Separate from the latest employment controversy is a regulatory issue that has continued to shadow public discussions around some businesses associated with Akintayo.
In August 2025, the SEC issued an Illegal Operator Alert concerning GVEST Global, also identifying GVEST (Alausa) Cooperative Multipurpose Limited, GVEST Investment Limited and GText Holdings in the alert.
The commission said the entities were not registered with it to solicit investments from the public or operate in the Nigerian capital market.
The SEC further said its investigations showed activities associated with GVEST Global exhibited characteristics commonly associated with Ponzi schemes and advised members of the public to refrain from engaging with the named entities in respect of Nigerian capital-market activities.
Importantly, the regulatory warning was issued in 2025 and is separate from the fresh employee allegations now circulating online. It therefore should not be presented as a finding that Akintayo personally committed fraud.
Akintayo’s business profile
Despite the controversies, Akintayo remains a prominent figure in Nigeria’s entrepreneurship and real estate space.
His public profile spans real estate, private equity, venture capital, business education and motivational speaking. His official biography describes him as Chairman of SACI Holdings and founder of GText Holdings, while his platform promotes investment conferences, business training and wealth-building programmes.
GText has also continued to project itself as a growing business group with interests extending beyond property sales. Earlier this year, the company marked its 18th anniversary and said it was moving further into diversification.
In March, reports also emerged that Akintayo had stepped back from the chairmanship of GText Holdings, with former Inspector-General of Police, Sir Mike Okiro, taking over as chairman in what was presented as part of a broader succession and institutionalisation process.
Still making big economic arguments
Even as the latest controversy unfolds, Akintayo has remained active in public conversations about Nigeria’s economic future.
In an interview with TVC News published on Wednesday, October 7, he argued that Nigeria could potentially attract more than $200 billion annually in diaspora remittances if the country improves investor confidence, strengthens institutions and changes how Nigerians living abroad are treated.
He said the Nigerian diaspora represents a major pool of capital, skills and international connections that could contribute significantly to economic development.
Akintayo also advised Nigerians who relocate abroad not to abandon businesses and assets at home, arguing that migration should be approached with an entrepreneurial mindset capable of creating jobs rather than merely seeking employment.
His comments have added another dimension to the renewed attention surrounding him, placing his public advocacy for wealth creation and investment alongside questions being raised about the operations of businesses associated with his name.
A reputation now facing a crucial test
For an entrepreneur whose public brand is heavily built around trust, investment, wealth creation and business mentorship, the latest developments carry significance beyond the immediate social-media controversy.
On one side is a businessman who has spent years building a highly visible entrepreneurship platform, publishing business books, organising conferences and mentoring aspiring entrepreneurs.
On the other is a growing body of allegations from former employees, together with the SEC’s previously published warning concerning investment-related activities linked to entities named in its 2025 alert.
Neither the employee allegations nor the earlier regulatory warning should be conflated into a single conclusion about Akintayo’s personal culpability. They do, however, form an important part of the public record surrounding the businessman.
With GText denying the latest accusations and promising to defend its interests, the key issues raised by the former workers could ultimately require documentary evidence, regulatory scrutiny or judicial determination before definitive conclusions can be reached.
Meanwhile, Akintayo’s continued visibility in international investment conferences and entrepreneurship programmes means that the latest controversy is unlikely to disappear quickly.
He is scheduled to feature among speakers at the Business Growth Conference 2026 in London on October 10 and 11, while his China Billionaire Habits Retreat is scheduled for October 13–22.
For now, Stephen Akintayo’s name sits at an unusual intersection of entrepreneurial success, motivational influence, ambitious economic ideas and mounting scrutiny—making the unfolding GText story one that will continue to attract considerable public attention.
The development comes at a particularly interesting moment for the entrepreneur, who is also publicly promoting major international business programmes and speaking about investment, wealth creation and Nigeria’s economic potential.
According to FIJ, some former employees of GText Homes have accused the company and its founder of what they described as unfair labour practices.
Among the allegations are claims of outstanding salaries, arbitrary termination of employment, salary deductions and failure to remit pension contributions deducted from workers’ pay.
One former employee, identified as Victoria, said she received N395,000 in outstanding salary after publicly raising concerns about her situation. She subsequently called attention to other former colleagues whom she said were still waiting for payments.
Another former employee, Paul Ndibuagu, alleged that he suffered salary deductions after refusing to carry out what he considered questionable instructions. FIJ reported that he provided salary records which it said showed significant differences between his contractual salary and amounts received on particular occasions.
Former employees also raised questions about pension and tax deductions, with one former finance staff member alleging that deductions reflected in employment documents were not remitted as expected.
GText rejects allegations
GText has strongly disputed the accusations. In a statement provided to FIJ, the company described the allegations as false and part of what it called a coordinated smear campaign involving aggrieved former employees.
Management also alleged that some former employees left the company without properly regularising their exits and retained company property.
GText further claimed that some of the individuals involved had allegedly taken company funds, laptops, mobile phones or a vehicle, while stating that the matter had been reported to the police and was under investigation.
Regarding the specific allegations of arbitrary salary deductions, GText said its records did not support the claims and maintained that salary deductions were governed by company policy and applicable labour laws.
The company also rejected the allegations concerning pension and tax remittances, saying the claims did not accurately reflect its practices, policies or records.
SEC warning remains part of the story
Separate from the latest employment controversy is a regulatory issue that has continued to shadow public discussions around some businesses associated with Akintayo.
In August 2025, the SEC issued an Illegal Operator Alert concerning GVEST Global, also identifying GVEST (Alausa) Cooperative Multipurpose Limited, GVEST Investment Limited and GText Holdings in the alert.
The commission said the entities were not registered with it to solicit investments from the public or operate in the Nigerian capital market.
The SEC further said its investigations showed activities associated with GVEST Global exhibited characteristics commonly associated with Ponzi schemes and advised members of the public to refrain from engaging with the named entities in respect of Nigerian capital-market activities.
Importantly, the regulatory warning was issued in 2025 and is separate from the fresh employee allegations now circulating online. It therefore should not be presented as a finding that Akintayo personally committed fraud.
Akintayo’s business profile
Despite the controversies, Akintayo remains a prominent figure in Nigeria’s entrepreneurship and real estate space.
His public profile spans real estate, private equity, venture capital, business education and motivational speaking. His official biography describes him as Chairman of SACI Holdings and founder of GText Holdings, while his platform promotes investment conferences, business training and wealth-building programmes.
GText has also continued to project itself as a growing business group with interests extending beyond property sales. Earlier this year, the company marked its 18th anniversary and said it was moving further into diversification.
In March, reports also emerged that Akintayo had stepped back from the chairmanship of GText Holdings, with former Inspector-General of Police, Sir Mike Okiro, taking over as chairman in what was presented as part of a broader succession and institutionalisation process.
Still making big economic arguments
Even as the latest controversy unfolds, Akintayo has remained active in public conversations about Nigeria’s economic future.
In an interview with TVC News published on Wednesday, October 7, he argued that Nigeria could potentially attract more than $200 billion annually in diaspora remittances if the country improves investor confidence, strengthens institutions and changes how Nigerians living abroad are treated.
He said the Nigerian diaspora represents a major pool of capital, skills and international connections that could contribute significantly to economic development.
Akintayo also advised Nigerians who relocate abroad not to abandon businesses and assets at home, arguing that migration should be approached with an entrepreneurial mindset capable of creating jobs rather than merely seeking employment.
His comments have added another dimension to the renewed attention surrounding him, placing his public advocacy for wealth creation and investment alongside questions being raised about the operations of businesses associated with his name.
A reputation now facing a crucial test
For an entrepreneur whose public brand is heavily built around trust, investment, wealth creation and business mentorship, the latest developments carry significance beyond the immediate social-media controversy.
On one side is a businessman who has spent years building a highly visible entrepreneurship platform, publishing business books, organising conferences and mentoring aspiring entrepreneurs.
On the other is a growing body of allegations from former employees, together with the SEC’s previously published warning concerning investment-related activities linked to entities named in its 2025 alert.
Neither the employee allegations nor the earlier regulatory warning should be conflated into a single conclusion about Akintayo’s personal culpability. They do, however, form an important part of the public record surrounding the businessman.
With GText denying the latest accusations and promising to defend its interests, the key issues raised by the former workers could ultimately require documentary evidence, regulatory scrutiny or judicial determination before definitive conclusions can be reached.
Meanwhile, Akintayo’s continued visibility in international investment conferences and entrepreneurship programmes means that the latest controversy is unlikely to disappear quickly.
He is scheduled to feature among speakers at the Business Growth Conference 2026 in London on October 10 and 11, while his China Billionaire Habits Retreat is scheduled for October 13–22.
For now, Stephen Akintayo’s name sits at an unusual intersection of entrepreneurial success, motivational influence, ambitious economic ideas and mounting scrutiny—making the unfolding GText story one that will continue to attract considerable public attention.
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