Celestial church warns members against doing business with Stephen Akintayo
Celestial Television Network (CTN), the online television arm of the Celestial Church of Christ (CCC), has cautioned its members against doing business with Stephen Akintayo, a self-styled investor, and any of his companies.
In a Facebook post on Saturday, CTN said it had received numerous complaints from church members over the activities of Akintayo and firms linked to him. The network added that its findings showed the Securities and Exchange Commission (SEC) had also declared the operations of the companies illegal.
“We would like to warn every Celestial member to avoid transacting any business with this man named STEPHEN AKINTAYO or any of his companies such as GTEXT HOLDINGS or GVEST INVESTMENT LIMITED,” the network said.
CTN said it had been “inundated with messages and complaints from Celestial church members with proofs of his illegal activities and those of his companies.”
The church-owned media platform further referenced a public notice issued by the SEC in August, warning Nigerians against engaging with Akintayo’s businesses.
“Our research also shows that the Securities and Exchange Commission (SEC), the apex Nigerian regulatory body for capital markets, issued a public statement on their website and social media accounts on August 21, warning the general public against associating with or transacting with his companies as his activities are illegal and without approval or authorisation,” CTN said, adding, “Please don’t get scammed. Be guided!”
In its August alert, the SEC said Akintayo’s company, operating under the name GVEST Global and its subsidiaries, was promoting unregistered investment schemes.
“The Commission hereby informs the public that neither GVEST GLOBAL nor any of the above named entities is REGISTERED by the Commission either to solicit investments from the public or operate in any capacity in the Nigerian capital market,” the SEC stated.
The regulator added that investigations showed the company was being actively promoted online and noted that its operations display features commonly associated with Ponzi schemes.
