The United Kingdom’s Charity Commission has frozen more than 100 bank accounts linked to the Mountain of Fire and Miracles Ministries (MFM) International, founded by Nigerian cleric Dr. Daniel Olukoya, over alleged financial mismanagement and lack of transparency.
In a detailed report released on Monday, the UK regulator said it launched a statutory inquiry after “serious financial concerns” were uncovered in the operations of MFM’s charity arm in the country.
According to the Commission, the investigation revealed that trustees of the church’s UK branch failed to maintain effective oversight and control of the church’s sprawling financial operations.
“Many of the charity’s financial issues stemmed from its complex structure, which had grown from a handful of branches to over 90 nationwide, without the corresponding governance improvements,” the report noted.
The inquiry uncovered that several MFM branches across the UK were running independently — opening bank accounts without central authorisation, failing to file timely financial returns, and making large financial commitments without the knowledge of the main trustees.
The report state “branches operated autonomously, opening bank accounts without central oversight and failing to report income in a timely manner. This created substantial risks to charitable funds and resulted in inaccurate financial reporting.
Additionally, branch offices were making significant financial decisions, including property purchases and lease agreements, without trustee knowledge or authorisation.”
The Commission said such practices exposed the charity to financial losses, prompting the regulator to freeze the affected bank accounts to prevent further misuse of funds.
“As a result of its findings, the Commission took action to freeze the charity’s assets to prevent further loss,” it added.
Efforts by PLATFORM TIMES to obtain comments from MFM’s spokesperson in the UK, Dan Aibangbe, proved unsuccessful as he did not respond to messages or calls.
This is not the first time the MFM UK branch has come under regulatory scrutiny. In 2019, the Charity Commission had appointed an interim manager to oversee the church’s operations after similar concerns were raised over late financial filings, weak internal controls, and administrative lapses that led to “significant losses.”
MFM, founded in Lagos in 1989 by Dr. Daniel Olukoya, is one of Nigeria’s largest Pentecostal ministries with hundreds of branches worldwide. However, the recent action by the UK authorities marks another major blow to the church’s global reputation.
The Charity Commission has in the past taken similar steps against other Nigerian-founded ministries in the UK, including Christ Embassy, owned by Pastor Chris Oyakhilome, which also had an interim manager appointed over issues of governance and accountability.
The UK regulator said its latest intervention is aimed at ensuring that charitable funds “are properly safeguarded and used for the intended purposes,” warning that non-compliance with charity laws would not be tolerated.
'
'Do you want to share a story with us? Do you want to advertise with us? Do you need publicity for a product, service, or event? Contact us on WhatsApp +2348183319097 Email: platformtimes@gmail.com
We are committed to impactful investigative journalism for human interest and social justice. Your donation will help us tell more stories. Kindly donate any amount HERE
