The Charity Commission for England and Wales has frozen the assets of the Mountain of Fire and Miracles (MFM) Ministries International, a church founded by Nigerian cleric Dr. Daniel Olukoya, following concerns over financial mismanagement and lack of transparency.
In a report released on Monday, the commission said an inquiry was launched after red flags were raised regarding the church’s financial operations, including alleged misappropriation of funds belonging to its charity arm in the United Kingdom.
According to the report, the investigation revealed that the trustees of the MFM charity failed to exercise proper oversight or control over more than 100 bank accounts opened by individual branches of the church across the UK.
“Many of the charity’s financial issues stemmed from its complex structure, which expanded rapidly from a few branches to over 90 nationwide without corresponding improvements in governance,” the commission stated.
It added that numerous branches operated independently, opening bank accounts and managing funds without central approval, which led to poor record keeping, inaccurate financial reporting, and exposure of the charity’s funds to significant risk.
“Branches were making major financial commitments, including property purchases and lease agreements, without the knowledge or consent of the trustees,” the report noted.
The commission said these lapses resulted in financial losses for the organisation, prompting it to take regulatory action.
“As a result of our findings, the Commission froze the charity’s assets to prevent further loss,” it stated.
READ ALSO: Only Divine Intervention Can Save Nigeria — MFM General Overseer
Efforts to reach MFM’s UK spokesperson, Dan Aibangbe, for comments were unsuccessful as of the time of filing this report.
This is not the first time the church has faced regulatory scrutiny in the UK. In 2019, the Charity Commission appointed an interim manager to oversee MFM’s UK operations following persistent administrative failures and late financial filings.
The commission had also previously taken similar action against Christ Embassy, another Nigerian-founded church led by Pastor Chris Oyakhilome, over concerns of financial mismanagement and weak governance structures.
The MFM Ministries, founded in 1989, is known for its emphasis on deliverance and prayer, with thousands of branches worldwide.