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Alleged Misappropriation: MFM Accuses UK Agency Of Discrimination
The Mountain of Fire and Miracles Ministries International has accused the UK Charity Commission of bias and being discriminatory in its report that alleged the church engaged in financial mismanagement.
MFM denied that its UK branch’s accounts were frozen due to financial mismanagement by its trustees.
According to a report by The Cable, the UK Charity Commission had frozen assets belonging to MFM over transparency concerns.
The commission said it opened an inquiry after financial concerns were identified, including the alleged misappropriation of charity funds.
The inquiry found that trustees in the MFM charity wing could not demonstrate that they had adequate oversight or control over more than 100 bank accounts operated by individual branches.
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But reacting to the allegations in a statement on Saturday by its spokesperson, Dan Aibangbe, the church described the commission’s action as “a gross distortion of facts and a deliberate mischaracterisation of a closed chapter.”
MFM insisted that no wrongdoing or fraud was ever found against its trustees.
“The issues raised were related to administrative governance, not a finding of fraudulent activity by the trustee body. This matter is old and not a fresh development. It is misleading to present it as a current scandal,” the church said.
In the statement titled ‘A Point-by-Point Rebuttal: Setting the Record Straight on the MFM–UK Charity Commission Matter,’ the church said none of its bank accounts were frozen, describing such claims as “a complete fabrication.”
The statement added, “No bank accounts belonging to MFM were ever frozen. The commission’s report identified no evidence of systemic financial misconduct by the trustees. The entire process was a display of overreach, not an exposure of fraud.”
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MFM maintained that the Charity Commission acted “not on concrete evidence but on rumours and gossip,” claiming that the regulator’s expectations of uncovering large-scale fraud proved unfounded after it gained access to the church’s financial records.
“When the Commission examined the records, it found nothing of the sort. Rather than close the case honourably, it embarked on a fault-finding mission, highlighting minor administrative discrepancies to justify its intrusion,” it added.
The church further described the commission’s actions as part of a pattern of procedural flaws, recalling that MFM had previously challenged the regulator’s methods in a British court and secured a judgment against what it described as “improper procedures and overreach.”
MFM disclosed that following the probe, the Charity Commission appointed an interim manager to oversee MFM’s UK operations, but the individual’s five-year tenure was more about revenue generation than stewardship.
“The interim manager showed no genuine interest in the church’s ministry, never visiting a single MFM branch in the UK throughout his tenure. Yet, he charged the church a staggering £2 million for his ‘services’—a colossal fee for a process that yielded no evidence of wrongdoing,” the church said.
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“The five-year ordeal was not about protection but predation. What the Commission spent half a decade attempting to prove could have been resolved through cooperative guidance in a single month.”
The church emphasised that the concerns identified by the Commission were administrative in nature, arising largely from the rapid growth of MFM’s UK operations, which had outpaced its volunteer-run governance framework.
“The most powerful testament to the church’s integrity is this: not a single penny was mismanaged by the trustees,” Aibangbe said. “The issues raised were purely related to governance and record-keeping in a fast-growing organisation, not the diversion or theft of funds.
“Crucially, the leadership was already aware of the administrative gaps and had started taking steps to professionalise its governance structure. The Commission’s premature and heavy-handed investigation punished the church for being a victim of its own success,” the church added.
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Describing the investigation as “a biased, costly, and ultimately baseless persecution,” MFM said the experience reflected deeper prejudices against African-founded churches operating in the UK.
The church said it remains committed to transparency and accountability but called for fair treatment of faith-based organisations, regardless of their ethnic or cultural origins.
“The entire ordeal reeks of discriminatory and arrogant oversight,” Aibangbe said. “It was a display of institutional overreach, leveraging state power to burden and punish a thriving faith community.
“The truth has prevailed, and the church marches on—stronger and wiser,” it added.
News
N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs
First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.
The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.
At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.
Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.
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Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.
“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.
“Women-led enterprises are critical to economic activity, yet they face structural barriers.
This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”
“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).
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“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”
Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.
Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.
Applications for the zero-interest loan are now open.Apply now.
News
Xenophobic Attacks: Oshiomhole Tells FG To Retaliate Against South African Companies In Nigeria
Senator Adams Oshiomhole has called on the Federal Government to retaliate against South African businesses operating in Nigeria following the recent attacks on Nigerians in South Africa.
Speaking during plenary on Tuesday, Oshiomhole said the Federal Government should consider revoking the working license of South African owned companies such as MTN and DSTV.
He argued that Nigeria must respond firmly to what he described as persistent hostility against its citizens.
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“I am not going to shed tears. If you hit me, I hit you. I think it is appropriate in diplomacy. It is an economic struggle,” Oshiomhole said.
He argued that while some South Africans accuse Nigerians of taking their jobs, Nigerians should return home and take over employment opportunities created by major South African companies operating in the country, including MTN and DSTV.
“When we hit back, the President of South Africa will not only talk but will also go on his knees to recognise that Nigeria cannot be intimidated.
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“We will not condone any life being lost. If a crime has been committed under the South African law they have the right to bring any such person to justice, but to kill our people as if we are helpless, we will not allow that,” Oshiomhole added.
DAILY POST reports that several Nigerians in South Africa have reportedly been attacked, and their businesses destroyed, in ongoing xenophobic attacks in the country.
News
IGP Orders Officers Display Name Tag On Uniform, Gives Update On State Police
The Inspector General of Police, IGP, Tunji Disu, has ordered all police personnel to always have their name tags on their uniforms for easy identification.
Disu disclosed that only police personnel who are undercover are exempted from displaying their name tags.
Speaking on Tuesday, Disu said: “All police officers should have their name tags. All of us on the high table have our names apart from the undercover among us so if you look at all the Commissioners of Police we have our name tags, so it’s not our standard.
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“All the Commissioners of Police are here and that is why we called this meeting, we have list of things like this that we will want to discuss with the Commissioners of Police, we have told them earlier and we will still let them know that every that happens within their area of jurisdiction falls under their control.”
On the issue of state police, the IGP said: “Since we got the signal that the Federal Government of Nigeria intend to establish State Police and since we are the federal police, we decided to take the bull by the horn and put down our own side of what we believe on how the state police should be run.
“A lot of things were taken into consideration, a lot of comparative analysis was done and it has been transmitted to the National Assembly.”
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