Headline

UK Closes Nigerian-owned Church Over Financial Mismanagement

Published

4 years ago

June 17, 2022

Editor

A United Kingdom High Court has ordered the closure of Salvation Proclaimer Ministries Limited, a church led by Nigeria-born Tobi Adegboyega, over alleged financial mismanagement and lack of transparency in its operations.

In a statement published to the UK government website on Friday, the church, popularly known as SPAC Nation, was said to have been closed “in the public interest.”

The church, according to the statement, was wound up “after failing to properly account for more than £1.87 million of outgoings and operating with a lack of transparency” in the High Court on June 9, 2022 before Judge Burton.

The statement partly read, “Salvation Proclaimer Ministries Limited, more commonly known as SPAC Nation, was wound up in the public interest in the High Court on 9 June 2022 before Judge Burton. The Official Receiver has been appointed as liquidator of the company.

“The court heard that SPAC Nation was incorporated in 2012, a charity set up to advance Christianity. Much of its charitable work was based in London, working particularly with vulnerable people, youth, and offenders.”

While noting that SPAC Nation, which was incorporated on 10 September 2012, initially had positive reviews and media attention, the statement said the church “was subject to media scrutiny following allegations by former church members they had been financially exploited by senior church personnel” by late 2019.

“Initially, the church group received positive reviews and media attention. But by late 2019 SPAC Nation was subject to media scrutiny following allegations by former church members they had been financially exploited by senior church personnel.

“The Insolvency Service received complaints about SPAC Nation before instigating its own confidential enquiries into the church group’s activities,” according to the statement.

The statement further said the church failed to comply with statutory requirements and made claims without providing supporting information.

It stated, “Investigators interviewed one of the company’s directors, Adedapo Olugbenga Adegboyega, who was also known as Dapo Adegboyega or Pastor Dapo. During interviews, Mr Adegboyega said that the church group had over 2,000 members and 200 ordained ministers and pastors but failed to provide any supporting information.

“Further enquiries found that SPAC Nation either failed to comply or only partially complied with statutory requirements, including providing data to support claimed donations, and accounting records in support of £1.87 million of expenditure.

“The company’s financial statements in the two years to 31 December 2019 set out £610,000 of rent expenditure. However, the company did not have a single base of its own and would hire venues across London to hold services, at significant expense.”

“Salvation Proclaimer Ministries Limited was wound-up after the court concluded the company operated with a lack of transparency, filed suspicious or incorrect accounts, and was insolvent at the time of the hearing.

“It was also recognised that the company provided inconsistent information to the Insolvency Service and Charity Commission, and failed to deliver up adequate accounting records.

“The company remains subject of a statutory inquiry by the Charity Commission, who are examining financial, governance and safeguarding matters at the charity,” the statement added.

The Chief Investigator for the Insolvency Service, Edna Okhiria, was quoted by the statement as saying, “While SPAC Nation claimed it had noble intentions to support vulnerable and young people, our enquiries uncovered a different side of the charity. There were clear concerns around how the church group managed its affairs and SPAC Nation failed to properly account for income received from donations and other expenditure.

“The court recognised the severity of SPAC Nation’s actions and this sends a strong message that proper records and accounts must be maintained, even if you’re a charity.”

Headline

Aircraft Crashes In Owerri With Four Persons Onboard

Published

3 days ago

December 17, 2025

Editor

Photo: File copy

A Cessna 172 aircraft with registration number 5N-ASR, operated by Skypower Express, has crashed at the Sam Mbakwe International Cargo Airport, Owerri, Imo State.

The aircraft had departed Kaduna International Airport en route to Port Harcourt International Airport before diverting to Owerri after the crew declared an emergency.

The crash occurred at about 8:00 pm on the airport premises, with four passengers and crew members onboard.

Confirming the incident, the Director, Public Affairs and Family Assistance of the Nigerian Safety Investigation Bureau (NSIB), Mrs. Bimbo Oladeji, said the agency had been notified of the crash.

According to the NSIB, the aircraft crashed on the approach area of Runway 17, but no fatalities have been recorded so far.

The statement said: “Following the occurrence, airport emergency services were successfully activated and arrived on site promptly. Reports indicate that there was no post-crash fire, and the runway remains active for flight operations, with other aircraft taking off safely after the incident.

“Efforts are currently underway to coordinate the recovery and evacuation of the distressed aircraft from the crash site to allow for a detailed wreckage examination.”

The NSIB said it has officially activated its investigation protocols in line with its statutory mandate

The Director-General of NSIB, Capt. Alex Badeh Jr., sympathised with the management of Skypower Express over the incident and expressed relief that no lives were lost.

Badeh Jr. added that the Bureau’s investigation team is already coordinating with relevant authorities to secure the crash site and commence a detailed investigation into the cause of the accident.

Two days ago, 11 persons narrowly escaped death as a private jet crash-landed at Mallam Aminu Kano International Airport, Kano, on Sunday morning.

The occupants, including passengers and cabin crew, were safely evacuated amid an intense atmosphere, eyewitnesses told The Guardian.

The private jet, owned by Flybird Aviation, crash-landed at about 9:30 a.m. while approaching Kano Airport en route to Abuja.

The incident attracted urgent attention, with emergency staff and other stakeholders converging at the runway to render rescue operations.

The management of the Federal Airports Authority of Nigeria (FAAN) is yet to release an official statement on the incident. Unofficial sources disclosed that the passengers have been taken to an unknown destination.

Several aircraft incidents have occurred at Kano Airport, with several lives lost.

The last incident occurred in May 2002, when an EAS Airline aircraft departed the runway at Aminu Kano International Airport at 1:29 p.m. local time en route to Lagos.

Headline

Musk Breaks Record As First Person Worth Over $600 Billion

Published

3 days ago

December 16, 2025

Editor

Elon Musk, Chief Executive Officer of SpaceX, Tesla, and xAI, has reached a new personal wealth milestone, surpassing a net worth of $600 billion, driven primarily by a recent valuation increase of SpaceX.

The development makes Musk the first individual in history to exceed the US$600 billion threshold.

According to Bloomberg’s Billionaires Index, Musk’s net worth stood at approximately $638 billion as of 15 December 2025, with the increase largely attributed to SpaceX, which was recently valued at around $800 billion following an insider share sale.

The privately held aerospace company, based in Starbase, Texas, is now considered the most valuable private firm globally, significantly boosting Musk’s personal holdings.

Musk’s stake in Tesla, estimated at roughly 12 per cent, is valued at nearly $200 billion, while his majority ownership of xAI Holdings is estimated at $60 billion.

Collectively, these assets place him on track to potentially approach US$700 billion, widening the gap between him and the world’s second-richest individual, former Google CEO Larry Page, valued at $265 billion.

The SpaceX valuation comes ahead of a projected public listing in 2026, which could see the company valued at approximately $1.5 trillion.

“Other shareholder meetings are snooze-fests but ours are bangers. Look at this. This is sick,” Musk said in November during Tesla’s shareholder meeting, referring to a performance-linked pay package approved by investors.

He added, “I super appreciate it.” The package, potentially worth up to US$1 trillion in stock, is tied to market-capitalisation and operational milestones over the next decade.

SpaceX’s Starlink satellite network has also contributed to investor confidence. The company continues to expand high-speed internet access to underserved regions worldwide.

Chad Gibbs, Vice President of Starlink Operations, stated that the satellite technology “bypasses the need to build massive amounts of infrastructure,” allowing broader and faster connectivity.

Musk’s ascent in personal wealth follows years of strategic risk-taking and long-term planning, with Tesla’s focus on electric vehicles, battery technology, and autonomous systems laying the foundation for his financial growth.

Analysts note that the combination of SpaceX’s soaring valuation, Tesla’s long-term incentives, and Musk’s diverse portfolio underpins his current status as the world’s wealthiest individual.

Headline

South Korea, Japan Protest China, Russia Aircraft Incursions

Published

1 week ago

December 10, 2025

Editor

South Korea and Japan reacted furiously on Wednesday after Chinese and Russian military aircraft conducted joint patrols around the two countries, with both Seoul and Tokyo scrambling jets.

South Korea said it had protested with representatives of China and Russia, while Japan said it had conveyed its “serious concerns” over national security.

According to Tokyo, two Russian Tu-95 nuclear-capable bombers on Tuesday flew from the Sea of Japan to rendezvous with two Chinese H-6 bombers in the East China Sea, then conducted a joint flight around the country.

The incident comes as Japan is locked in a dispute with China over comments Prime Minister Sanae Takaichi made about Taiwan.

The bombers’ joint flights were “clearly intended as a show of force against our nation, Defence Minister Shinjiro Koizumi wrote on X Wednesday.

Top government spokesman Minoru Kihara said that Tokyo had “conveyed to both China and Russia our serious concerns over our national security through diplomatic channels”.

Seoul said Tuesday the Russian and Chinese warplanes entered its air defence zone and that a complaint had been lodged with the defence attaches of both countries in the South Korean capital.

“Our military will continue to respond actively to the activities of neighbouring countries’ aircraft within the KADIZ in compliance with international law,” said Lee Kwang-suk, director general of the International Policy Bureau at Seoul’s defence ministry, referring to the Korea Air Defence Identification Zone.

South Korea also said it deployed “fighter jets to take tactical measures in preparation for any contingencies” in response to the Chinese and Russian incursion into the KADIZ.

The planes were spotted before they entered the air defence identification zone, defined as a broader area in which countries police aircraft for security reasons but which does not constitute their airspace.

Japan’s defence ministry also scrambled fighter jets to intercept the warplanes.

Beijing later Tuesday confirmed it had organised drills with Russia’s military according to “annual cooperation plans”.

Moscow also described it as a routine exercise, saying it lasted eight hours and that some foreign fighter jets followed the Russian and Chinese aircraft.

Since 2019, China and Russia have regularly flown military aircraft into South Korea’s air defence zone without prior notice, citing joint exercises.

In November last year, Seoul scrambled jets as five Chinese and six Russian military planes flew through its air defence zone.

Similar incidents occurred in June and December 2023, and in May and November 2022.

Meanwhile, Tokyo said Monday it had scrambled jets in response to repeated takeoff and landing exercises involving fighter jets and military helicopters from China’s Liaoning aircraft carrier as it cruised in international waters near Japan.

It also summoned Beijing’s ambassador after military aircraft from the Liaoning locked radar onto Japanese jets, the latest incident in the row ignited by Takaichi’s comments backing Taiwan.

Takaichi suggested last month that Japan would intervene militarily in any Chinese attack on the self-ruled island, which Beijing claims as its own and has not ruled out seizing by force.

AFP