UK Freezes Over 100 Bank Accounts Linked to MFM Church Over Financial Scandal
By BEFOCUS News Desk | Witty Global Blogs
Published: October 22, 2025
Charity Commission Launches Major Crackdown on Faith-Based Financial Mismanagement
In a landmark regulatory move, the UK Charity Commission for England and Wales has frozen over 100 bank accounts linked to the Mountain of Fire and Miracles Ministries (MFM) International, UK branch over alleged financial irregularities, weak governance, and serious administrative misconduct.
The commission revealed in its published statutory inquiry report that it found systemic mismanagement, conflicts of interest, and poor oversight across the UK operations of the Nigerian-founded Pentecostal church. The investigation—one of the most extensive in recent years—uncovered evidence of autonomous branch accounts, unapproved property acquisitions, and missing oversight of millions of pounds in charitable assets.
Background: A Global Church Under Scrutiny
Founded by Dr. Daniel Kolawole Olukoya in Nigeria, the MFM church has expanded globally with branches in over 100 countries. In the UK alone, the church reportedly operates more than 90 branches with thousands of members. However, the Charity Commission’s findings show that the governance structure of the UK arm failed to keep pace with the rapid expansion.
According to the report, branches were opening bank accounts independently without notifying trustees, and several had made major property decisions without proper authorisation. The regulator concluded that trustees lacked any meaningful control over more than 100 bank accounts, exposing the charity to severe financial risk.
Major Findings of the Inquiry
- Governance Breakdown: Trustees failed to demonstrate adequate oversight or financial control over numerous branch accounts.
- Conflict of Interest: Some trustees were also employed by the charity, a violation of its own constitution.
- Financial Irregularities: Over £2.7 million in income and £2.1 million in expenditure were recorded in 2023, but accountability was unclear.
- Late Filings: Annual reports for 2015, 2016, and 2017 were each filed over 150 days late.
- High Risk of Asset Misuse: Some funds were found to be “sitting idle” for unclear purposes, while certain branches entered property deals without trustee knowledge.
As a result, the Charity Commission issued a freezing order under Section 76 of the Charities Act 2011 to prevent further misuse of charitable funds and protect assets from potential diversion.
Governance Failures and Oversight Problems
The report highlighted that the charity’s constitution gave the General Overseer—based outside the UK—excessive authority to appoint and remove trustees, compromising independent governance. The Commission noted that this structure blurred accountability lines and allowed conflicts of interest to thrive.
Furthermore, some trustees admitted that they lacked sufficient financial expertise to manage an organisation of such complexity. This, combined with weak internal controls, made it easy for branches to operate independently with little to no oversight.
Regulatory Actions and Reforms
Following these revelations, the UK Charity Commission took several enforcement measures:
- Appointed an Interim Manager (Dr. Adam Stephens of Evelyn Partners LLP) in August 2019 to stabilise governance and review financial operations.
- Implemented a temporary freeze on all accounts associated with MFM UK branches to safeguard assets.
- Ordered a full governance review conducted by Stone King LLP, which recommended a new “hub and spoke” structure to centralise oversight.
- Mandated the introduction of robust financial reporting systems and stricter branch accountability policies.
The intervention reportedly cost the charity over £1 million plus VAT in management and compliance expenses. The Commission has since confirmed that MFM UK has complied with an official action plan issued in September 2024.
Lessons and Wider Impact
This case has sent shockwaves through the UK’s religious charity sector, serving as a stark reminder that faith-based organisations are not exempt from regulatory scrutiny. The Charity Commission emphasised that all charities—regardless of religious affiliation—must meet the same legal standards of transparency and accountability.
For donors and members, the revelations raise serious concerns about how their contributions are managed, and whether internal checks are strong enough to ensure proper use of funds. For other international ministries operating in the UK, this serves as a warning to strengthen governance, ensure timely filings, and maintain strict oversight across all branches.
Current Status and Future Outlook
The Commission confirmed that the MFM UK trustees have implemented corrective actions, restructured their financial system, and now file their reports on time. However, the regulator noted that this case will remain a “serious warning” to other large charities managing extensive networks and foreign ties.
Despite the reforms, the MFM’s reputation faces a major credibility challenge as it seeks to rebuild public confidence both in the UK and abroad.
Official Statement:
“The Commission’s intervention demonstrates that we will not hesitate to act where we identify serious misconduct or mismanagement in charities. The Mountain of Fire and Miracles Ministries International has now taken steps to rectify its governance structure, but this case serves as a reminder of the consequences of poor oversight,” — Charity Commission for England and Wales, 2025.
The freezing of over 100 bank accounts tied to one of Africa’s most influential Pentecostal churches highlights a growing concern over financial integrity within faith-based organisations. As global religious charities expand, the demand for transparency, professionalism, and governance must evolve equally—or risk reputational and legal disaster.
Source of News:
This report is based on verified information from the UK Government’s Charity Commission Inquiry Report (Gov.UK) and corroborated by reputable media outlets including:
Tags: MFM Church UK, Dr Daniel Olukoya, UK Charity Commission, Financial Scandal, Nigeria Church News, Charity Mismanagement, Faith-Based Oversight, BEFOCUS News, Witty Global Blogs
Written by: BEFOCUS News Desk | WittyGlobalBlogs.com
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