The United Kingdom’s Charity Commission has frozen more than 100 bank accounts and assets belonging to the Mountain of Fire and Miracles (MFM) Ministries International, citing serious financial mismanagement.
The church, founded by Pastor Daniel Olukoya, came under investigation after the regulator identified “financial concerns,” including alleged misappropriation of charitable funds.
In a report released on Monday, the Charity Commission said its formal inquiry revealed that trustees of MFM’s UK charity arm failed to exercise adequate oversight or control over the more than 100 bank accounts operated independently by individual branches.
“Many of the charity’s financial issues stemmed from its complex structure, which had grown from a handful of branches to over 90 locations nationwide, without the corresponding governance improvements,” the report stated.
The Commission found that many branches were operating autonomously — opening bank accounts, making property purchases, and signing lease agreements without central approval or timely financial reporting.
“This created substantial risks to charitable funds and resulted in inaccurate financial reporting,” the regulator said. “As a result of its findings, the Commission took action to freeze the charity’s assets to prevent further loss.”
Dan Aibangbe, a spokesperson for MFM, did not immediately respond to requests for comment.
This is not the first time MFM’s UK branch has faced regulatory scrutiny. In 2019, the Charity Commission appointed an interim manager to oversee its operations after repeated failures to submit financial statements and what it described as “serious administrative weaknesses.”
The Commission has taken similar measures against other religious organisations, including Christ Embassy UK, over concerns about governance and accountability.