The United Kingdom’s Charity Commission has frozen the assets of the Mountain of Fire and Miracles Ministries International (MFM) — founded by Nigerian pastor Dr. Daniel Olukoya — following serious concerns about financial mismanagement and lack of accountability within the church’s UK operations.
In a detailed report released on Monday, the Commission said it launched a statutory inquiry after uncovering “significant financial irregularities,” including possible misappropriation of charity funds and poor governance practices by the church’s trustees.
Investigators revealed that MFM’s trustees were unable to account for or properly supervise over 100 bank accounts operated by its numerous UK branches. The report stated that many of these accounts were opened and run without central approval or oversight, allowing funds to be moved and spent without proper record-keeping.
“Many of the charity’s financial issues stemmed from its complex structure, which expanded from a handful of branches to over 90 locations across the UK without corresponding improvements in governance,” the Commission noted.
The report further exposed that local branches had been making major financial decisions — including property acquisitions and lease agreements — without the knowledge or authorisation of the church’s board of trustees. This lack of oversight, the regulator said, resulted in financial losses and inaccurate financial reporting.
Consequently, the Charity Commission said it froze MFM’s assets to safeguard the remaining funds and prevent further misuse.
This is not the first time MFM’s UK operations have come under scrutiny. In 2019, the Commission had appointed an interim manager to oversee the church’s affairs following repeated failures to file financial reports on time and administrative lapses that led to significant losses.
The Commission noted that MFM’s case mirrors similar concerns that led to the appointment of an interim manager for Christ Embassy, the UK branch of Pastor Chris Oyakhilome’s church, over governance and financial control issues.
The latest findings cast a troubling light on MFM’s financial stewardship under Dr. Olukoya’s leadership, raising renewed questions about transparency and accountability within Nigerian-founded megachurches operating overseas.