The UK authorities have frozen more than 100 bank accounts linked to the Mountain of Fire and Miracles Ministries International (MFM International), the UK branch of Dr. Daniel Olukoya’s church, following allegations of serious financial misconduct and mismanagement.
According to reports obtained by Instablog, the Charity Commission for England and Wales uncovered widespread governance failures, weak financial controls, and alleged misuse of church funds.
Investigators discovered that MFM trustees failed to properly manage the church’s numerous bank accounts, exposing what they described as “substantial risks to charitable assets.”
The church’s 2004 constitution also granted General Overseer Daniel Olukoya, identified as “Trustee A,” excessive authority to appoint and remove trustees, making independent oversight practically impossible.
The report further revealed that some trustees were also paid employees, a clear violation of charity regulations. Although this was corrected in July 2024, the Commission noted that the damage had already been done.
In addition, several church branches reportedly operated as independent entities, opening their own accounts, acquiring properties, and making major financial decisions without the approval of the main board of trustees.
In one case, investigators found large amounts of idle funds spread across multiple accounts, leading to a freezing order in February 2022.
Adding to the controversy, Olukoya has also faced separate allegations of assaulting church members, further intensifying public scrutiny around his leadership.
Due to these irregularities, Dr. Adam Stephens of Evelyn Partners LLP was appointed Interim Manager in 2019 to oversee MFM’s finances. The intervention has already cost over £1 million plus VAT.
In its 2023 financial report, MFM recorded £2.71 million in income and £2.19 million in expenses, but its assets remain frozen pending major financial reforms.