UK Freezes Over 100 MFM Church Bank Accounts Over Financial Mismanagement Scandal

The Charity Commission for England and Wales has 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 an extensive investigation into allegations of serious financial misconduct and governance failures.

According to the Commission’s latest report, the probe uncovered deep-rooted governance weaknesses, poor financial controls, and the misuse of church funds. The inquiry revealed that MFM’s trustees failed to properly manage numerous accounts, creating “substantial risks” to the church’s charitable assets.

Excessive Trustee Control and Governance Breaches

The investigation found that the church’s 2004 constitution granted Dr. Olukoya (Trustee A) significant control over the appointment and removal of trustees — a structure that made independent governance impossible.

Some trustees were also paid employees, in direct violation of UK charity laws, though this issue was reportedly rectified in July 2024 after regulatory intervention.

Uncontrolled Branch Operations and Misused Funds

Further findings showed that several MFM branches in the UK were operating independently, opening bank accounts, purchasing properties, and making major financial decisions without authorization from the main trustees.

In one notable case, the Commission discovered large sums of idle funds, leading to a freezing order in February 2022.

Due to continued non-compliance and irregularities, the Commission appointed Dr. Adam Stephens of Evelyn Partners LLP as Interim Manager (IM) in 2019 to restore financial oversight and implement control measures. His management, which extended for several years, reportedly cost the charity over £1 million plus VAT.

Regulatory Findings and Sanctions

The report highlighted repeated late financial submissions and a “lack of adequate oversight,” both classified as misconduct and mismanagement under the Charity Act.

According to its 2023 financial report, MFM International recorded £2.71 million in income and £2.19 million in expenses. However, the Commission stated that all assets remain frozen pending ongoing reforms.

The Commission also warned that any evidence of misuse of charitable funds could trigger criminal investigations.

Summary

The MFM Church financial scandal UK case underscores the Charity Commission’s ongoing effort to enforce accountability and transparency among religious organizations. As the investigation continues, all MFM assets remain under regulatory control until full compliance is achieved.