London, October 21, 2025 — The UK Charity Commission has frozen more than 100 bank accounts belonging to the Mountain of Fire and Miracles (MFM) Ministries International, founded by Dr. Daniel Olukoya, following allegations of financial mismanagement and poor oversight.
In a report released on Monday, the Commission said it launched a statutory inquiry after uncovering troubling financial inconsistencies and potential misuse of charity funds. The investigation revealed that MFM’s trustees had failed to exercise adequate control over the church’s numerous accounts, many of which were independently managed by local branches.
“Many of the charity’s financial challenges were caused by its complex structure, which expanded from a few branches to over 90 across the UK without corresponding governance improvements,” the report stated.
According to the Commission, several MFM branches operated autonomously—opening bank accounts, spending funds, and purchasing properties without the trustees’ knowledge or approval. This fragmented system, it said, resulted in inaccurate financial reporting and exposed the organization to potential losses.
“As a result of our findings, the Commission froze the charity’s assets to prevent further loss,” the report added.
Efforts to reach MFM’s spokesperson, Dan Aibangbe, for comments were unsuccessful as of press time.
This is not the first time MFM’s UK operations have faced scrutiny. In 2019, the Charity Commission appointed an interim manager to oversee the church’s activities due to late financial filings and administrative lapses.
The Commission has taken similar regulatory action in the past against other large religious organizations, including Christ Embassy, led by Pastor Chris Oyakhilome, over governance and financial accountability concerns.
