The Mountain of Fire and Miracles (MFM) Ministries
International has rejected findings by the United Kingdom’s Charity Commission
that accused the church of “serious financial mismanagement”.
In a report published Monday, the commission said it opened
an inquiry after financial concerns were identified.
According to the regulator, the inquiry found that trustees
in the MFM charity wing could not demonstrate that they had adequate oversight
or control over more than 100 bank accounts operated by individual branches.
“As a result of its findings, the Commission took action to
freeze the charity’s assets to prevent further loss,” the report noted.
In a statement provided to TheCable late Tuesday, Dan
Aibangbe, MFM spokesperson, said the report was disappointing “though not
surprising”.
“This investigation has been flawed from the onset,” he
said.
Aibangbe admitted that there were “some shortcomings” from
the church but added that “the charity commission has exaggerated the findings
to fuel their faulty stand”.
“The MFM challenged the charity commission in court during
the course of the investigation and got judgment against their mode of
investigation.
“At no time was the assets of the MFM Charity in the UK
frozen by a court or the Charity Commission.
“What happened was that the Building Funds of the Charity
was wrongly without information to the Charity transferred from Barclays Bank
to the Royal Bank of Scotland with only the Signatory being the Interim
Manager.
“Upon discharge of the Interim Manager, the full funds with
interest has been returned back to Barclays Bank under the custody and control
of the Charity Trustees.
“No assets of the Charity was frozen under any court order.”
Aibangbe added that no trustee was found to be fraudulent or
to have stolen any money.
He labelled the commission’s findings mischievous.
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