Friday, 17 October 2014

How Nigerian Pastors Spend Billions of Naira Given by Church Goers... and Why Bishop Oyedepo's Barred from the UK

I remember my church's Pastor telling us why authorities in Nigeria find it hard to look into most churches' finances. In his words he said, "churches are incorporated these days , so they'll not be looked as charities but business organisations, hence, it'll be hard or impossible for EFCC et al to prosecute the Pastors or look into their books, including ours. Today, i read in the papers that my Pastor is worth over $3 million USD. So you get my drift?
According to reuters a former UBA staff said a church that was bringing in $3 million USD weekly approached the bank to help invest the funds, but the bank had to reject it on ethical grounds. One Nigerian pastor was said to have invested $3 billion naira in shares in the defunct Finbank according to a former employee of the bank.
Winners corporate affairs says it employs 18,000 people, a few thousands less than the richest blackman, Aliko Dangote's over 20,000 employees. The church has 5,000 branches locally and 63 others internationally owns two fee paying universities, a publishing house and a high school with branches all over Nigeria. the Canaanland which boasts of 10,500-acre of land has two restaurants, living quarters and more. And after Britain's Charity commission said it was reviewing potential conflicts of interest in finances weeks back, Britain's Interior ministry barred him from Britain though it did not give any reason. T.B. Joshua's synagogue whiich seats over a 10,000 congregation has shops, hotesl, eateries and bars which cares for the needs of thousands of local and international members.

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