UK based and regular host of GIOTV show Maureen Badejo has said she did not defame Mountain of Fire and Miracles Ministries, MFM, General Overseer, Dr. D.K Olukoya.
She asked the general public, “how I did I defame Olukoya”?
“I am not the UK charity commission that closed all the MFM branches in United Kingdom”.
Maureen further told her viewers that she did not defame Olukoya, backing it up with the TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018, this report was submitted by Olukoya’s accountant.
Maureen shared the link of the report to her viewers and directed them to page one where the names of trustee are.
Below are the names :
Trustees
Franklin Olugbemiga Oyegbesan, Trustee (resigned 17, December 2018)
Patricia Blankson, Trustee (resigned 17, December 2018)
Dr. Daniel Olukoya, Chairman
Thomas Oke, Trustee
(resigned 2 May 2018)
Florence Sankey
0 A, Trustee (appointed
21 December, 2018)
Oluwafemi Emmanuel Oladipo, Trustee (appointed 21 December 2018)
Kehinde Williams, Trustee (appointed 21 December 2018) Bamidele Omotayo, Trustee (appointed 21 December, 2018) Enoch Sunday Olaniyan, Trustee (appointed 21 December 2018)
She later directed them to page 8 and page 10 where Olukoya and other trustees fraudulent acts were exposed.
Kindly read below:
Governance
Trustees meet periodically to formulate policies and operating guidelines.
The Charity is administered by the Board of Trustees as listed on the references and administrative information
section. Albeit retaining its responsibility for the overall strategy and policies of the Charity, the Trustees delegate
the day-to-day management to the Central Administrator and, the chair and vice chair of the management
committee.
The Charity operates through a branch system and branches are allowed some degree of autonomy in respect
of general administration and financial matters. Pastors have overall control in the management of their
branches and are assisted by Secretaries/Administrators. Finance committees however manage the finance at
the branch level.
The branches are mandated to make monthly returns to central office at the headquarters;this should include
activities, financial records (both on line and paper) and any other issues that need the attention of the Trustees.
All the Charity’s property titles are held under the names of the serving trustees on behalf of the charity.
Following personnel who served as trustees during the reporting period were holding title to property belonging to
the charity at the report approval date:
Patricia Blankson
Franklin Olugbemiga Oyegesan
Daniel Kolawole Olukoya.
Maureen Badejo said according to Related party relationships
All the Trustees work is purely voluntary, none of the trustees received remuneration or other benefits for their
work as trustee during the year under review. Except those disclosed in Related Party transactions note to the
financial statements,there have been no transactions or dealings with any individual or entities connected to
trustees or any other related parties.
Also in page 10 another fraudulent act was discovered.
A declaration of serious incidents. The board of trustees become aware of the following significant incidents during the year.
1. Loss of Gift Aid monies:
The first incident relates to Gift Aid payments made on behalf of the charity for the years between 2004 to 2012.
A sum of E1.2m was reported to have been paid to the charity in Gift Aid repayment during this period as
confirmed by the HMRC letter to the charity.
Out of this approximately E397K was traced to the charity’s bank account and a sum of E210,4K was recovered
through refund in 03 March 2018.
The Trustees estimated the loss to the charity after the deduction of the amount traced to the Charity and the
refund made in March 2018 is approximately E2702K.
The Trustees had put in place measure to prevent such future occurrence through tighter financial measures
and the charity currently had ceased to apply for Gift Aid repayments.
The incident has been reported to the police via Action Fraud and is currently under investigation by the charity
commission.
2.
Theft /mismanagement of Funds at Lewisham branch:
The second incident relates to diversion of funds due to the charity in one of its branches at Lewisham. Trustees
have estimated that a sum of 8150k had been diverted at the branch. A sum of E143K is due to be lost, this
figure is reached after the deduction of total repayment of F6,690 from the sum of 8150k due lost originally. The
incident had been reported to the police via the action Fraud and its currently been investigated by the police.
3.
Claims/Litigation:
There is a planning enforcement proceeding against the charity at one of its branches. This relates to a branch carrying out its activities in a rented property without prior permission from council. The HM Courts 8 Tribunal on the
18th of February 2019made a monetary court fine of F7,507 and a confiscation order for the sum of F91,264
(Total F98,772) against the charity, these sums had been fully paid to the court offsetting the provision made in
2017.
After this occurrence,the trustees have in place a robust and rigorous system to make sure all our worship
venues are in accordance to the law and no flaunting of planning permission rule. The system also ensures
adequate monitoring of all the charity’s estate.
4. Inquiry by regulatory authority:
The Charity Commission, the independent regulator of charities in England and Wales opened a statutory inquiry
into the charity’s activity on the 27th of March 2018,this inquiry is on going and had led to the appointment of an
interim manager on the 1stAugust 2019.
The interim manager Dr Adam Stephens of Smith 8 Williamson LLP, was appointed interim Manager in respect
of the Charity with effect from 1 August 2019, subject to and until any further Order or Orders varying or
discharging (in whole orin part) the provisions of this Order.
Dr. Stephens shall have all the powers and duties of the Trustees in respect of all matters relating to the specific
functions setout in the schedule here to for the duration of the interim Manager appointment.
The Trustees of the charity will continue to have all powers and duties of trustees with the exception of those
functions setout in the schedule here to.
Finally, on page 35 Maureen said trustee are not suppose to collect salary but Folashade Olukoya, a trustee’s spouse, works as a senior pastor for the church and has received a salary of
f35,000 during the year (2017: f35,000).
The charity has received interest free loan of f90,000 (2017:f Nil) from general overseerwho is also a
chair of the board of trustees.The loan is repayable on demand and the balanceoutstanding at the year
end was f90,000.
The charity has received interestfree loan of f5,000 from one of its trustees.The loan is repayable on demand.The balanceoutstanding atthe year end was f5,000.
The charity has advanced a loan of f3,920
to one of its trustees.The loan is repayable on demand and
the balanceoutstandingatthe year end was
f1, 245.
Kindly click on the link below to read more about Olukoya’s criminal and fraudulent acts.