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Shocker: Chris Oyakhilome’s Christ Embassy Church Is Broke

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Christ Embassy

Pastor Chris Oyakhilome’s Christ Embassy Church (UK) is presently broke. According to Charity Commission, the agency that regulates charity organizations in the country, the church is in debt and has now been declared insolvent.

Trouble started for the church following a series of crises which plagued it in 2013.

 

In 2014, Pastor Chris Oyakhilome lost a fierce power tussle over the church in the UK with his ex-wife, Anita Oyakhilome, now known as

Anita Ebhodaghe Schafer

. Ms. Anita was the head of the UK branch of the church while Mr. Oyakilome presided over the charity’s board of trustee since inception, but he was forced to resign in 2014.

 

After he was kicked out of the church’s board of trustee, the couple divorced five months later. In 2013, the UK government set up an inquiry into possible financial misplacement of the church’s fund between 2008 and 2012. Government-appointed auditors later raised eyebrows over suspicious payments worth N2.14 billion (£4.28 million) made to companies and organization closely related to the church in 2013.

Chris Oyakhilome

Chris and Anita when the going was good

Christ Embassy Church UK was flagged on the Charity Commission website as “charity insolvent”. According to the commission, a charity is considered as being insolvent when it is “unable to pay its debts.”

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Report says the ministry’s annual return for the years 2013 to 2014 indicated that a total of N7.6 billion (£15.1million) was paid to the interim manager. The church still has an outstanding fee of N1.1 billion (£2215,914) to pay the interim manager in 2015.

The Commission explained: “In practice there are two separate tests for insolvency and failure of either might be an indication of insolvency: The charity cannot pay its debts as they fall due for payment; the value of its liabilities exceeds its assets.

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“Charities will be flagged as insolvent on our register when we are made aware of an insolvency situation and we are provided with verification from a qualified, independent insolvency practitioner.”

The ministry also admitted in its belated 2015 financial statement (the church’s last annual return, which it published in 2017) that its subsidiary, Christ Embassy Limited, valued with a net asset of more than N1 billion (£2 million) entered into liquidation from November 1, 2016.

 

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Society

Like Mike Adenuga, Like Subomi Balogun

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The duo of Otunba Subomi Balogun and Otunba Mike Adenuga share a lot in common.

Extremely successful, they both have signature companies in Nigeria.

Mike

Otunba Mike adenuga, CEO Globacom Limited

While Otunba Adenuga is the Chairman of Globacom among other companies, one of Otunba Balogun’s firms is First City Merchant Bank (FCMB).

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As part of activities to kick-start the 2019 edition of the Ojude Oba Festival, the men were honoured for their immense contributions to the development of Ijebuland.

Indeed, the honour came with a sense of fulfillment, amidst applause and ovation from the likes of Governor Dapo Abiodun, Otunba Michael Olasubomi Balogun, Otunba Gbenga Daniel, Sir Kessington Adebutu, Alaafin of Oyo, Oba Lamidi Adeyemi among others.

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Society

Another Loss For Yahaya Bello

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Loss

No one welcomes the angel of death, but it still takes who he wishes whenever it wants.

This is one fact which Kogi State Governor, Yahaya Bello, recently found out.

Against all odd, Bello would have paid any price to see that his mother remains on the face of the earth, but alas the angel of death does not receive Greek gifts.

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Bello lost his mother, Madam Rekiya Bello some days ago, as she passed on to the greater beyond.

The first citizen of Kogi State confirmed the demise of Madam Bello on Tuesday, August 12.

For a politician whose second-term agenda has been quite shaky, the demise of his mother is indeed another big loss.

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Glamour, Class As Bisi Adedire’s Daughter Weds

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Daughter

 

The joy of every father is to be alive to witness his daughter walk the aisle and say ‘I Do’ to the love of her life.

This wish was granted to amiable Town Planner Bisi Adedire, the Chairman of the Institute of Town Planning on Saturday, August 10, when his daughter Mary Abisadura tied the knot in a traditional affair with her man, Oluwa Seun Oladele.

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The colourful event which held at Happy Crown Hotel, Meran, Lagos State was a gathering of noteworthy men and women both from within and outside Lagos State.

The engagement, which kick-started the nuptial was followed by a peach and white colour inspired reception which didn’t betray the money spent by Adedire in giving his daughter her desired marriage, as the bride couldn’t hide her joy all through the ceremony.

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Needless to say that the father of the bride and  his wife pulled their weight leaving no stone unturned for the event which had notables including the royal father of the day, HRH Kabiyesi Oba Michael Gbadebo Owa Oye of Okemesi; Chairman of the day, Engineer Remi Awode; Oba Kasali of Meran to mention a few.

 

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