The United Kingdom branch of Christ Embassy, owned by popular Nigerian televangelist, Chris Oyakhilome, is broke and has been declared insolvent by the Charity Commission, the agency that regulates charity organisations in the country.
The ministry also admitted in its belated 2015 financial Statement (the churchs 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.
On its website, the Charity Commission flagged Christ Embassy as charity insolvent. According to the commission, a charity is considered as being insolvent when it is unable to pay its debts.
In practice th…
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