The Christ Embassy church in the United Kingdom is in debt and has been declared insolvent by the Charity Commission, the agency that regulates charity organizations in the country.
The church owned by popular Nigerian pastor, Chris Oyakhilome, 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.
Report says the ministrys 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 …