Lagos, Nigeria — Popular prophet of the Celestial Church of Christ, Israel Ogundipe, founder of Genesis Global Ministry in Lagos, has revealed that a bank recently offered him a N1 billion loan to expand his ministry’s reach globally. Ogundipe shared this disclosure during an appearance on the show of well-known Nigerian On-Air Personality, Ifedayo Olarinde, also known as Daddy Freeze, on Tuesday.
Ogundipe explained that the bank, which he chose not to name, approached him with the offer two months ago, highlighting the financial success of his church as a reason for the loan proposal. According to the prophet, the bank provided details of other churches that have secured similar loans, with amounts ranging from N3 billion to N4 billion.
“A bank called me two months ago and said they wish to loan me N1 billion. They offered me the loan and I asked them what for. They replied that they know churches are getting it (loan) and I would be able to pay it back because they know my church is big,” Ogundipe recounted during the interview.
The pastor expressed skepticism about how the bank expected him to repay such a large sum. He was told that churches typically pay back through the proceeds generated from revivals, crusades, and other religious events.
“And they mentioned some churches who got loans from them ranging from N3 billion to N4 billion. And I asked them how they expected me to pay back such an amount and they said those that collect such loans, that’s why they would never stop doing conferences, crusades, and revivals, and from there, they would get money to pay back,” Ogundipe explained.
This revelation comes as a surprise, considering Ogundipe’s past legal issues. In 2020, he was convicted and sentenced to jail for defrauding a London-based architect and converting her property for personal use. The pastor was arraigned on a seven-count charge, including stealing, unlawful conversion of property, forgery, and fraudulently collecting sums of N14 million and £12,000 from the victim between 2002 and 2005.
Despite his controversial past, Ogundipe continues to lead his ministry, which has grown significantly in size and influence. The recent offer of a N1 billion loan underscores the financial potential seen by institutions in religious organizations, particularly in Nigeria, where megachurches are prominent and attract large congregations.
The pastor’s decision on whether to accept the loan remains undisclosed, leaving questions about the future financial strategies of his ministry and the broader implications for religious organizations taking on significant financial obligations.
