“How Bank Offered Me N1 Billion Loan, Wanted Repayment Through Crusades’ Proceeds” — Pastor Ogundipe

Prophet Israel Ogundipe, the popular leader of the Celestial Church of Christ’s Genesis Global Ministry in Lagos, has revealed a surprising offer from an unnamed bank. The bank proposed a N1 billion loan to help expand his ministry’s global reach, with an unusual repayment plan based on proceeds from church activities such as revivals and crusades.

Speaking on Tuesday during an interview with renowned Nigerian On-Air Personality, Ifedayo Olarinde, better known as Daddy Freeze, Ogundipe shared details of the offer. He disclosed that the bank not only extended the loan offer but also cited examples of other churches that had taken similar loans, some as large as N3 billion to N4 billion.

“A bank called me two months ago and said they wished to loan me N1 billion,” Ogundipe stated. “They told me they know churches are taking such loans, and they believe I could repay because my church is big.”

Ogundipe further explained that when he inquired about the repayment terms, the bank suggested that the loan could be paid back through monthly contributions from the proceeds of church activities, including revivals and crusades.

“They mentioned some churches that had taken loans of N3 billion to N4 billion, explaining that these churches continuously organize conferences, crusades, and revivals to generate the funds needed to pay back the loans,” he added.

Ogundipe, who previously made headlines in 2020 when he was convicted and sentenced for defrauding a London-based architect, did not disclose whether he accepted or declined the bank’s offer. His past legal issues involved charges of theft, unlawful conversion of property, forgery, and fraud, where he was accused of illegally obtaining N14 million and £12,000 from the victim between 2002 and 2005.

The revelation has sparked discussions about the relationship between financial institutions and religious organizations in Nigeria, raising questions about the ethics and sustainability of such financial arrangements.