Billionaire Pastor! How Pastor David Oyedepo Allegedly Set Up Family Offshore Company In Tax Haven

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Pastor Oyedepo, who is wealthy and flashy, recently stated that money has never been an issue for his church. This is the narrative of a family- owned business in the British Virgin Islands.

David Oyedepo, the founder and general overseer of Living Faith Church Worldwide, is the latest Nigerian mega- preacher discovered to have set up a family offshore company in the British Virgin Islands, following Chris Oyakhilome of Christ Embassy and the late Temitope Joshua, the founder of Synagogue Church of All Nations.

Pastor Oyedepo’ s offshore firm was discovered as part of the continuing worldwide Pandora Papers investigation, which is being headed by the International Consortium of Investigative Journalists (ICIJ) and in which PREMIUM TIMES is a crucial participant.

600 journalists from 150 news organizations around the world worked on the project, which included sifting and analyzing about 12 million confidential data, tracing down and interviewing sources, and providing context using public records and other documents.

Information Collected From Documents Gotten From Offshore Services Organization Around The World That Reveals Pastor Oyedepo’ s Assets

The documents were obtained from a number of offshore services organizations around the world that set up shell corporations and other offshore entities for clients, many of whom were powerful politicians, businesspeople, and criminals who wanted to hide their financial operations.

Pastor Oyedepo hired Business Centrum Limited, a London- based agent, in August 2007 to assist him in forming a company in the famed tax haven for himself and his immediate family.

Trident Trust Group, one of the world’ s major secrecy enablers and one of the most notorious providers of offshore corporate and financial services, was then subcontracted by Business Centrum. Zadok Investments Limited was established on August 20, 2007, with 50, 000 ordinary shares at $1. 00 each.

Mr Oyedepo and his two sons, David (junior) and Isaac, are the company’ s directors, however every member of Mr Oyedepo’ s family is listed as a stakeholder. With 30 percent of the stock, Pastor Oyedepo and his wife, Faith, are the largest stockholders.

David (junior), who was appointed resident pastor of the church’ s headquarters, Faith Tabernacle, in 2016, owns 10% of the shares, while Isaac, who is the resident pastor of the church’ s branch in Maryland, the United States of America, also has 10%. Love and Joy, the cleric’ s two daughters, were each awarded a ten percent portion of the estate.

The documentation were vague about the businesses and transactions that the offshore firm was set up to execute. The entity, on the other hand, appears to be the family’ s investment vehicle, with the wealth of the family being stored for offshore administration.

How Pastor Oyedepo Once Refuted Forbes Magazine’ s Information Because They Undervalued His Assets

Pastor Oyedepo, who felt ” insulted” by Forbes Magazine’ s $150 million assessment in 2011, is one of the leading proponents of the prosperity gospel in Christendom, and his multiplicity of commercial endeavors embodies this.

” Someone told me we were worth $150 million, and I told him that was an insult. Is it really $150 million? That’ s a slap in the face. He said, ” I’ m worth Philippians 4: 19, ” referring to the Forbes valuation.

” And my God will fulfill all your needs according to the riches of his glory in Christ Jesus, ” Philippians 4: 19 says.

Pastor Oyedepo’ s Response To Firing Some Of His Church Pastors For Being Unfruitful

Pastor Oyedepo recently stated, in response to reports that some of the church’ s pastors were fired without pay, that his church had never been short on funds. He described the sacked pastors as ” unfruitful” and ” blatant failures. ”

” Money? Nonsense! We’ ve never been without it, but we’ ve never asked for it. We’ re just doing what God tells us to do, and he’ s backing us up. ”

” Obedience will transform you into a living miracle. ” Simply follow God’ s instructions. Have you seen us raise a prayer point that says, ” Oh God, send us money? ” later in the speech? .

Pastor Oyedepo is also known for his acquisition of at least four private jets, including a Gulfstream V jet worth at least $30 million, two other Gulfstream planes, and a Bombardier Challenger plane, which he operates through Dominion Air Limited, another of his firms.

Implications

Nigeria is a country renowned for producing millionaire pastors and poor members, some pastors even build buisnesses and universities which their members can not attend due to high tuition.

But with the kind of information which have been revealed after thorough Investigation, some of his congregation members will definitely start to have second thoughts about the whole situation.

Since it is said that money is the root of all evils, what could the immense wealth of Pastor Oyedepo mean to his congregation and his church as a whole? Let us know your opinion in the comments section.

Netizens Reactions

See the reactions of people on social media below:

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Source: Mcebiscoo.com

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