Israel Ogundipe, a well-known pastor of the Celestial Church of Christ and founder of Genesis Global Ministry in Lagos, has disclosed that a bank recently offered him a loan of N1 billion to facilitate the expansion of his ministry.
In an interview with popular Nigerian On-Air Personality Ifedayo Olarinde, known as Daddy Freeze, Ogundipe revealed that the bank aimed to assist him in reaching a wider audience. He did not disclose the name of the bank but noted that they provided him with examples of other churches that had secured similar loans, with amounts ranging from N3 billion to N4 billion.
“A bank approached me two months ago with an offer for a N1 billion loan,” Ogundipe stated. “They indicated that they were aware of the trend of churches obtaining such loans and believed I could repay it due to the size of my congregation.”
He further explained his conversation with the bank regarding repayment terms: “When I asked how they expected me to repay the loan, they mentioned that payments would come from the proceeds of our revivals and crusades. They highlighted other churches that had received substantial loans, suggesting that continuous conferences and events would generate the necessary funds for repayment.”
It’s important to note that Ogundipe has faced legal challenges in the past. In 2020, he was convicted and sentenced for defrauding a London-based architect and unlawfully converting her property for personal use. He faced multiple charges, including theft, forgery, and fraudulently obtaining N14 million and £12,000 from the victim between 2002 and 2005.
