Elevation Church: We didn’t invest N500m in N25bn Ponzi scheme




Evangelical Pentecostal platform, The Elevation Church, on Tuesday said it never invested N500 million in an alleged Ponzi scheme operated by a former Zenith Bank employee Bamise Ajetunmobi, and his wife.


The church based in Lekki, Lagos State responded in a statement after a barrage of enquiries from Nigerians following news that some churches, financial institutions and individuals had lost N25bn to the couple’s Ponzi scheme known as Imagine Global Solutions Limited.

The statement reads, “The attention of the Trustees of The Elevation Church has been drawn to an online news item purporting to directly link The Elevation Church (TEC) with a company known as Imagine Global Solutions Ltd (Imagine Lenders) as an investor; with an alleged investment sum of five hundred million naira.

“We would ordinarily not respond or indeed join issues on such matters in the media. However, to prevent the public from misconstruing the silence of the Church as an admission of the unfounded publication, we, recognising the Church’s moral and legal obligation of accountability, probity and transparency in the conduct of her affairs, have decided to provide this response.

“The Elevation Church is an Incorporated Trustee registered under the extant Companies and Allied Matters Act (‘CAMA’) with the object of charities and the advancement of the kingdom of God.

“In other words, the mandate of the Church for the past eleven years of existence has been centred around the propagation of the gospel of Christ and meeting the spiritual and physical needs of members and non-members through charitable outreaches and programmes.

“It is in view of the foregoing that we refute in its entirety the publication that the Church has any business interest or investment in Imagine Global Solutions Ltd.”