Finance

Imagine Global: Like PiggyVest, The Elevation Church denies investing N500 million

Nigeria Naira

The Elevation Church (TEC), a non-denominational Christian ministry, says it did not invest in Imagine Global Solutions Limited, a lending company.

There have been rumours on social media that the church allegedly invested N500 million in the scheme, but the church said “there is no iota of truth” in the speculations.

Reports had alleged that one Bamise Ajetumobi and Elizabeth Ajetunmobi, his wife, founders of Imagine Global, fled with billions of naira belonging to their investors.

The company claimed to be among microfinance institutions licenced by the Central Bank of Nigeria (CBN).

Similarly, PiggyVest, an online savings platform, was linked to Imagine Global — but the company swiftly denied the reports.

In a statement, the trustees of The Elevation Church urged the public to disregard the report.

They emphasised that the church has no business interest or any investment whatsoever in Imagine Global.

“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,” the statement reads.

“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.

“We urge the public to totally disregard the report as there is no iota of truth in the publication. The Elevation Church has no such investment, whatsoever.”

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