The Suisse microfinance Bank is owned by Christ Embassy Church a.k.a Believers Loveworld, the bank is located at Gacoun Plaza, 23 Road Festac Town Lagos . It is among the fleets of banks owned by the church, which also owned Parallex microfinance Bank and Refuge Home Savings. The Suisse MFB is run and manage by Pastor Ayodele Olusola who is the MD/CEO of the bank and members of the board of directors are senior pastors in the church including Pastor Lanre Alabi, Tokubo Odimayo, Adebisi Sogunle, Tim Onebamo. Pastor Ayodele Olusola is the pastor of Christ Embassy Church Mafoluku Oshodi Lagos. Ayodele Olusola has runned the bank as a personal business throwing all the ethics and rules of running microfinance Bank to the wind. He recruited people who are members of the church as marketers to collect money from people on daily basis as savings. The marketers usually go about with savings cards, the first one thousand naira you save with them belongs to the bank and at the end of the month the bank will deduct another one thousand naira for helping you to save. The Suisse MFB also have big savers who have their millions as investment in the bank. They collected Millions of naira from these set of people as investment with the promise of paying interest on it. Now the bank has runned into deep financial mess and the bank can not pay the poor savers and the big savers who have their Millions with them. The estimation of the money the bank owned people is over 200 Million. The bank locked their premises on 16th of December and went hiding, all of a sudden resurface first week of February and paid few small savers less than two million and again have gone into hiding. And the church being money minded church is unwilling to rescue the situation. I guess pastor Chris Oyakhilomen must be aware of this situation as The Nation newspaper carried it on the 28 of January as http://thenationonlineng.net/were-finished/ . This shows the church does not practice what they preach and is only after people money. And there is an allegations that Pastor Ayodele Olusola might used the money for Ponzi Scheme as he can not disclose what he actually used the money for. This is a big criminal offence which the government should look into.

What a shame