N1.3billion Fraud: How Pastor Oloche Ebonyi Acquired Hotel, Factory with Subscribers’ Funds

Feb. 8, 2024

Fresh facts have emerged about the alleged criminal activities of the General Overseer of Faith On The Rock Ministry International, Apostle Theophilus Oloche Ebonyi, recently arrested by the Economic and Financial Crimes Commission, EFCC.

Investigations showed that Ebonyi acquired a 23-room hotel, a pure water factory, two blocks of a Primary School and two bungalow office at Nyanya-Gwandara, New Karu, Abuja and a five-bedroom duplex at Karsana, Abuja with the proceeds of his fraudulent dealings with his subscribers.

He also set up a live broadcast channel with studio equipment for his Theobarth Global Foundation with the funds of his subscribers.

Ebonyi was arrested in 2023 by the EFCC for allegedly defrauding his church members and other Nigerians using fake grants from the Ford Foundation to the tune of N1, 319,040,274.31(One Billion Three Hundred and Nineteen Million, Forty Thousand, Two Hundred and Seventy Four Naira, Thirty One Kobo).

Specifically, he was arrested for defrauding his victims, comprising Non Governmental Organisations, NGOs and individuals by advertising an intervention project through his NGO (Theobarth Global Foundation) claiming that the Ford Foundation was offering a grant of $20,000,000,000 (Twenty Billion United State Dollars) to assist the less-privileged in the society.

He allegedly hoodwinked his victims to subscribe as beneficiaries of the phony grant by asking them to pay for registration forms and clusters. Each subscriber was made to pay N1,800,000( One Million, Eight Hundred Thousand Naira only). Through this arrangement, Ebonyi allegedly raked in N1,391,040, 274.31. His subscribers are innocent and unsuspecting Nigerians and NGOs across the country.

Investigations by the EFCC showed that Ford Foundation had no arrangement, grant, relationship or business with Ebonyi. The Foundation pointedly disclaimed him and his NGO stressing that it had no link whatsoever with them. The Commission has also traced five properties he acquired as proceeds of his criminal dealings.

Ebonyi is still reportedly reaching his subscribers on some social media platforms to market his spurious grant from Ford Foundation.