Findings revealed that the general overseer of Citadel Global Community Church formerly known as Latter Rain Assembly, Pastor Bakare has been reported in the media to be swimming in debt of N9 billion loan which he allegedly collected from WEMA Bank.
Pastor Tunde Bakare speaks regarding the loan saga while addressing newsmen on Tuesday in Lagos, he said;
“Citadel was financed by 5 banks, no Govt money, not one dime. The only person in government who gave us money was BUHARI – the N5m I mentioned earlier…Even the loans we took, we didn’t take a penny into account, they were paid directly to contractors.
Out of the 5 banks, we have paid 2 off. We are on the 3rd one now ie Fidelity.We have paid off Unity bank and UBA.
We are paying Fidelity now. The other 2 other banks have restructured the facility so that instead of 2 years, it is now 5 years where we can pay in installments.”
~ Pastor Tunde Bakare speaks