Two non-profit religious organizations associated with Nigerian mega-pastor and televangelist Joshua Iginla have been provisionally liquidated as authorities probe an R650 million pyramid scheme.
Champions Royal Assembly NPC and Joshua Iginla Ministries NPC, both defined as “religious organisations under the direction of” Iginla in a recent court order, are now part of a Supreme National Stock (SNS) Holdings collapse investigation.
The Pietermaritzburg-based SNS collapsed in late 2019 after its directors assured investors it was “here to stay.”
Director Sandile and Nomalizo Sibiya were arrested shortly after the company’s dissolution.
Due to concerns that Iginla’s groups got SNS funds, the probe has broadened.
Provisional liquidation protects plan assets and prevents future losses.
