Matthew Ashimolowo

In a subsequent debate in the House of Lords, Lord Swinfen questioned the Charity Commission's running of this investigation. He acknowledged the technical breach, but highlighted its openness, "This unincorporated trust has for some years been remunerating its trustees for various services and doing so quite openly. It made the mistake of not realising that it should have altered its constitution explicitly to allow that to be done." He then questioned the cost of the investigation "With some advice from the commission and the use of the charity lawyer, the trustees of this charity could have affected these changes for some £12,000—one-hundredth of the sum the commission has already spent." He added "The commission believes, understandably, that the future success of this charity is assured by the charity having new trustees".

Forbes estimated Ashimolowo's net worth is at between $6–10 million. KICC annual accounts confirmed that he earns an annual salary of £100,000 but the majority of his wealth comes from the sale of Christian literature and documentaries from his media company, Matthew Ashimolowo media. Ashimolowo is considered a preacher of the prosperity gospel.

The charity behind Kingsway International Christian Centre is The King's Ministries Trust. This was investigated by the Charity Commission of England and Wales between 2002 and 2005. A report of the inquiry was released in October 2005. The report concluded that there had been serious misconduct and mismanagement in the administration of the charity. At an early stage in the investigation, it was considered that the charity's assets were at risk, and control was removed from the existing trustees and placed in the hands of an independent external company (the accountancy and management consultancy practice KPMG), who regularised the charity's affairs.

Matthew Ashimolowo (born 17 March 1952) is a Nigerian clergyman, the senior pastor of Kingsway International Christian Centre (KICC) in London.