Pastor Chris: What You Should Know About His New Commercial Bank

Pastor Chris Oyakhilome, a prominent televangelist and the founder and president of Believers’ Love World Incorporated, commonly known as Christ Embassy, deserves credit when it comes to business behind the pulpit.

Pastor Chris’s commercial bank, Parallex Bank, is the most recent addition to his portfolio of businesses.

The bank, which began as a microfinance institution, has evolved into a full-fledged commercial institution. It would be the first time in Nigeria that a microfinance bank became a commercial bank.

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Chairman of the Board is Dr. Pastor Adeola Phillips, CEO of Loveworld Nation, and Managing Director is Mr. Olufemi Bakre.

The bank’s headquarter is at Victoria Island in Lagos.

The bank, which began operations on Friday, January 14, 2022, is expected to change the banking scene in Nigeria and Africa as a whole.

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(L-R) Parallex Bank Board Member Reverend Thomas Ehis Amenkhienan, Parallex Bank Chairperson Dr. Adeola Phillips, Parallex Bank Managing Director Mr. Olufemi Bakre, and Deputy Governor

Olufemi Bakre, the Managing Director of Parallex Bank and father of Big Brother Naija ex-Housemate Tobi Bakre, stated that the bank’s promise to its consumers is to enable limitless banking.

He established that Parallex Bank was the first microfinance bank in Nigeria to convert to a commercial bank.

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Pastor Chris Oyakhilome’s Christ Embassy, which has branches in Nigeria, South Africa, London, Canada, and the United States, has diversified its economic holdings over the years, including newspapers, journals, and other publications.

Figure 2 (L-R) Reverend Vale Odu-Thomas, Reverend Thomas Ehis Amenkhienan, Chairperson, Board of Directors, Parallex Bank, Dr. Adeola Phillips, Managing Director, Mr. Olufemi Bakre

Loveworld Publications, the church’s publishing arm, publishes ‘Rhapsody of Realities,’ a monthly devotional. It is also believed to be the owner of a local television station, a record label, satellite television, a fast-food chain, hotels, and a large amount of real estate.

Loveworld TV Network is said to be the first Christian network to broadcast 24 hours a day from Africa to the rest of the world.
Oyakhilome was named one of Nigeria’s five wealthiest pastors by Forbes in 2011.

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