Televangelist's companies face liquidation over links to R650m KZN pyramid scheme

Two nonprofit religious organisations linked to Nigerian mega pastor and televangelist Joshua Iginla have been placed into provisional liquidation as investigators seek to recover funds from a R650-million pyramid scheme.

Champions Royal Assembly NPC and Joshua Iginla Ministries NPC - described in a new court ruling as "religious organisations under the direction of" Iginla - were named in an ongoing investigation into the collapse of Supreme National Stock (SNS) Holdings.

Pietermaritzburg-based SNS collapsed in late 2019, just weeks after its directors tried to assure worried investors of its financial stability, promising it was "here to stay". Its directors, Sandile and Nomalizo Sibiya, were arrested soon after.