Wealth Profile Of The Redeemed Evangelical Mission (Trem)
The Redeemed Evangelical Mission, popularly known as TREM, is one of Nigeria’s most influential Pentecostal ministries, founded by Bishop Mike Okonkwo on January 4, 1981. With its headquarters in Lagos, Nigeria, and a network of over 180 churches spread across Africa, Europe, North America, and the Middle East, TREM is not just a church—it is a movement.
Over the decades, TREM has grown both spiritually and financially. From humble beginnings in a small hall to the construction of one of the largest worship auditoriums in Lagos, its success is a combination of visionary leadership, committed membership, strategic financial planning, and consistent outreach. In this blog post, we explore the wealth profile of TREM—unpacking its income sources, assets, philanthropic work, governance structure, and the financial integrity that keeps it thriving.
The Genesis of a Megachurch
Bishop Mike Okonkwo was originally a banker and later became a full-time minister. After serving with the United Church of Christ in Nigeria (UCCN), he felt led to establish TREM in 1981. The church's mission, "Raising people of impact," has defined its ministry direction for more than four decades.
From a small congregation meeting in a modest location, TREM quickly began expanding its reach. The ministry saw exponential growth in attendance, satellite churches, conferences, and social impact initiatives.
Major Streams of Income
1. Tithes and Offerings
Like most Pentecostal churches, TREM’s financial foundation lies in the biblical practice of tithing and freewill offerings. Members are encouraged to give both in person and through online platforms. With its vast congregation base—both physically and virtually—TREM is supported by a strong and consistent flow of giving.
2. Special Donations and Pledges
During church projects, conferences, and building development, TREM raises special funds from members and supporters. These are usually one-time or recurring contributions made toward specific objectives such as auditorium construction, missions outreach, or media upgrades.
3. Annual Conferences and Events
The Kingdom Life World Conference, one of TREM’s flagship annual events, draws thousands of attendees from within and outside Nigeria. Through registration fees, conference offerings, sponsorships, and merchandising, the event generates substantial income.
Other notable events such as Zamar (TREM's gospel music concert) also contribute through ticket sales and partnerships with brands and gospel music personalities.
4. Media and Online Ministry
TREM runs a thriving media ministry known as Power in the Word, which streams services, teachings, and music across multiple platforms. Its YouTube channel, television broadcasts, and radio programs reach millions, creating monetization opportunities through digital ads, sponsorships, and DVD/CD sales.
Bishop Mike Okonkwo and his wife, Bishop Peace Okonkwo, also write books, devotionals, and Bible study manuals that are sold online and at church events.
5. Educational Institutions
TREM operates its own schools known as the Word of Power Group of Schools, offering nursery, primary, and secondary education. While these schools are part of the church’s social impact mission, they also generate income through tuition and donations.
Monumental Infrastructure and Real Estate
The Place of Our Sanctuary – Gbagada, Lagos
TREM's headquarters, known as The Cathedral of His Glory, located in Gbagada, Lagos, is an architectural marvel. Often referred to as the Place of Our Sanctuary, this 15,000-seat auditorium is one of Nigeria’s most iconic church structures. It was dedicated in July 2011 and serves as the hub for the church’s national and international activities.
The Gbagada complex includes administrative buildings, media centers, children’s chapels, parking space, and training facilities. This multi-million-naira facility stands as a symbol of TREM’s financial and organizational strength.
Global Church Properties
TREM has purchased and developed properties in major cities across Nigeria and globally, including London, Atlanta, Johannesburg, and Accra. These properties host church services, mission outreach, and social initiatives, and serve as significant long-term real estate assets.
Financial Reporting and Transparency
One of the most commendable aspects of TREM’s wealth profile is its focus on accountability. Each TREM branch is required to submit monthly financial reports detailing receipts and expenditures. This centralized financial control ensures transparency, prevents misuse of funds, and aids in effective planning.
According to reports submitted to the UK Charity Commission, TREM's UK arm had net assets of £4.49 million as of December 2023. These assets include real estate, cash in banks, and investments, demonstrating the church's healthy financial standing abroad.
Leadership and Net Worth
Bishop Mike Okonkwo, the presiding bishop of TREM, is a respected leader known for his simplicity and integrity. Though exact figures are speculative, his estimated net worth is around $3 million. This includes personal properties, investments, and royalties from his books and teachings.
Notably, Bishop Mike is one of the few Nigerian megachurch leaders known for his moderate lifestyle. There are no widely reported extravagant possessions or controversies, which enhances the credibility of TREM’s financial operations.
Philanthropy and Social Impact
TREM is a beacon of hope to many Nigerians, not just through spiritual teachings but also through real-world assistance.
Medical Outreaches
The church regularly conducts medical missions in underserved communities. Volunteer doctors and healthcare professionals offer free medical checkups, treatments, and medications.
Scholarship Programs
TREM supports students through scholarships and educational materials. These scholarships are awarded based on merit and need and have empowered hundreds of young people across Nigeria and abroad.
Food and Relief Distribution
During periods of national crisis, such as the COVID-19 pandemic, TREM provided food items, personal protective equipment, and financial assistance to low-income families.
Women and Youth Empowerment
Through the Empowerment for the Less Privileged (ELP) Foundation, founded by Bishop Peace Okonkwo, TREM empowers widows, single mothers, and jobless youths with vocational training, startup grants, and mentorship.
Embracing Digital Transformation
TREM is embracing technology to further its mission. With mobile money, online banking, and even cryptocurrency options under consideration, the church is building a more robust digital infrastructure to support its operations and expand its reach.
This digital strategy not only improves member engagement but also ensures more efficient fundraising and accountability in an increasingly cashless economy.
Final Thoughts
The Redeemed Evangelical Mission (TREM) has distinguished itself not just as a place of worship but as a well-organized, financially sound institution committed to spiritual growth, education, community development, and accountability.
Its wealth profile is built on responsible stewardship, strategic investments, and the generosity of its faithful congregation. With over four decades of impactful ministry, TREM continues to be a shining example of what is possible when vision meets integrity, and spirituality is combined with sound administration.
As it continues to evolve, TREM’s challenge remains the same—to stay spiritually grounded while navigating the complexities of modern ministry, finance, and global expansion.
