The cleric died on Wednesday. He had been under treatment in London hospital.
He was reportedly diagnosed with a heart-related ailment.
Agboli, in his 50s, started VAM in 1995. The church has branches in Southern States, South Africa, United Kingdom and the United States.
The worship centre and international headquarters on Acme Road in Ogba, Lagos was developed in 1998.
The deceased was married to Pastor Blessing, an author and speaker.
The wife leads the Victorious Virtuous Women of VAM, where she coordinates and teaches single and married people.