EFCC Re-Arraigns Cooperative Society Executives For Alleged N178million Fraud In Jos
EFCC Re-Arraigns Cooperative Society Executives For Alleged N178million Fraud In Jos
The accused, tbs society chairman, Bishop Katung Jonas, and Secretary, Okewole Dayo, were re-arraigned before Justice Sharon T. Ishaya at the Federal High Court sitting in Jos, Plateau State, on Thursday.
The Economic and Financial Crimes Commission (EFCC) has re-arraigned two top executives of the Covenant Fadama Multi-purpose Cooperative Society over their alleged involvement in a N178,885,000 fraud.
The accused, tbs society chairman, Bishop Katung Jonas, and Secretary, Okewole Dayo, were re-arraigned before Justice Sharon T. Ishaya at the Federal High Court sitting in Jos, Plateau State, on Thursday.
The duo face a 23-count charge bordering on conspiracy, obtaining money under false pretence, and money laundering.
According to the EFCC, investigations revealed that the defendants allegedly set up the cooperative society to lure unsuspecting members of the public into investing substantial sums of money, which were subsequently laundered through multiple bank accounts and proxies.
The illicit proceeds were allegedly used to purchase properties in Jos and Kaduna.
Count 2 of the charges read, “That you, Okewole Dayo (Alias Okewole David Dayo) and Bishop Katung Jonas, being Secretary and Chairman of Covenant Fadama Cooperative Society, sometime in 2012 within the jurisdiction of this Honourable Court, did knowingly transfer the sum of N50,000,000 from Covenant Fadama Cooperative Society’s First Bank Account number 2003050001625 into Dadin Kowa Microfinance Account, First Bank Account number 2016452671, which sum represents proceeds of unlawful act and thereby committed an offence contrary to Section 15(2)(b) of the Money Laundering (Prohibition) Act, 2012 and punishable under Section 15(3) of the same Act.”
Count 8 reads, “That you, Okewole Dayo (Alias Okewole David Dayo) and Bishop Katung Jonas, being Secretary and Chairman of Covenant Fadama Cooperative Society, sometime in 2012 within the jurisdiction of this Honourable Court, did, with intent to defraud, obtain the sum of N10,000,000 from Reke Vida Ltd under the false pretence that you were going to invest the money in Covenant Fadama Cooperative Society as members and pay a monthly 10% dividend as return on investment, which you knew to be false, thereby committing an offence contrary to Section 1(1)(a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act.”
However, the defendants pleaded not guilty when the charges were read to them in court.
Following their plea, the prosecuting counsel Ibrahim Buba announced the EFCC’s preparedness to proceed with the case.
“In view of the defendants’ not guilty pleas, we are ready to open our case and bring in our witnesses. We already have a date fixed for tomorrow, my Lord,” Buba stated.
However, the defence sought adjournment on grounds of unavailability.
Counsel to the second defendant, J.J. Achi, explained his absence was due to a family emergency.
He said, “My Lord, my brother is critically ill and was brought from Kaduna. He is to be moved into theatre, and my attention is urgently required.”
Counsel to the first defendant, C.I. Nwogbo, also requested a delay, citing limited preparation time.
“I just recently joined the case and applied for the Certified True Copies of documents attached to the proof of evidence on April 2. I’ve not received them yet, and there are logistical issues with my client who does not reside in Jos,” he told the court.
Meanwhile, Justice Ishaya expressed concern over the postponement, noting the challenges it posed to the prosecution.
“The prosecution is coming all the way from Abuja. I do not appreciate a situation where counsel travels such a distance without making any progress,” the judge said.
Responding to a question from the judge, Buba revealed, “We initially had 18 witnesses on our list, but due to the passage of time, some are now inaccessible and two are deceased. There may be a need to add new witnesses.”
The matter was adjourned to July 22 and 23, 2025 for continuation of trial.
EFCC PRESS RELEASE
EFCC Re-arraigns Fadama Society Executives for Alleged ₦178m Fraud in Jos
The Economic and Financial Crimes Commission, EFCC, on Thursday, May 29, 2025, re-arraigned two executives of the Covenant Fadama Multi-purpose Cooperative Society, its Secretary,… pic.twitter.com/dZWHHcELkh
— EFCC Nigeria (@officialEFCC) May 29, 2025
