The Economic and Financial Crimes Commission (EFCC) on Thursday, May 29, 2025, re-arraigned two top officials of the Covenant Fadama Multi-purpose Cooperative Society over an alleged ₦178.8 million fraud. The society’s Secretary, Okewole Dayo, and Chairman, Bishop Katung Jonas, appeared before Justice Sharon T. Ishaya at the Federal High Court in Jos, Plateau State.
The duo face a 23-count charge involving conspiracy, obtaining money under false pretences, and money laundering totaling ₦178,885,000.
EFCC investigations allege the defendants established the cooperative society to fraudulently lure the public into investing large sums of money. The funds were reportedly funneled through several bank accounts and withdrawn via proxies, with some used to acquire properties in Jos and Kaduna.
One of the charges, Count 2, alleges that in 2012, the defendants knowingly transferred ₦50 million—proceeds of unlawful activity—from the society’s First Bank account to another account at Dadin Kowa Microfinance Bank. This act, the EFCC claims, violates sections of the Money Laundering (Prohibition) Act, 2012.
Count 8 accuses the pair of defrauding Reke Vida Ltd of ₦10 million under the pretense of investment membership in the cooperative, promising a monthly 10% return—an offer prosecutors say was knowingly false.
Both defendants pleaded not guilty to all charges.
EFCC counsel Ibrahim Buba indicated the Commission was prepared to proceed with the trial. “We’re ready to open our case and begin calling witnesses. A date has already been fixed for tomorrow, My Lord,” he said.
However, both defence counsels requested a postponement. J.J. Achi, representing the second defendant, cited a family medical emergency. “My brother is critically ill and undergoing surgery. I need to be present,” he told the court.
C.I. Nwogbo, representing the first defendant, also asked for more time, citing late entry into the case and a lack of access to relevant court documents. He noted logistical challenges, as his client does not reside in Jos.
Justice Ishaya expressed frustration over the delays, particularly given the EFCC’s travel from Abuja. “I do not appreciate a situation where counsel travels such a distance without any progress,” she said.
In response to the judge’s inquiry, Buba noted that while the EFCC had initially listed 18 witnesses, some are now unavailable and two have died. He suggested new witnesses might be added.
The court adjourned the case to July 22 and 23, 2025, for continuation of trial.
