The Economic and Financial Crimes Commission (EFCC) has re-arraigned two executives of the Covenant Fadama Multi-purpose Cooperative Society on charges of fraud totaling over ₦178 million.
The defendants Secretary Okewole Dayo and Chairman Bishop Katung Jonas were brought before Justice Sharon T. Ishaya of the Federal High Court in Jos, Plateau State, on Thursday, May 29, 2025.
They are facing a 23-count charge bordering on conspiracy, obtaining money under false pretence, and money laundering amounting to ₦178,885,000.
According to the EFCC, the defendants allegedly set up the cooperative society as a front to lure unsuspecting investors into parting with large sums of money. The funds were allegedly laundered through various bank accounts and withdrawn using proxies, with some of the proceeds used to acquire properties in Jos and Kaduna.
One of the charges, Count 2, alleges:
“That you, OKEWOLE DAYO (Alias OKEWOLE DAVID DAYO) and BISHOP KATUNG JONAS, being Secretary and Chairman of Covenant Fadama Cooperative Society, sometime in 2012… did knowingly transfer the sum of ₦50,000,000… which sum represents proceeds of unlawful act.”
Another charge, Count 8, states:
“That you… did, with intent to defraud, obtain the sum of ₦10,000,000 from Reke Vida Ltd under the false pretence… to pay a monthly 10% dividend as return on investment, which you knew to be false.”
Both defendants pleaded not guilty to all charges.
Prosecution counsel, Ibrahim Buba, expressed the EFCC’s readiness to proceed with trial. “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,” he told the court.
However, the defence teams raised concerns about their availability.
Counsel to the second defendant, J.J. Achi, cited a personal emergency. “My Lord, my brother is critically ill and my attention is urgently required,” he explained.
C.I. Nwogbo, representing the first defendant, said he had recently joined the case and was still awaiting essential documents. “I’ve not received the Certified True Copies of the documents attached to the proof of evidence. There are also logistical issues as my client does not reside in Jos,” he stated.
Justice Ishaya expressed frustration over the delays. “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,” she said.
When asked how many witnesses the prosecution planned to call, Buba replied, “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 judge adjourned the matter to July 22 and 23, 2025, for continuation of trial.