The {Economic} and {Financial} Crimes Fee, EFCC, on Thursday, re-arraigned two executives of the Covenant Fadama Multi-purpose Cooperative Society, its Secretary, Okewole Dayo, and Chairman, Katung Jonas, over fees bordering on alleged N178,885,000 fraud.
They have been re-arraigned earlier than Justice Sharon T. Ishaya of the Federal Excessive Courtroom sitting in Jos, Plateau State, in response to an announcement by the {Economic} and {Financial} Crimes Fee (EFCC).
The duo have been sued on a 23-count cost bordering on conspiracy, acquiring cash below false pretence, and cash laundering to the tune of N178,885,000.
In accordance with the assertion, investigations by the EFCC revealed that the defendants allegedly shaped the cooperative society to fraudulently induce unsuspecting members of the general public into investing substantial sums of cash.
The funds, in response to the Fee, have been then laundered via a number of {bank} accounts and allegedly withdrawn utilizing proxies.
The EFCC accused the defendants of utilizing the proceeds to allegedly purchase properties in Jos and Kaduna states.
The cost partly reads:
“That you simply, OKEWOLE DAYO (Alias OKEWOLE DAVID DAYO) and BISHOP KATUNG JONAS, being Secretary and Chairman of Covenant Fadama Cooperative Society, someday in 2012 inside the jurisdiction of this Honourable Courtroom, did knowingly switch the sum of N50,000,000 (Fifty Million Naira) from Covenant Fadama Cooperative Society’s First {Bank} Account quantity 2003050001625 into Dadin Kowa Micro Finance Account, First {Bank} Account quantity 2016452671, which sum represents proceeds of illegal act and thereby dedicated an offence opposite to Part 15(2)(b) of the Cash Laundering (Prohibition) Act, 2012 and punishable below Part 15(3) of the identical Act.”
“That you simply, OKEWOLE DAYO (Alias OKEWOLE DAVID DAYO) and BISHOP KATUNG JONAS, being Secretary and Chairman of Covenant Fadama Cooperative Society, someday in 2012 inside the jurisdiction of this Honourable Courtroom, did, with intent to defraud, get hold of the sum of N10,000,000 (Ten Million Naira) from Reke Vida Ltd below the false pretence that you simply have been going to speculate the cash in Covenant Fadama Cooperative Society as members and pay a month-to-month 10% dividend as return on funding, which you knew to be false, thereby committing an offence opposite to Part 1(1)(a) of the Advance Payment Fraud and Different Fraud Associated Offences Act, 2006 and punishable below Part 1(3) of the identical Act.”
On the Courtroom session, each defendants pleaded not responsible when the fees have been learn to them, following their re-arraignment.
“In view of the defendants’ not responsible pleas, we’re able to open our case and herald our witnesses. We have already got a date fastened for tomorrow, my Lord,” he stated.
“I only recently joined the case and utilized for the Licensed True Copies of paperwork connected to the proof of proof on April 2. I’ve not acquired them but, and there are logistical points with my shopper who doesn’t reside in Jos,” Nwogbo said, as quoted within the EFCC assertion.
Justice Ishaya requested the prosecution what number of witnesses they supposed to current in the middle of the trial.
“We initially had 18 witnesses on our listing, however as a result of passage of time, some at the moment are inaccessible, and two are deceased. There could also be a necessity so as to add new witnesses, ” Buba responded.
After listening to the attorneys, Justice Ishaya adjourned the case to July 22 and 23, 2025, for the continuation of trial.
