The Economic and Financial Crimes Commission (EFCC) on Thursday re-arraigned two top executives of Covenant Fadama Multi-purpose Cooperative Society—Okewole Dayo and Bishop Katung Jonas—before Justice Sharon T. Ishaya of the Federal High Court sitting in Jos, Plateau State.
Okewole, who served as Secretary, and Jonas, the Chairman of the society, are facing a 23-count charge bordering on conspiracy, obtaining money under false pretence, and money laundering amounting to ₦178.8 million.
According to Dele Oyewale, EFCC’s Head of Media and Publicity, investigations revealed that the defendants allegedly formed the cooperative society to fraudulently lure unsuspecting members of the public into investing large sums of money. The funds were allegedly laundered through multiple bank accounts and withdrawn using proxies, with proceeds used to acquire properties in Jos and Kaduna.
One of the charges, Count 2, 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 knowingly transfer the sum of ₦50,000,000 (Fifty Million Naira) from Covenant Fadama Cooperative Society’s First Bank Account into Dadin Kowa Micro Finance Account, which sum represents proceeds of unlawful activity 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, sometime in 2012, did, with intent to defraud, obtain the sum of ₦10,000,000 (Ten Million Naira) from Reke Vida Ltd under the false pretence that the funds would be invested in the cooperative with a promised 10% monthly dividend, 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.”
Both defendants pleaded not guilty to all charges.
Prosecuting counsel, Ibrahim Buba, informed the court of the EFCC’s readiness to commence trial, noting that hearing dates had already been set.
“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, defence counsel for the second defendant, J.J. Achi, cited a personal emergency: “My Lord, my brother is critically ill and is scheduled for surgery. My presence is urgently needed.”
C.I. Nwogbo, representing the first defendant, also asked for more time, stating: “I recently joined the case and only applied for Certified True Copies of documents on April 2. I’ve yet to receive them, and my client does not reside in Jos, which complicates logistics.”
Justice Ishaya expressed disappointment over the delays, particularly noting the inconvenience caused to the prosecution team traveling from Abuja.
“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 about the number of witnesses, Buba explained: “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.”
After hearing all submissions, Justice Ishaya adjourned the matter to Monday, July 22, and Tuesday, July 23, 2025, for continuation of trial.