EFCC battles prominent Bishop in court over alleged N178 million fraud

• The Economic and Financial Crimes Commission (EFCC) re-arraigned 2 executives of the Covenant Fadama Multi-purpose Cooperative Society connected May 29, 2025, implicit allegations of conspiracy, fraud, and wealth laundering amounting to ₦178,885,000
• The defendants, Secretary Okewole Dayo and Chairman Bishop Katung Jonas, allegedly lured unsuspecting investors into backing the cooperative, lone for the wealth to beryllium laundered and utilized to get properties
• Both pleaded not guilty, portion the tribunal adjourned proceedings to July 22 and 23, 2025, pursuing concerns implicit proceedings delays and witnesser availability

The Economic and Financial Crimes Commission (EFCC) re-arraigned 2 executives of the Covenant Fadama Multi-purpose Cooperative Society connected Thursday, May 29, 2025, earlier Justice Sharon T. Ishaya of the Federal High Court sitting successful Jos, Plateau State.

The Secretary, Okewole Dayo, and Chairman, Bishop Katung Jonas, faced a 23-count complaint relating to conspiracy, obtaining money nether mendacious pretence, and wealth laundering amounting to ₦178,885,000.

EFCC Battles Prominent Bishop successful Court Over Alleged N178 Million Fraud. Photo credit: EFCC Nigeria/Facebook
Source: Facebook

Investigations by the EFCC revealed that the defendants allegedly formed the cooperative nine to deceive unsuspecting investors. The duo induced individuals to put important sums, which were subsequently laundered done aggregate slope accounts and withdrawn utilizing proxies.

The illicit proceeds were reportedly utilized to get properties successful Jos and Kaduna

Money laundering allegations successful Covenant Fadama Cooperative

One of the charges, Count 2, elaborate however the defendants knowingly transferred ₦50,000,000 from Covenant Fadama Cooperative Society’s First Bank relationship into Dadin Kowa Micro Finance Account, a transaction constituting proceeds of unlawful activity. This was an offence nether Section 15(2)(b) of the Money Laundering (Prohibition) Act, 2012.

Count 8 highlighted fraudulent activities involving ₦10,000,000 obtained from Reke Vida Ltd. The defendants falsely promised to put the funds successful Covenant Fadama Cooperative Society with a warrant of a monthly 10% return, an assurance they knew to beryllium deceptive.

This constituted an offence nether Section 1(1)(a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

Defendants pleaded not blameworthy successful court

Both defendants pleaded not blameworthy erstwhile the charges were work to them. In response, EFCC’s prosecution counsel, Ibrahim Buba, expressed readiness to proceed with the case, noting the scheduled witnesser presentations for the pursuing day.

Defence counsels cited idiosyncratic and logistical challenges successful proceeding. J.J. Achi, counsel for the 2nd defendant, mentioned a household exigency requiring his urgent attention. Meanwhile, C.I. Nwogbo, representing the archetypal defendant, highlighted delays successful receiving lawsuit documents and logistical difficulties involving his client’s location.

Justice Ishaya expressed concerns implicit proceedings delays

Justice Ishaya emphasised the inefficiencies caused by delays, peculiarly affecting prosecution witnesses travelling from Abuja. The EFCC had initially listed 18 witnesses, but immoderate had go unavailable portion 2 had passed away, prompting considerations for caller witnesser additions.

After proceeding submissions, Justice Ishaya adjourned the lawsuit to July 22 and 23, 2025, for the continuation of the trial.

Court takes enactment connected EFCC's lawsuit Vs Fayose

Legit.ng earlier reported that The national precocious tribunal successful Lagos has reserved ruling connected the no-case submission filed by Ayodele Fayose, a salient erstwhile politician of Ekiti state.

As reported connected Tuesday, May 20, by Channels Television, the tribunal took enactment successful Fayose's proceedings implicit alleged wealth laundering and theft totalling N6.9 billion.

Fayose, an unfastened protagonist of President Bola Tinubu, was archetypal arraigned connected October 22. 2018, earlier Justice Mojisola Olatoregun. The ex-governor was arraigned alongside his company, Spotless Investment Limited, connected 11 counts bordering connected fraud and wealth laundering. He had pleaded not blameworthy to the complaint and was subsequently freed.

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Source: Legit.ng