Court Hears How Retired Civil Servant Lost Life Savings to “Faith-Based” Cooperative
A dramatic testimony unfolded on Thursday before Justice Sharon T. Ishaya of the Federal High Court, Jos, as a 68-year-old retired civil servant, Fasaki Olutayo Jacob, narrated how he was allegedly defrauded by Bishop Katung Jonas and his associate, Okewole Dayo, in a ₦178.8 million investment scam disguised as a faith-based cooperative.
Jacob, testifying as the second prosecution witness (PW2), said he was convinced to invest his life savings in Fadama Multi-purpose Cooperative Society after watching a televised sermon by Bishop Katung on Plateau Radio and Television (PRTV).
“The message he delivered that day made me believe that Fadama Multi-purpose Cooperative Society was real,” the witness told the court.
According to him, the Bishop’s charisma and religious appeal made the scheme appear genuine. He recounted visiting Maranata Church on Miyangu Street, Jos, where he met Katung in person and was introduced to the first defendant, Dayo, who managed the cooperative’s operations.
Jacob testified that he paid ₦1 million through Dadin Kowa Microfinance Bank and received a receipt, later adding another ₦200,000 in June 2011 — bringing his total investment to ₦1.2 million.
He said investors were promised a 10 percent monthly return, recorded in small investment cards, but payments stopped abruptly in 2012.
“When we demanded answers, Dayo called for a meeting at Lamide Hotel, Jos, where he pleaded for more time,” Jacob said. “Later, Bishop Katung went on television again and promised that we would be paid the following week. But nothing happened.”
As frustration grew, angry investors stormed the cooperative’s Jos office to demand refunds. Jacob said police officers were deployed to prevent the mob from attacking Dayo.
“The police asked us to nominate representatives to discuss with them. I was among those chosen,” he said. “When the police couldn’t resolve the matter, the EFCC took over the investigation.”
Jacob told the court that both defendants were invited by the Economic and Financial Crimes Commission (EFCC), where they made statements and attended a reconciliation meeting with affected investors.
At that meeting, Bishop Katung reportedly assured investors that the cooperative owned assets and even provided documents for a landed property, promising to sell it and refund their money.
“When the property was eventually sold, we didn’t get a dime,” Jacob lamented.
A receipt issued to the witness was tendered by the prosecution and admitted in evidence as Exhibit F.
During cross-examination, defence counsel C.I. Nwogbo, representing the first defendant, asked whether Dayo was part of the televised sermon that inspired the investment. Jacob confirmed that he was not, but insisted that all his statements to the EFCC in 2012 were true.
Both defendants, Dayo and Bishop Katung, are facing a 23-count charge bordering on obtaining money under false pretence to the tune of ₦178,885,000, in violation of sections of the Advance Fee Fraud and Other Fraud Related Offences Act.
The case was adjourned for continuation of trial.
Source:@OfficialEFCC
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