A prosecution witness has narrated before the Federal High Court in Jos, Plateau State, how a cleric, Jonas Katung, allegedly lured him and several others into an investment scheme that cost them millions of naira.
The witness, Fasaki Jacob, 68, a retired civil servant, testified on Thursday before the trial judge, Sharon Ishaya, in the ongoing trial of Mr Katung and Okewole Dayo, who are being prosecuted by the Economic and Financial Crimes Commission (EFCC) for allegedly defrauding investors through Fadama Multi-purpose Cooperative Society.
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A statement by the EFCC’s spokesperson, Dele Oyewake, on Friday, said the defendants are facing 23 counts of obtaining money to the tune of N178.9 million (N178,885,000) under false pretence.
Led in evidence by EFCC lawyer Ibrahim Buba, Mr Jacob said he was convinced to invest in the cooperative after watching one of Mr Katung’s televised sermons on Plateau Radio and Television (PRTV).
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“The message he delivered that day made me believe that Fadama Multi-purpose Cooperative Society was real,” the witness told the court.
Mr Jacob said he later visited the cleric’s Maranata Church located at No. 10 Miyangu Street, Jos, where Mr Katung encouraged him to invest in what was presented as a faith-based cooperative.
At the cooperative’s secretariat, he met the first defendant, Mr Dayo, who instructed that all payments should be made through the cooperative’s bank account.
He said he deposited N1 million at Dadin Kowa Microfinance Bank in Jos and received an official receipt.
In June 2011, he added N200,000, bringing his total investment to N1.2 million.
According to Mr Jacob, investors were promised 10 per cent monthly returns, with payments recorded on small investment cards. But interest payments stopped in 2012.
“At one point, Bishop Katung appeared on PRTV and promised that investors would be paid the following week, but nothing came out of it,” Mr Jacob testified.
When payments stopped entirely, investors confronted the cooperative’s management and demanded refunds. Mr Jacob said tensions grew to the point that police were called in to prevent angry investors from attacking Mr Dayo.
“The police asked us to nominate some representatives to meet them at the headquarters. I was among those selected,” he said.
He told the court that when the police could not resolve the matter, it was referred to the EFCC for investigation.
The witness recalled that both defendants made statements at the EFCC and later attended a reconciliation meeting with investors, where Mr Katung promised to sell a property owned by the cooperative to refund investors.
“He gave us a copy of a land document and said we could help find a buyer. But when the property was eventually sold, we didn’t get any money,” Mr Jacob added.
A payment receipt issued to the witness was tendered and admitted in evidence as Exhibit F.
Under cross-examination by defence lawyer C.I. Nwogbo, representing Mr Dayo, the witness confirmed that he made a statement to the EFCC in 2012 and affirmed its accuracy.
He, however, clarified that Mr Dayo was not part of the television broadcast that influenced his investment decision.
Responding to questions from G.G. Achi, lawyer to Mr Katung, Mr Jacob said he had known the cleric before investing but maintained that the televised sermon influenced his decision.
Ms Ishaya discharged the witness and adjourned the case till 10 and 11 December, for continuation of trial.
Background
The EFCC had on 29 May, re-arraigned Messrs Katung and Dayo before the Federal High Court in Jos on a 23-count bordering on conspiracy and obtaining by false pretence involving N178 million.
According to the EFCC, the defendants used Fadama Multi-purpose Cooperative Society to lure hundreds of investors — many of them church members and civil servants — with promises of 10 percent monthly returns.
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Investigations revealed that the funds were allegedly diverted to personal and proxy accounts and used to acquire properties in Jos and Kaduna.
PREMIUM TIMES also reported that the cooperative leveraged church sermons and television programmes to attract unsuspecting investors who believed the scheme was faith-driven.
The case adds to a growing list of faith-linked investment scams under investigation by the anti-graft agency across Nigeria.
