A 68-year-old retiree, Fasaki Olutayo Jacob, has accused Bishop Katung Jonas of luring him into a fraudulent investment scheme worth ₦1.2 million, now part of a larger ₦178 million scam under prosecution by the Economic and Financial Crimes Commission (EFCC).
Jacob gave his testimony before Justice Sharon T. Ishaya at the Federal High Court in Jos, Plateau State, revealing how he was allegedly misled by the cleric’s televised sermons on Plateau Radio and Television (PRTV).
“I watched Bishop Katung preach on TV. His message made me believe that Fadama Multi-purpose Cooperative Society was legitimate,” said Jacob.
Curious and convinced, Jacob visited Maranata Church in Jos, where he met the Bishop in person and was persuaded to invest in the faith-based cooperative.
He made an initial deposit of ₦1 million through Dadin Kowa Microfinance Bank, later adding ₦200,000, and received receipts and a record card showing his expected 10% monthly returns.
Jacob stated that interest payments stopped in 2012, after which Okewole Dayo, the first defendant in the case, called a meeting at Lamide Hotel, begging for patience and promising the funds would be repaid.
“It became clear the situation was serious when investors grew angry and police had to step in to stop a mob attack,” Jacob testified.
When the police couldn’t resolve the issue, the EFCC took over the investigation.
During a reconciliation meeting, Bishop Katung claimed the cooperative had assets and showed investors documents for a parcel of land.
He urged them to help find a buyer, promising that proceeds from the sale would be used to pay back the debts.
“Eventually, the land was sold. But no investor received a kobo,” Jacob lamented.
Jacob is the second witness to testify in court. The first, Sulaiman Kwalla, appeared in July with similar allegations.
The EFCC has charged Bishop Katung and Dayo with allegedly using religion to exploit public trust and defraud unsuspecting investors.
