Retiree Accuses Bishop Katung of ₦178 Million Investment Scam

A 68-year-old retired civil servant, Fasaki Olutayo Jacob, has told a Federal High Court sitting in Jos, Plateau State, how he was allegedly deceived by Bishop Katung Jonas into investing his life savings in a fraudulent cooperative scheme.

Bishop Katung, a popular Plateau-based cleric, and one Okewole Dayo are currently being prosecuted by the Economic and Financial Crimes Commission (EFCC) over an alleged ₦178 million investment fraud. The anti-graft agency accused the Bishop of exploiting his religious influence and televised sermons to lure unsuspecting Nigerians into investing in the so-called Fadama Multi-purpose Cooperative Society.

Testifying before Justice Sharon T. Ishaya on Thursday, Jacob recounted how he first encountered the Bishop through a televised sermon on Plateau Radio and Television (PRTV).

> “I got to know Bishop Katung through one of his sermons on Plateau TV. The message he preached made me believe that Fadama Multi-purpose Cooperative Society was genuine,” the witness said.



Jacob said he later visited Maranata Church on Miyangu Street, Jos, where he met Bishop Katung in person and was further persuaded to invest. He was directed to the cooperative’s secretariat, where the first defendant, Dayo, informed him that all payments should be made to Fadama Multi-purpose Cooperative Society.

> “I went to Dadin Kowa Microfinance Bank and paid ₦1 million. Later, in June 2011, I added ₦200,000, bringing my total investment to ₦1.2 million,” Jacob told the court.


According to him, investors were promised a 10 per cent monthly return and issued small record cards to track their earnings. However, payments stopped abruptly in 2012.

Following growing agitation among investors, Dayo reportedly called for a meeting at Lamide Hotel, Jos, where he pleaded for more time to resolve the issue. Jacob said tensions rose so high that police officers had to intervene to prevent Dayo from being attacked by angry investors.

When the police failed to resolve the matter, the case was handed over to the EFCC for further investigation. During a reconciliation meeting, Bishop Katung allegedly assured investors that the cooperative owned landed property that could be sold to refund their money.

> “He showed us a property document and asked us to help find a buyer. But even after the land was sold, we didn’t receive any payment,” Jacob testified.



Jacob is the second witness to appear against Bishop Katung. The first witness, Sulaiman Kwalla, had earlier testified in July, also detailing how the cleric allegedly used his religious platform to defraud church members and the public.

The case has been adjourned for further hearing.