N11.5bn fraud: Bishop, bank MD remanded in prison

A Federal High Court sitting in Jos yesterday ordered the Managing Director, Dadin Kowa Micro Finance Bank Ltd in Jos, Mr Irmiya Maman Jatau, to be remanded in prison custody.

The Economic and Financial Crimes Commission (EFCC) also filed a 24-count charge of corruption against the Bishop of Maranatha Church, Jonas Katung, in the court presided over by Justice M H
Kurya.

Both the bank MD and the Bishop including one Okewole Dayo as well as Dadin Kowa Micro-Finance Bank Limited were the four accused persons standing trial for the roles they played in defrauding over 64,000 customers of the defunct Covenant Fadama Cooperative Society of fund said to be N11.5 billion.

Some of the 24-count charge preferred against the accused by the EFCC which were read before them in court yesterday also says:

"That you Okewole Dayo, Bishop Jonas Katung, Dadin Kowa Micro Finance Bank Ltd and Maman Irmiya Jatau, sometimes in 2012 under the jurisdiction of this court did conspire with yourselves to commit money laundering contrary to Section 18a of the Money Laundering and Prohibition Act punishable under Section 15, Subsection 3 of the same Act; that you Okewole Dayo and Bishop Jonas Katung being Secretary and Chairman of Fadama Covenant Fadama Cooperative Society sometimes in 2012 within the jurisdiction of this court did transfer the sum of N50 million from covenant Fadama Cooperative Society account to First Bank account number 2003050001625 into the Dadin Kowa Micro Finance, First Bank account Number 2016452671 whose sum represents proceeds of unlawful acts and, therefore, committed offence contrary to Section 15, Subsection 25 of the money laundering and Prohibition Act 2011."

After hearing the argument from both the defence counsel and prosecution counsel, the presiding judge ruled in favour of the prosecution counsel and ordered that the bank MD be remanded in prison pending when his bail application will be filed. He adjourned the case till March 7, 2016 for further hearing.




Related News

Review News

Rating: 0.0/5 (0 Review(s) )

500
Leave a comment...