Covenant Fadama Multipurpose Cooperative Society of Nigeria is an investment organization in Nigeria based in Jos Plateau State. It was founded by Bishop Jonas Katung of Maranatha Covenant Churches in 2006. The main objective of the cooperative society was to inculcate the culture of saving into members as well as to create wealth through the various business ventures the cooperative society was engaged in.

Due to its laudable successes, lots of people joined fadama cooperative society of Nigeria, at least as a means of generating extra income. To be candid with you, the cooperative lived up to its bidding and was paying monthly dividend of 10% of member's contribution. The idea was that members will be paid 10% of their savings on a monthly basis.

Several people had their lives transformed through the activities of the financial society. As a matter of fact, many people benefited immensely as a result the monthly dividend they received. It became a source of relief for many Nigerians especially when you consider the economic realities on ground.

Because covenant fadama multipurpose cooperative society was so successful, people from all works of life, young and old, employed and unemployed, retired, students etc invested every penny they could gather just to enjoy the monthly dividend. In fact, there were farmers and other rural dwellers alike who sold all they had, pensioners who invested all their benefits, business men and women who took huge loans from the bank in order to partake of the dividend too.

While the going was smooth and everyone was enjoying the monthly dividend for five (5) years, suddenly, something very dramatic happened. Nobody could explain what really went wrong, but what we could say is that covenant fadama multipurpose cooperative society just stopped paying its members.

Since February 2012 till the time of publishing this article, they have not paid any dividend. Unfortunately, nobody from the management members of the cooperative society, not even the founding fathers have come out to explain the situation of things.

More devastating is the fact that the management of covenant fadama has disregarded its members who had all their hard earn savings invested with them. To me, this is the height of irresponsibility by
the management of the organization. Several attempts have been made by members to reach them, but all proofed abortive. As I write this article, there is no credible means of communicating with them.

Many people have died and many more are languishing in lack and abject poverty, I hope the management of covenant fadama will do something drastic to remedy the situation. At least, let the people know where their money is.

This is a call to all well meaning Nigerians to Speak out against Injustice and Stealing of Public Funds!

The best way to financial Freedom in my opinion is to start a business you are in control of. Never ever give anyone your hard earned money to manage for you!!!!!!

Fadama really bleeped up,i am a member in zaria.They just closed down their office in zaria without any notice.The worst part of it,they can't explain what went wrong n no sign that member will get back their money.I ve even written it off as 1 of those bad investment n carry on,if they pay fine,if they didnt pay fine life goes on,at least a lesson has been learnt.

It simply tells you one thing: Never ever trust anyone with your money!!!! Instead, start a business that you are in control of, no matter how little you are making at the moment, just believe that with time and more effort, you will succeed in the future!

I strongly believe Covenant Fadama will be forced by the Almighty to pay back its investors... Whether Jonas Katung likes it or not, he must vomit peoples money.

I wonder how a so called man of God would decent so low as to stealing people's money... what then do we say to politician? What does thins kind of a pastor tell his congregation?

Fellow men of God, please wade into the matter... the entire Christendom is affected.. is this what the bible really teaches?

Hmn. I will advise Bishop Katung to speak up. His personality is at stake.

I have a friend that we served together in jos that lost his 150k to this project and yet they've been silent, I keep wondering why EFCC/ICPC are yet to look into it.

Many years later, nothing has been heard from Covenant Fadama and its management.... Anybody with useful information should pass it here please....