The Adamawa State Excessive Court docket has convicted and sentenced the Managing Director of Bonghe Microfinance {Bank}, Grace Andreas Karka, to 5 years imprisonment over a N32 million felony conspiracy and dishonest case, following a petition filed by the {bank}.
Justice Benjamin Lawan Manji delivered the decision, in accordance with a press release launched by the {Economic} and {Financial} Crimes Fee (EFCC) on Thursday.
Karka was prosecuted on two counts bordering on felony conspiracy and dishonest to the tune of N32,000,000 (Thirty-Two Million Naira) by the Gombe Zonal Directorate of the EFCC.
The previous {bank} MD was accused of violating the Adamawa State Penal Code Legislation, 2018, by her actions.
Based on the EFCC, in 2021, Bonghe Microfinance {Bank} performed an audit of its accounts domiciled with considered one of Nigeria’s main industrial banks.
“The audit revealed an unbalanced account and irregular transfers to a sure account holder who was not a buyer of the {bank},” the EFCC assertion partly reads.
Additional investigation reportedly found that Karka, who was then the managing director of the {bank}, transferred the entire sum of N32,000,000 to at least one Prince Moses Batalu, allegedly with out the required approval.
The EFCC added that each one efforts by the {bank} to get well the quantity proved abortive.
One of many expenses learn:
“That you just, Grace Andreas Karka, and Prince Moses Batalu, between August 2020 and March 2021 in Yola, Adamawa State, inside the jurisdiction of this Honourable Court docket, did agree amongst yourselves to commit an unlawful act, to wit: theft within the sum of N66,792,960.00 from Bonghe Microfinance {Bank} Nigeria Restricted with account quantity 2013668857 domiciled with First {Bank} Nigeria Restricted, by dishonestly transferring the mentioned sum with out needed approval, opposite to Part 61(2) of the Adamawa State Penal Code Legislation, 2018.”
Karka was arraigned on November 11, 2024, and pleaded not responsible to the two-count cost, paving the best way for trial.
In the course of the proceedings, EFCC counsel Mubarak Tijani known as witnesses and tendered a number of paperwork to help the case.
The defence additionally known as three witnesses to dispute the EFCC’s allegations.
Delivering judgment on October 17, 2025, Justice Manji held that the prosecution had proved its case past cheap doubt.
