The Adamawa State Excessive Courtroom has convicted and sentenced the Managing Director of Bonghe Microfinance Bank, Grace Andreas Karka, to 5 years imprisonment over a N32 million legal conspiracy and dishonest case, following a petition filed by the bank.
Justice Benjamin Lawan Manji delivered the decision, in response to a press release launched by the Financial and Monetary Crimes Fee (EFCC) on Thursday.
Karka was prosecuted on two counts bordering on legal conspiracy and dishonest to the tune of N32,000,000 (Thirty-Two Million Naira) by the Gombe Zonal Directorate of the EFCC.
Authorized Dispute and Courtroom Proceedings
The previous bank MD was accused of violating the Adamawa State Penal Code Legislation, 2018, by her actions.
In keeping with the EFCC, in 2021, Bonghe Microfinance Bank performed an audit of its accounts domiciled with one in every of Nigeria’s main business banks.
“The audit revealed an unbalanced account and irregular transfers to a sure account holder who was not a customer 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 every one efforts by the bank to recuperate the quantity proved abortive.
One of many prices learn:
“That you simply, Grace Andreas Karka, and Prince Moses Batalu, between August 2020 and March 2021 in Yola, Adamawa State, throughout the jurisdiction of this Honourable Courtroom, 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 essential 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.
Throughout the proceedings, EFCC counsel Mubarak Tijani known as witnesses and tendered a number of paperwork to assist the case.
The defence additionally known as three witnesses to dispute the EFCC’s allegations.
What the Courtroom Mentioned
Delivering judgment on October 17, 2025, Justice Manji held that the prosecution had proved its case past affordable doubt.
- In keeping with the EFCC, the courtroom “went on to convict the defendant accordingly on counts one and two.”
- The decide sentenced Karka to 5 years imprisonment, with an possibility of N3,000,000 (Three Million Naira) superb on every depend. The sentence is to run concurrently.
- Moreover, the courtroom ordered the convict to restitute the steadiness of N29,877,040 to the petitioner, Bonghe Microfinance Bank.
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