The Economic and Financial Crimes Commission (EFCC) has secured the conviction of the Managing Director of Bonghe Microfinance Bank, Grace Andreas Karka, who was sentenced to five years imprisonment by the Adamawa State High Court sitting in Yola.
Justice Benjamin Lawan Manji handed down the judgment after finding Karka guilty of criminal conspiracy and cheating to the tune of N32 million.
She was prosecuted by the EFCC’s Gombe Zonal Directorate.
EFCC Head of Media and Publicity, Dele Oyewale, yesterday ,described the conviction as a clear message that abuse of trust and financial recklessness in the banking sector will never go unpunished.
“This case reinforces the Commission’s commitment to sanitising the financial system.
“When a bank executive betrays the trust reposed in her by shareholders and customers, she must be held fully accountable. Justice Manji’s verdict sends that message loud and clear.”
According to the EFCC, Karka and one Prince Moses Batalu conspired between August 2020 and March 2021, to divert N66,792,960 from Bonghe Microfinance Bank’s account domiciled with First Bank Nigeria Limited, without the necessary approvals.
The charge sheet stated that their actions violated Section 61(2) of the Adamawa State Penal Code Law, 2018.
“The Commission painstakingly built this case, presenting credible witnesses and documentary evidence before the court.
“Despite the defendant’s plea of not guilty, the facts were overwhelming,” Oyewale noted.
During the trial, prosecution counsel Mubarak Tijani called several witnesses and tendered documents that exposed how the funds were
, while the defence produced three witnesses in a failed bid to exonerate Karka.
Delivering judgment, Justice Manji held that the prosecution proved its case beyond reasonable doubt, consequently sentenced Karka to five years imprisonment with an option of N3 million fine on each of the two counts, to run concurrently.
The court also ordered her to restitute N29,877,040 to Bonghe Microfinance Bank, the balance of the amount fraudulently transferred.
Oyewale disclosed that the bank’s audit in 2021 exposed irregular fund transfers to a non-customer’s account, which traced back to Karka.
To him, “The audit trail pointed straight to her. She was the Managing Director, and instead of protecting depositors’ funds, she violated every principle of fiduciary responsibility.
“The EFCC will continue to pursue such cases vigorously to deter others.”
He added that the Commission would not relent in pursuing corporate and individual offenders who misuse their positions to enrich themselves.
“Financial crimes erode public confidence, so our success in this case demonstrates that the EFCC’s commitment to justice is total, unwavering, and grounded in facts,” he stressed.
