Justice Benjamin Lawan Manji of the Adamawa State High Court has convicted and sentenced the Managing Director of Bonghe Microfinance Bank, Grace Andreas Karka, to five years imprisonment for stealing N32 million from her own bank.
According to a statement by the Economic and Financial Crimes Commission (EFCC) and made available to the press on Thursday, the bank MD was prosecuted by the Commission’s Gombe Zonal Directorate on a two-count charge of criminal conspiracy and cheating.
The EFCC said its investigation revealed that Karka conspired with one Prince Moses Batalu between August 2020 and March 2021 in Yola, Adamawa State, to dishonestly transfer funds from the bank’s First Bank account without authorization. “The audit revealed irregular transfers to an account belonging to a non-customer, which were later traced to the managing director,” the statement read.
ALSO READ: I’ve slept with over 500 women, had s*x with seven at once — Adult film actor
Delivering judgment on October 17, 2025, Justice Manji ruled that the prosecution proved its case beyond reasonable doubt. He sentenced the bank MD to five years imprisonment on each count, with an option of a N3 million fine, and ordered her to refund the remaining N29,877,040 to the bank.
According to the EFCC, “Karka’s journey to the Correctional Centre began after an internal audit exposed unauthorized fund transfers and attempts to conceal the theft.”