The Adamawa State High Court sitting in Yola has sentenced the Managing Director of Bonghe Microfinance Bank, Grace Andreas Karka, to five years imprisonment for her involvement in the unlawful transfer of ₦32 million belonging to the bank.
Delivering judgment, Justice Benjamin Lawan Manji found Karka guilty on charges bordering on criminal breach of trust and misappropriation of funds. The case was instituted and prosecuted by the Economic and Financial Crimes Commission (EFCC), following a petition that exposed irregular financial transactions under her management.
According to the EFCC, investigations established that a total of ₦32,000,000 was transferred from the bank’s account to one Prince Moses Batalu without any official approval or authorization. Efforts by the bank to recover the funds reportedly failed, prompting a full-scale probe by the anti-graft agency.
During trial, the prosecution presented evidence showing how the illegal transfer was carried out, as well as testimonies confirming Karka’s role in the diversion. The defense, however, failed to provide a satisfactory explanation or documentation to justify the transaction.
In his ruling, Justice Manji stated that the court was convinced beyond reasonable doubt that the defendant abused her position of trust and violated financial regulations guiding microfinance operations. He therefore sentenced her to five years imprisonment without an option of fine.
The EFCC, in a statement shared on its official X (formerly Twitter) handle on Thursday, October 30, 2025, reiterated its commitment to ensuring accountability in the financial sector, warning that abuse of fiduciary responsibility will not go unpunished.
The conviction adds to the growing list of successful prosecutions by the EFCC aimed at curbing financial misconduct in Nigeria’s banking and microfinance institutions.
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