An Adamawa State High Court has sentenced the Managing Director of Bonghe Microfinance Bank, Grace Andreas Karka, to five years in prison for her role in a ₦32 million fraud.
Justice Benjamin Lawan Manji delivered the judgment in Yola, convicting Karka on two counts of criminal conspiracy and cheating brought against her by the Economic and Financial Crimes Commission (EFCC) through its Gombe Zonal Directorate.
According to the EFCC, Karka and a co-defendant, Prince Moses Batalu, conspired between August 2020 and March 2021 to divert ₦66.79 million from the bank’s account domiciled with First Bank Nigeria Limited without proper authorization — an offence contrary to Section 61(2) of the Adamawa State Penal Code Law 2018.
Karka pleaded not guilty when arraigned on November 11, 2024, prompting a full trial. Prosecution counsel Mubarak Tijani presented several witnesses and documentary evidence, while the defence called three witnesses.
In his ruling on October 17, 2025, Justice Manji held that the prosecution had proved its case beyond reasonable doubt and convicted Karka on both counts. She was sentenced to five years’ imprisonment with an option of a ₦3 million fine on each count, to run concurrently.
The court also ordered Karka to restitute ₦29.88 million — the remaining balance of the stolen funds — to Bonghe Microfinance Bank.
Karka’s conviction followed an internal audit by the bank in 2021, which uncovered irregular transfers and unbalanced accounts linked to an individual who was not a customer. Investigations later revealed that Karka, then managing director, had authorized the transfers to Batalu without approval.
Despite efforts by the bank to recover the funds, the money remained missing, prompting the EFCC’s intervention and subsequent prosecution.