Justice Benjamin Lawan Manji of the Adamawa State High Court has sentenced Grace Andreas Karka, Managing Director of Bonghe Micro Finance Bank, to five years imprisonment for criminal conspiracy and cheating involving N32 million.
Karka was prosecuted by the Gombe Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) on two counts.
One of the charges stated: “That you Grace Andreas Karka and Prince Moses Batalu between August 2020 and March 2021 in Yola, Adamawa State... did agree amongst yourselves to do an illegal act to wit theft in the sum of N66,792,960.00 from Bonghe Micro Finance Bank Nigeria Limited... by dishonestly moving the said sum without necessary approval,” contrary to Section 61(2) of the Adamawa State Penal Code Law 2018.
Arraigned on November 11, 2024, Karka pleaded not guilty, prompting a full trial.Prosecution counsel Mubarak Tijani presented witnesses and tendered several documents as evidence, while the defence called three witnesses.
Delivering judgment on October 17, 2025, Justice Manji held that the prosecution proved its case beyond reasonable doubt and convicted Karka on both counts.
The judge sentenced her to five years imprisonment on each count, with an option of a N3 million fine per count. The sentences are to run concurrently.
The court also ordered Karka to restitute N29,877,040 to Bonghe Micro Finance Bank.
The case began in 2021 when an audit of the bank’s account with First Bank Nigeria Ltd revealed irregularities and unauthorized transfers to an account not belonging to any customer.
Further investigation showed that Karka, as Managing Director, transferred N32 million to one Prince Moses Batalu without approval. All efforts by the bank to recover the funds failed.
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