Justice Benjamin Lawan Manji of the Adamawa State High Court has sentenced the Managing Director of Bonghe Microfinance Bank, Grace Andreas Karka, to five years’ imprisonment for fraud.
Karka was prosecuted by the Economic and Financial Crimes Commission (EFCC), Gombe Zonal Directorate, on a two-count charge of criminal conspiracy and cheating involving N32 million.
According to the EFCC, between August 2020 and March 2021, Karka and one Prince Moses Batalu conspired to dishonestly transfer funds totaling N66.7 million from the bank’s account with First Bank Nigeria Limited without due approval, contrary to Section 61(2) of the Adamawa State Penal Code Law, 2018.
Karka pleaded not guilty when she was arraigned on November 11, 2024. The matter proceeded to full trial, during which the prosecution presented witnesses and tendered documentary evidence.
Delivering judgment on October 17, 2025, Justice Manji found her guilty on both counts and sentenced her to five years’ imprisonment, with an option of a N3 million fine on each count. The sentences are to run concurrently.
The court further ordered Karka to pay N29.8 million in restitution to Bonghe Microfinance Bank.
According to the EFCC, the conviction stemmed from a 2021 audit which uncovered unauthorized transfers from the bank’s account to a non-customer, later traced to Karka and her co-defendant. Efforts to recover the diverted funds reportedly failed.
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