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 in prison for fraud.
Karka was prosecuted by the Economic and Financial Crimes Commission (EFCC), Gombe Zonal Directorate, on two counts of criminal conspiracy and cheating involving ₦32 million.
According to the EFCC, between August 2020 and March 2021, Karka and one Prince Moses Batalu conspired to unlawfully transfer ₦66.7 million from the bank’s account with First Bank Nigeria Limited without the required authorization, contravening Section 61(2) of the Adamawa State Penal Code Law, 2018.
Karka pleaded not guilty when she was arraigned on November 11, 2024, prompting a full trial during which the prosecution presented witnesses and tendered documentary evidence.
In his judgment delivered on October 17, 2025, Justice Manji found Karka guilty on both counts and sentenced her to five years’ imprisonment, with an option of ₦3 million fine on each count.
The sentences are to run concurrently.
Additionally, the court ordered her to repay ₦29.8 million to Bonghe Microfinance Bank.
The EFCC stated that the conviction followed a 2021 audit that uncovered unauthorized fund transfers from the bank’s account to a non-customer, later traced to Karka and Batalu. Efforts to recover the diverted funds were unsuccessful.