October 30, (THEWILL) — An Adamawa State High Court has sentenced the Managing Director of Bonghe Microfinance Bank, Grace Andreas Karka, to five years imprisonment for diverting N32 million belonging to the bank.
Justice Benjamin Lawan Manji delivered the judgment on October 17, 2025, convicting Karka on a two-count charge of criminal conspiracy and cheating filed by the Gombe Zonal Directorate of the Economic and Financial Crimes Commission (EFCC).
According to a statement by the EFCC on Thursday, Karka conspired with one Prince Moses Batalu to siphon funds from the bank’s account without authorisation between August 2020 and March 2021.
One of the charges read:
“That you, Grace Andreas Karka and Prince Moses Batalu, between August 2020 and March 2021 in Yola, Adamawa State, within the jurisdiction of this Honourable Court, did agree amongst yourselves to do an illegal act to wit: theft in the sum of N66,792,960.00 from Bonghe Microfinance Bank Nigeria Limited with account number 2013668857 domiciled with First 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.”
Karka was arraigned on November 11, 2024, and pleaded not guilty, leading to a full trial. EFCC counsel, Mubarak Tijani, presented witnesses and documents, while the defence called three witnesses.
In his judgment, Justice Manji held that the prosecution proved its case beyond reasonable doubt and convicted Karka on both counts.
She was sentenced to five years imprisonment with an option of N3 million fine on each count, to run concurrently.
The court further ordered her to refund N29,877,040 to Bonghe Microfinance Bank.
The case originated from a 2021 audit by the bank, which uncovered irregular transfers to an account belonging to a non-customer. Investigations revealed that Karka, then Managing Director, authorised the transfer of N32 million to Batalu without approval. Efforts to recover the money failed, prompting the EFCC petition
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