The Adamawa State High Court has convicted and sentenced the Managing Director of Bonghe Microfinance Bank, Grace Andreas Karka, to five years imprisonment over a N32 million criminal conspiracy and cheating case, following a petition filed by the bank.
Justice Benjamin Lawan Manji delivered the verdict, according to a statement released by the Economic and Financial Crimes Commission (EFCC) on Thursday.
Karka was prosecuted on two counts bordering on criminal conspiracy and cheating to the tune of N32,000,000 (Thirty-Two Million Naira) by the Gombe Zonal Directorate of the EFCC.
Legal Dispute and Court Proceedings
The former bank MD was accused of violating the Adamawa State Penal Code Law, 2018, through her actions.
According to the EFCC, in 2021, Bonghe Microfinance Bank conducted an audit of its accounts domiciled with one of Nigeria’s leading commercial banks.
“The audit revealed an unbalanced account and irregular transfers to a certain account holder who was not a customer of the bank,” the EFCC statement partly reads.
Further investigation reportedly discovered that Karka, who was then the managing director of the bank, transferred the total sum of N32,000,000 to one Prince Moses Batalu, allegedly without the necessary approval.
The EFCC added that all efforts by the bank to recover the amount proved abortive.
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 commit 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 to the two-count charge, paving the way for trial.
During the proceedings, EFCC counsel Mubarak Tijani called witnesses and tendered several documents to support the case.
The defence also called three witnesses to dispute the EFCC’s allegations.
What the Court Said
Delivering judgment on October 17, 2025, Justice Manji held that the prosecution had proved its case beyond reasonable doubt.
- According to the EFCC, the court “went on to convict the defendant accordingly on counts one and two.”
- The judge sentenced Karka to five years imprisonment, with an option of N3,000,000 (Three Million Naira) fine on each count. The sentence is to run concurrently.
- Additionally, the court ordered the convict to restitute the balance of N29,877,040 to the petitioner, Bonghe Microfinance Bank.
