Justice Benjamin Lawan Manji of the Adamawa State High Court has sentenced Grace Andreas Karka, Managing Director of Bonghe Microfinance Bank, to five years’ imprisonment 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 N32 million.

According to the EFCC, between August 2020 and March 2021, Karka and one Prince Moses Batalu conspired to dishonestly transfer N66.7 million from the bank’s account at First Bank Nigeria Limited without proper approval, in violation of Section 61(2) of the Adamawa State Penal Code Law, 2018.

Karka had pleaded not guilty when arraigned on November 11, 2024, leading to a full trial during which the prosecution presented witnesses and 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 N3 million fine on each count. The sentences are to run concurrently.

The court also ordered Karka to restitute N29.8 million to Bonghe Microfinance Bank.

The EFCC stated that Karka’s conviction followed a 2021 audit that uncovered unauthorized transfers from the bank’s account to a non-customer, later traced to her and Batalu. Efforts to recover the diverted funds had reportedly failed.