According to the Economic and Financial Crime Commission, Justice Benjamin Lawan Manji of the Adamawa State High Court, has convicted and sentenced the Managing Director of Bonghe Micro Finance Bank, Grace Andreas Karka, to five years imprisonment for illegal transfer of money from her bank.

According to the statement obtained by TVC on Thursday, Karka was prosecuted on two-count charges 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.

The charge reads, “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 Micro Finance 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.”

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Justice Manji, on October 17, 2025, while delivering judgment, said the prosecution had proved the case beyond a reasonable doubt and went on to convict the defendant accordingly on counts one and two, sentencing her to five years imprisonment each on counts one and two, with N3 million as an option of fine.

In addition, the court ruled that the convict should restitute the balance of N29,877,040 to the petitioner.

EFCC further revealed that, “Karka’s journey to the Correctional Centre began when, sometime in 2021, the petitioner, Bonghe Micro Finance Bank, carried out an audit on the accounts of the bank domiciled with First Bank of Nigeria Ltd. The audit revealed an unbalanced account and an irregular flow of transfers to a certain account holder who was not a customer of the bank.
“Further checks later discovered that it was Karka, then managing director of the bank, who transferred the total sum of N32,000,000 to one Prince Moses Batalu without the necessary approval. The bank added that all efforts to recover the said sum proved abortive.”