Court Sends Bonghe Microfinance Boss to Prison for Diverting ₦32m

A High Court in Adamawa State has sentenced the Managing Director of Bonghe Microfinance Bank, Grace Andreas Karka, to five years in prison for her role in a multi-million naira fraud.

Justice Benjamin Lawan Manji delivered the verdict, convicting Karka on two counts of criminal conspiracy and cheating involving ₦32 million. The case was prosecuted by the Gombe Zonal Command of the Economic and Financial Crimes Commission (EFCC).

According to the EFCC, Karka and an accomplice, Prince Moses Batalu, conspired between August 2020 and March 2021 to divert ₦66.7 million belonging to Bonghe Microfinance Bank from its First Bank account, without the necessary approvals. The offence, the anti-graft agency said, violated Section 61(2) of the Adamawa State Penal Code Law, 2018.

Karka pleaded not guilty when first arraigned on November 11, 2024, prompting a full trial. During proceedings, EFCC counsel Mubarak Tijani presented witnesses and documentary evidence, while the defence called three witnesses in Karka’s favour.

Delivering judgment on October 17, 2025, Justice Manji ruled that the prosecution had proved its case beyond reasonable doubt. He sentenced Karka to five years imprisonment, with an option of a ₦3 million fine on each count. The sentences are to run concurrently.

The court further ordered her to refund ₦29.8 million to the bank.

The case began after an internal audit at Bonghe Microfinance Bank uncovered suspicious transfers from its First Bank account to an individual who was not a customer. Investigators later traced the transactions to Karka, who allegedly moved ₦32 million to Batalu without authorisation. Efforts by the bank to recover the funds failed, leading to her arrest and eventual conviction.