VIDEO: Microfinance Bank MD Steals N4.7m Million, Jailed Five Years In  Bauchi

Justice M.M. Abubakar of Bauchi State High Court, Bauchi on Wednesday, convicted and sentenced Sarita Aliyu Hello, Managing Director of Workman Microfinance Bank, Bauchi, to four years imprisonment on a two -count charge bordering on misappropriation and forgery brought against her by the Economic and Financial Crimes Commission, EFCC.

EFCC Spokesman, Wilson Uwujaren in a statement, said the offence is contrary to Section 308 and 363 and punishable under Section 309 and 364 of the Penal Code Law.

According to him, the convict was said to have sometime in 2020 as the Managing Director of the Microfinance Bank, misappropriated the sum of  Four Million, Seven Hundred and Eighty-six Thousand, Seven Hundred Naira. Using the password of the Head, Credit Unit of the bank, she created fictitious names, generated fraudulent loan requests, approved and paid the same to herself.

When confronted with evidence of her crime, she pleaded guilty to the charges brought against her and was sentenced to five years imprisonment.

The defendant was ordered by the court to pay the sum of Three Million, Seven Hundred and Eighty Six Thousand, Seven Hundred Naira to the bank through the EFCC.

Categories: CRIME

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