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The Digest:

Grace Andreas Karka, the former Managing Director of Bonghe Microfinance Bank, has been sentenced to five years in prison for stealing ₦32 million from her own institution and transferring a portion to a man named Prince Moses Batalu. According to Instablog9ja, the Adamawa State High Court found her guilty of criminal conspiracy and cheating, a case that sparked widespread and mocking reactions on social media over her motives.

Key Points:
  • A former Microfinance Bank MD has been jailed for five years for stealing ₦32 million.
  • Grace Andreas Karka was convicted for transferring funds to a man, Prince Moses Batalu.
  • The fraud was uncovered during an internal audit, leading to an EFCC investigation.
  • Justice Benjamin Lawan Manji ruled that the prosecution had proved its case beyond a doubt.
  • She was given an option of a ₦3 million fine per count and ordered to refund ₦29.8 million.
  • The case was prosecuted by the EFCC under the Adamawa State Penal Code Law.
  • The story triggered humorous social media comments about "love" and the folly of her actions.
The case highlights a severe breach of fiduciary trust, while the public reaction frames the crime not just as a legal failure, but as a deeply personal misjudgment.

A Costly Affair.

Sources: Instablog9ja
Tags: EFCC, Fraud, Microfinance Bank,