Bank MD bags 5-year jail term for N4.7m scam

Justice M. M. Abubakar of the Bauchi State High Court, Bauchi, Monday, August 11, 2021, sentenced the Managing Director (MD), Workman Microfinance Bank, Bauchi, Sarita Aliyu Hello,  to four years imprisonment on a two -count charge bordering on misappropriation and forgery.

The Economic and Financial Crimes Commission (EFCC) had brought the charges against her in the offence contrary to Section 308 and 363 and punishable under Section 309 and 364 of the Penal Code Law.

A press statement by the EFCC Spokesperson, Wilson Uwijaren, said the convict, sometime in 2020 as the MD of the microfinance bank, misappropriated the sum of N4,786,700.00.

He said the former bank boss used the password of the Head, Credit Unit of the bank, and created fictitious names, generated fraudulent loan requests, approved and paid same to herself.

He said, “When confronted with evidence of her crime, she pleaded guilty to the charges brought against her and was sentenced to five years in prison.

“The defendant was ordered by the court to pay the sum of N3,786,700 to the bank through the EFCC.”