Microfinance Bank MD Bags Five Years for N4.7m Scam in Bauchi

Sarita Aliyu Hello, Managing Director of Workman Microfinance Bank, Bauchi, has been convicted and sentenced to four years imprisonment on a two -count charge bordering on misappropriation and forgery brought against her by the Economic and Financial Crimes Commission.

Aliyu was said to have sometime in 2020 as the Managing Director of the Microfinance Bank, misappropriated the sum of N4,786,700.00.

According to a statement by the EFCC, she had used the password of the Head, Credit Unit of the bank, 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,” it said.

She was convicted and sentenced by Justice M.M. Abubakar of Bauchi State High Court.

“The offence is contrary to Section 308 and 363 and punishable under Section 309 and 364 of the Penal Code Law,” the EFCC statement said.

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