Microfinance Bank MD Jailed 5 Years For N4.7m Scam In Bauchi

Justice M.M. Abubakar of Bauchi State High Court, Bauchi on
Monday 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.

The offence is contrary to Section 308 and 363 and punishable
under Section 309 and 364 of the Penal Code Law.

She was said to have some time in 2020 as the managing director
of the microfinance bank, misappropriated the sum of N4,786,700.00
(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
N3,786,700 (Three Million, Seven Hundred and Eighty-Six Thousand,
Seven Hundred Naira) to the bank through the EFCC.

Justice M.M. Abubakar of Bauchi State High Court, Bauchi on
Monday 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.

The offence is contrary to Section 308 and 363 and punishable
under Section 309 and 364 of the Penal Code Law.

She was said to have some time in 2020 as the managing director
of the microfinance bank, misappropriated the sum of N4,786,700.00
(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
N3,786,700 (Three Million, Seven Hundred and Eighty-Six Thousand,
Seven Hundred Naira) to the bank through the EFCC.