The Managing Director of Workman Microfinance Bank, Bauchi, Sarita Aliyu Bello, has been sentenced to four years in jail for misappropriation of funds and forgery.
Justice M.M. Abubakar of Bauchi State High Court sentenced the convict on Wednesday.
The Economic and Financial Crimes Commission (EFCC) had arraigned the bank MD on a two-count charge bordering on misappropriation and forgery.
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According to the prosecution, the offence is contrary to Section 308 and 363 and punishable under Section 309 and 364 of the Penal Code Law.
In a Wednesday statement, the EFCC said that Bello “sometime 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.”
The commission added that when confronted with evidence of her crime, she pleaded guilty to the charges brought against her and was sentenced to five years imprisonment by the court.
“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,” the statement further read.