Bank MD jailed five years for N4.7m fraud

Justice M.M. Abubakar of the Bauchi State High Court on Wednesday sentenced the Managing Director of Workman Micro-Finance Bank in the state, Sarita Aliyu Bello, to five years in prison for N4.7million fraud.

The Economic and Financial Crimes Commission (EFCC) arraigned Bello on a two-count charge of misappropriation and forgery.

The commission accused the convict of defrauding the bank of N4.7million.

The EFCC said in its statement in chief that Bello had sometime in 2020 misappropriated the sum of N4,786,700 by using the password of the bank’s Head of Credit Unit, created fictitious names, generated fraudulent loan requests, approved and paid the same to herself.

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The offences, according to EFCC, contravened Section 308 and 363 and punishable under Section 309 and 364 of the Penal Code Law.

The convict pleaded guilty to the charges.

Justice Abubakar sentenced Bello to five years imprisonment and ordered her to repay N3.7million to the bank through the EFCC.

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