N4.7m Scam: Microfinance Bank MD sentenced to five years Imprisonment

Justice M.M. Abubakar of Bauchi State High Court, Bauchi has convicted and sentenced Sarita Aliyu Hello, Managing Director of Workman Microfinance Bank, Bauchi, to five years imprisonment on a two-count charge bordering on misappropriation and forgery brought against her by the Economic and Financial Crimes Commission, EFCC.

According to EFCC, Sarita 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.

Sarita Aliyu Hello

When confronted with evidence of her crime, she pleaded guilty to the charges brought against her and was sentenced to five years imprisonment.

Sarita 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.

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