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NEWS UPDATE: Microfinance Bank MD bags five years for N4.7m scam

NEWS UPDATE: Microfinance Bank MD bags five years for N4.7m scam

Justice M. M. Abubakar of Bauchi State High Court has indicted and condemned Sarita Aliyu Bello, Managing Director of Workman Microfinance Bank, Bauchi.

She confronted a two-check charge verging on misappropriation and imitation brought by the Economic and Financial Crimes Commission (EFCC)

Bello’s offenses were in opposition to Section 308 and 363 and culpable under Section 309 and 364 of the Penal Code Law.

Sometime in 2020, as per the EFCC charge, she abused the amount of N4,786,700.

Bello utilized the secret word of the bank’s Head of Credit Unit, made invented names, produced fake advance demands, endorsed and paid something similar to herself.

The MD conceded to the charges when the EFCC introduced proof of the wrongdoing to her.

Justice Abubakar condemned Bello to five years detainment and requested the reimbursement of N3,786,700 to the bank through the EFCC.





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