Microfinance Bank MD Sentenced To Five years Imprisonment For N4.7m Scam In Bauchi

Sarita Aliyu Hello

A Managing Director of Workman Microfinance Bank, Sarita Aliyu Hello, has been sentenced to five years imprisonment by Justice M.M. Abubakar of Bauchi State High Court for misappropriation and forgery.

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.

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.