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MD at Microfinance bank scammed for 5 years, arrested!

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MD at Microfinance bank scammed for 5 years, arrested!

 

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

 

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She faced a two-count charge bordering on misappropriation and forgery brought by the Economic and Financial Crimes Commission (EFCC)

 

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Bello’s offences were contrary to Section 308 and 363 and punishable under Section 309 and 364 of the Penal Code Law.

 

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Sometime in 2020, according to the EFCC charge, she misappropriated the sum of N4,786,700.

 

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Bello used 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 MD pleaded guilty to the charges when the EFCC presented evidence of the crime to her.

 

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Justice Abubakar sentenced Bello to five years imprisonment and ordered the repayment of N3,786,700 to the bank through the EFCC.

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