Sarita Aliyu Bello, the former Managing Director of Nigeria’s Workman Microfinance Bank, recently was sentenced to five years in prison after pleading guilty to charges from the country’s Economic and Financial Crimes Commission. In 2020, Ms Bello used a colleague’s access codes to generate and approve fraudulent loan requests resulting in disbursements to herself. In addition to serving the prison sentence, Ms Bello was ordered to repay NGN 3.78 million (USD 9,200) to the bank, which is located in the state of Bauchi.
By Arin Atluri, Research Associate
Sources and Additional Resources
Daily Post press release
https://dailypost.ng/2021/08/11/microfinance-bank-md-bags-five-years-for-n4-7m-scam/
Economic and Financial Crimes Commission homepage
https://www.efccnigeria.org/
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