The EFCC disclosed the conviction on Wednesday via its social media handles.
According to the statement, the convict who had earlier pleaded not guilty, accepted the terms of a plea bargain agreement.
Mrs Abu-Shinga was convicted on “one count amended charge of retention of proceeds of crime.”
“In his judgment on Tuesday, Justice Allagoa accepted the terms of a plea bargain agreement, convicted and sentenced the defendant to restitute the complainants in the sum of N110, 000, 000,” the statement noted.
The EFCC said the operator had lured her victims into a fake gold mining investment where she guaranteed them 300% in profits after claiming she was a representative of the company.
The report said: “She claimed that when an investor invests N500, 000, such investors could earn N1, 500,000 (One Million Five Hundred Thousand Naira Only) as returns on investment over a period of 4 weeks.
“It was also discovered that even though Shinga was able to pay some early investors with funds taken from later investors, she allegedly diverted N394,541,910 (Three Hundred and Ninety-four Million, Five Hundred and Forty-one Thousand, Nine Hundred and Ten Naira) belonging to several other investors.
“During the trial which commenced on January 23, 2020, the prosecution called five witnesses and tendered several documents in evidence.
“Before the prosecution could close its case the convict opted for a plea bargain,” the statement added.