Former NEXIM Bank MD Jailed 490 Years Over N2.4bn Fraud

An FCT High Court has convicted and sentenced a former Managing Director of the Nigerian Export Import Bank (NEXIM), Robert Orya, to a total of 490 years imprisonment for his involvement in a N2.4 billion fraud.

Justice F. E. Messiri delivered the judgment on Thursday, sentencing Orya to 10 years in prison on each of the 49 counts preferred against him, after finding him guilty of all the charges.

The case was prosecuted by the Economic and Financial Crimes Commission (EFCC) through its counsel, Samuel Ugwuegbulem.

Orya served as the Managing Director of NEXIM Bank between 2009 and 2016, a period during which he was publicly credited with initiatives aimed at repositioning the bank to support non-oil exports and improving its operational performance following earlier financial difficulties.

However, the EFCC alleged that during his tenure, Orya fraudulently diverted funds totaling approximately N2.4 billion, leading to his prosecution and eventual conviction.