A federal high court in Abuja on Thursday, February 5th, sentenced the former managing director of the Nigerian Export-Import (NEXIM) Bank, Robert Orya, to 490 years imprisonment over ₦2.4 billion fraud.
Justice F.E. Messiri delivered the judgment after finding Orya guilty on 49 counts of financial
misconduct brought against him by the Economic and Financial Crimes Commission (EFCC).The charges bordered on criminal breach of trust, impersonation, misappropriation, official corruption, fraud, and abuse of office.
The court sentenced Orya to 10 years imprisonment on each of the 49 counts, with the sentences to run consecutively, resulting in a total jail term of 490 years.
Orya served as managing director of NEXIM Bank between 2011 and 2016.
According to EFCC‘s counsel, Samuel Ugwuegbulam, Orya abused his position as managing director by fraudulently obtaining funds from NEXIM Bank through a company, Luxurium Leisure Services Limited, which he incorporated using fictitious names and identities without consent.
Investigations revealed that Orya approved and disbursed loans amounting to over ₦1.36 billion to the company, which remained unpaid for several years after the transactions.
The commission said the scheme formed part of a broader fraud estimated at about ₦2.4 billion.
Orya was arraigned by the anti-graft agency on November 25, 2021, and stood trial following his plea of not guilty to the charges.
https://www.google.com/amp/s/www.vanguardngr.com/2026/02/n2-4bn-fraud-ex-nexim-md-orya-jailed-490-years/amp/
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