Ex‑NEXIM Bank MD, Orya Jailed 490 Years for N2.4 Billion Fraud
Ex‑NEXIM Bank MD, Orya Jailed 490 Years for N2.4 Billion Fraud
A Federal Capital Territory (FCT) High Court in Abuja has handed down a landmark 490-year prison sentence to Robert Orya, the former Managing Director of the Nigerian Export-Import Bank (NEXIM), following his conviction for fraud involving approximately N2.4 billion.
Justice F.E. Messiri, who tried the case, ruled that Orya would serve 10 years for each of the 49 counts on which he was convicted.
The prosecution, led by the Economic and Financial Crimes Commission (EFCC) through its counsel, Samuel Ugwuegbulam, successfully proved that Orya misappropriated funds and abused his office during his tenure at NEXIM Bank from 2011 to 2016.
The charges included fraud, abuse of office, misappropriation of funds, and other financial crimes, highlighting systemic irregularities in the management of public resources under his watch.
The court emphasized that the sentence, though symbolic in its cumulative length, reflects the seriousness and multiplicity of the offences committed.
Orya, who was at the helm of NEXIM, a key federal development finance institution responsible for promoting non-oil exports, allegedly diverted large sums of public money for personal gain, undermining the bank’s core mandate.
The EFCC argued that his actions significantly impacted the institution’s operations and public confidence.
Speaking after the ruling, an EFCC spokesperson described the conviction as a major victory in Nigeria’s fight against corruption, signaling that high-ranking officials and influential executives are not immune from the law.
“This judgement is a clear message that financial crimes, regardless of the stature of the offender, will be prosecuted to the fullest extent of the law,” the spokesperson said.
The ruling also comes amid a renewed anti-corruption campaign by the EFCC, which has, in recent years, secured convictions in several high-profile cases involving billions of naira.
Legal analysts note that the Orya case represents a significant step in strengthening accountability and transparency in public institutions and financial management in Nigeria.
While the 490-year term is largely symbolic, experts say it serves as a deterrent to other public officials and corporate executives, reinforcing the judiciary’s willingness to impose strict penalties for economic crimes.
Civil society organizations and anti-corruption advocates have welcomed the judgment, describing it as a landmark in the enforcement of financial integrity in public institutions.
As Nigeria continues to tackle corruption and financial mismanagement, the EFCC and the judiciary have made it clear that no one is above the law, regardless of their position or influence.
The Orya conviction is expected to send ripples across other public and financial institutions, reinforcing the country’s commitment to accountability and ethical governance.
