Court Sentences Orient Petroleum MD, Others to 14 Years Over N25bn Fraud

By 𝔸bdulrazak Tomiwa

An Anambra State High Court has convicted Nnaemeka Nwawka, the Managing Director of Orient Petroleum Resources Plc, sentencing him to 14 years in prison. 

The conviction follows a lengthy trial that spanned a decade over a massive financial scandal.

Alongside Nwawka, Jude Anniekwe Cyril and the Sage Nebefeife Foundation were also sentenced to 14 years each. The court found them guilty of stealing, conversion, and receiving illegal gratification involving approximately ₦25 billion.

The case was initiated following a petition by prominent investor Cletus Ibeto. Ibeto had invested ₦25 billion into the petroleum company but became suspicious that significant funds were being siphoned through fraudulent and inflated contracts.

The prosecution, led by the EFCC, presented four witnesses and a series of documents to prove the crime. The evidence detailed how contracts were awarded to companies linked to Nwawka’s associates to facilitate the theft.

Justice O. M. Anyachebelu stated that the prosecution successfully proved its case beyond a reasonable doubt. He highlighted a clear pattern of diverting company funds into a foundation controlled by Nwawka for personal gain.

As part of the judgment, the court ordered Nwawka and his foundation to refund ₦140.9 million to Orient Petroleum Resources Plc. This specific sum was identified as part of the aggregate funds converted through documented illegal transactions.

The defendants were convicted on a ten-count charge related to financial crimes committed between 2012 and 2013. One specific count highlighted the fraudulent conversion of over N29.6 million within Anambra State during that period.

Despite pleading not guilty, the court maintained that the evidence of “bogus contracts” and financial transfers was overwhelming. The ruling marks a significant conclusion to one of the state’s most high-profile corporate fraud cases.