A high court in the Federal Capital Territory (FCT) has handed down a combined 490‑year jail term to Robert Orya, the ex‑Managing Director of the Nigerian Export‑Import Bank (NEXIM), after finding him guilty on multiple counts of fraud involving N2.4 billion.
Gatekeepers News reports that presiding Judge F.E. Messiri on Thursday ruled that Orya should serve 10 years’ imprisonment for each of the 49 charges brought against him by the Economic and Financial Crimes Commission (EFCC), with the sentences to run concurrently. The term means he will remain behind bars for decades unless eligible for pardon or other legal relief.
Orya, who led NEXIM from 2009 to 2016, was first arraigned by the anti‑graft agency in November 2021 on a 49‑count indictment alleging abuse of office, money laundering, and criminal breach of trust.
According to EFCC, he manipulated his position to defraud the bank of more than N1.4 billion by using company structures tied to individuals who either did not exist or had no knowledge of the transactions.
Prosecutors added that the loans obtained through these schemes were never repaid, causing significant financial loss to NEXIM, which is mandated to promote non‑oil exports and support small and medium‑sized enterprises in Nigeria.
The EFCC’s case also cited allegations that Orya diverted funds through a web of companies and accounts, using fictitious names to secure loans for business ventures that did not materialise. Financial records and testimonies presented in court were used to show how transactions were processed under questionable circumstances.
Orya maintained his innocence throughout the trial and had pleaded not guilty to all charges, but the court found sufficient evidence to convict him on each count.
The judgment marks one of the most severe sentences for financial crimes in recent Nigerian history and is seen as part of broader efforts by the EFCC to hold high‑profile figures accountable for economic and financial misconduct.
Orya’s legal team has not yet indicated whether they will appeal the verdict. If an appeal is filed, the case may move to a higher court where the sentence could be reviewed.
