Former NEXIM Bank MD Gets 490 Years Jail Term for ₦2.4bn Fraud By Shalom Oludele

Former NEXIM Bank MD Gets 490 Years Jail Term for ₦2.4bn Fraud

A Federal Capital Territory High Court in Abuja has sentenced Robert Orya, former managing director of the Nigerian Export-Import Bank (NEXIM), to 490 years in prison for a ₦2.4 billion fraud.

Orya was convicted on 49 counts of fraud, with Justice F.E. Messiri handing down a 10-year sentence for each count.

The Economic and Financial Crimes Commission (EFCC) prosecuted Orya, alleging he abused his position to misappropriate funds between 2011 and 2016. The court found Orya guilty on all counts.

Orya’s tenure at NEXIM was marked by efforts to refocus the bank on supporting non-oil exports, but it became embroiled in legal and financial disputes, for which the EFCC’s waded in.

The 490-year sentence sends a strong message about accountability for financial crimes. The EFCC has been cracking down on corruption, and this conviction is a significant milestone.

Justice Messiri’s ruling highlights the severity of Orya’s offenses, involving multiple counts of fraud and abuse of office.

The case serves as a reminder to all public office holders of the importance of transparency and accountability in public institutions.