EX-NEXIM Bank MD Bags 490 Years In Prison

A Federal Capital Territory (FCT) High Court in Abuja has sentenced former Managing Director of the Nigerian Export-Import Bank (NEXIM), Robert Orya, to a cumulative 490 years’ imprisonment after finding him guilty of a N2.4bn fraud.

Justice F.E. Messiri convicted Orya on all 49 counts filed against him by the Economic and Financial Crimes Commission (EFCC) and imposed 10 years’ imprisonment on each count.

The EFCC confirmed the conviction in a statement on Thursday, stating that the former NEXIM chief was prosecuted by Samuel Ugwuegbulam, who successfully proved the case beyond reasonable doubt.

Orya was initially arraigned in November 2021 on a 49-count charge bordering on criminal breach of trust, impersonation, misappropriation, official corruption, fraud and abuse of office.

The anti-graft agency accused him of abusing his position as managing director to unlawfully obtain and divert funds belonging to NEXIM Bank.

One of the charges revealed that Orya allegedly induced NEXIM Bank to release N488m as a loan to Treasure Mix Construction Limited under the false pretence that the facility was applied for and meant for Luxurium Leisure Services Limited, an act the prosecution said amounted to fraud under the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

According to the EFCC, the fraudulent transactions formed part of a broader scheme through which the former bank chief allegedly diverted funds totaling about N2.4bn during his tenure.

In delivering judgment, Justice Messiri held that the prosecution established the elements of the offences against Orya, describing the acts as a gross abuse of trust involving a public-interest financial institution.

Orya served as Managing Director of NEXIM Bank between 2011 and 2016, a period during which the bank pursued reforms aimed at boosting non-oil exports. However, his tenure later became mired in investigations and legal disputes over loan disbursement practices and alleged financial misconduct.