Ex-MD NEXIM Bank Oyra bags 490 years in prison over N2.4bn fraud

A Federal Capital Territory (FCT) High Court in Abuja has sentenced a former Managing Director of the Nigerian Export-Import Bank (NEXIM), Roberts Orya, to a cumulative 490 years in prison over a N2.4 billion bank fraud.

Justice F.E. Messiri delivered the judgment on Thursday, convicting Orya on all 49 counts filed against him by the Economic and Financial Crimes Commission (EFCC). The charges bordered on obtaining money by false pretences, forgery and advance fee fraud.

Orya was first arraigned in 2021 and pleaded not guilty, prompting a full trial. During the proceedings, the prosecution, led by Samuel Ugwuebulam, presented seven witnesses whose testimonies the court said established the defendant’s culpability beyond reasonable doubt.

According to court documents, Orya, while serving as NEXIM Bank’s managing director, fraudulently induced the bank to disburse hundreds of millions of naira to companies under false claims.

In one of the counts, he was accused of securing the payment of N488 million to Treasuremix Construction Limited in September 2011 under the pretence that Luxurium Leisure Services Limited had applied for and qualified for the facility. Another charge involved the alleged fraudulent disbursement of N630 million to the same company in February 2013 using similar misrepresentations.

The court held that the loan claims were false and constituted deliberate acts of fraud.

Justice Messiri subsequently sentenced Orya to 10 years imprisonment on each of the 49 counts, amounting to 490 years in total. However, the sentences are to run concurrently.

Orya served as managing director of NEXIM Bank between 2009 and 2016. He was first appointed in August 2009 by late President Umaru Musa Yar’Adua and later reappointed in 2014 by former President Goodluck Jonathan.

The EFCC said the conviction underscores its commitment to holding public officials accountable for financial crimes.