Ex-Bank MD Sentenced to 10 Years for N2.4bn Fraud in Nigeria

The Federal Capital Territory High Court in Abuja has convicted and sentenced Robert Orya, a former Managing Director of the Nigerian Export-Import Bank (NEXIM), to 10 years in prison for a N2.4 billion bank fraud. Orya was found guilty on 49 counts of obtaining money under false pretenses, forgery, and advance fee fraud.

The Economic and Financial Crimes Commission (EFCC) had charged him with border fraudulently disbursing loans. Orya, who served as NEXIM Bank's MD from 2009 to 2016, was accused of inducing the bank to release substantial sums of money to companies under false pretenses.

The court found the prosecution's evidence compelling and established Orya's guilt beyond a reasonable doubt. Orya's sentence totaled 490 years, with the court ordering the terms to run concurrently.

The judgment highlighted the seriousness of breaching trust, especially given Orya's strategic role in Nigeria's economic development.