Ex-NEXIM Bank MD Sentenced to 10 Years in N2.4B Fraud Case

The Abuja High Court in Nigeria has sentenced Robert Orya, the former Managing Director of the Nigerian Export-Import Bank (NEXIM), to 10 years in prison for his involvement in a N2.4 billion fraud case. Justice Francis Mefiri handed down the sentence after convicting Orya on 49 criminal charges related to fraud.

The charges included misappropriation, breach of trust, impersonation, corruption, and abuse of office during his tenure at NEXIM Bank from 2011 to 2016. The Economic and Financial Crimes Commission (EFCC) revealed that Orya fraudulently diverted funds, including a loan of N488 million, to entities like Luxurium Leisure Services Limited using fictitious names.

Despite pleading not guilty, the court found Orya guilty and sentenced him to 10 years in prison on the 49 counts.