Ex-NEXIM MD Jailed 490 Years Over ₦2.4bn Fraud
Last update: February 5, 2026
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Court sentences ex NEXIM Bank MD to 490 years in prison over ₦2.4 billion fraud case...
A former Managing Director of the Nigerian Export-Import Bank, Robert Orya, has been sentenced to 490 years in prison by an Abuja High Court over a ₦2.4 billion multi-billion naira fraud involving the misuse of his office while heading the bank.
Justice F. E. Messiri of the Federal Capital Territory High Court handed down the sentence on Thursday, delivering judgment in a suit filed by the Economic and Financial Crimes Commission.
CBI News reports that the former bank chief was convicted on 49 counts bordering on corruption, criminal breach of trust, and abuse of office, with the court imposing 10 years’ imprisonment on each count.
The sentences are to run concurrently, meaning Orya will serve 10 years in prison.
Orya served as Managing Director of NEXIM Bank from 2009 to 2016.
He was arraigned in November 2021 by the EFCC, which accused him of leveraging his position to siphon funds through fraudulent means.
According to the EFCC, Orya incorporated a shell company while still in office, using the names of non-existent persons and individuals who were unaware of the company’s activities to secure loans totalling over ₦1.4 billion from NEXIM.
The loans reportedly remained unpaid for years, raising red flags and triggering investigations that culminated in the former banker’s arrest and trial.
The anti-graft commission alleged that the fraudulent transactions were executed without proper documentation or board approval and involved falsification of records and identity theft.
Throughout the trial, Orya maintained his innocence, but the court held that the prosecution successfully proved its case beyond reasonable doubt, leading to the conviction on all 49 counts.
