N2.4 Billion Fraud: Ex-NEXIM Bank MD Robert Orya Jailed for 490 Years. Abuja, February 5, 2026 – Njenje Media News – In a landmark anti-corruption ruling, a Federal Capital Territory (FCT) High Court in Abuja has convicted and sentenced Robert Orya, former Managing Director of the Nigerian Export-Import Bank (NEXIM), to a staggering 490 years in prison for defrauding the bank of approximately N2.4 billion.
The Economic and Financial Crimes Commission (EFCC) announced the conviction today, stating that Justice F.E. Messiri found Orya guilty on all 49 counts of charges, including criminal breach of trust, impersonation, misappropriation, official corruption, fraud, and abuse of office. The judge imposed a 10-year imprisonment term on each count, leading to the cumulative 490-year sentence. Orya, who led NEXIM from 2011 to 2016, was prosecuted by EFCC counsel Samuel Ugwuegbulam. The case stemmed from allegations that he abused his position to facilitate fraudulent transactions, including diverting funds through a shell company, Luxurium Leisure Services Limited, using fictitious names and unauthorised beneficiaries to obtain and misappropriate loans that remained largely unpaid.
The EFCC’s official statement read: “The EFCC, today, February 5, 2026, secured the conviction of Robert Orya, a former Managing Director, Nigerian Import Export Bank, NEXIM (2011-2016), for a fraud of about N2.4 billion. Orya, who was prosecuted by EFCC’s Samuel Ugwuegbulam, was convicted by Justice F.E. Messiri of the FCT High Court, Abuja and sentenced to ten years imprisonment on each of the 49 count charges.”The trial, which began with Orya’s arraignment in November 2021 on an initial 49-count charge (originally involving over N1.3 billion, later updated to reflect the full N2.4 billion scope), highlights the EFCC’s persistence in pursuing high-profile financial misconduct cases in Nigeria’s development finance institutions.
In Nigerian judicial practice, multi-count sentences like this are often intended to reflect the severity of the offences, though consecutive terms may be adjusted or served concurrently depending on appeals, prison rules, and any future judicial reviews. Orya retains the right to appeal the verdict. The EFCC hailed the outcome as a strong signal against impunity in public office. However, public reactions on social media platforms have mixed, with celebration of the conviction and caution, as past high-profile fraud cases have seen lengthy sentences reduced or delayed through prolonged appeals.
This conviction forms part of broader efforts to sanitise Nigeria’s financial sector and recover misappropriated public funds. Details on potential asset recovery, forfeiture, or restitution were not immediately disclosed by the court or the EFCC. Njenje Media News will continue to monitor developments in this case.
