A Federal High Court in Abuja has sentenced a former managing director of Nigerian Export-Import Bank (NEXIM), Robert Orya, to a cumulative 490 years in prison after finding him guilty of multiple financial crimes linked to large-scale abuse of public funds.
Justice F. E. Messiri delivered the judgment on Thursday, convicting Orya on 49 separate counts filed by the Economic and Financial Crimes Commission (EFCC).
The offences included criminal breach of trust, fraud, misappropriation of funds, impersonation, official corruption, and abuse of office.
The court imposed a 10-year jail term on each count, ordering that the sentences run consecutively, bringing the total sentence to 490 years.
Orya served as managing director of NEXIM Bank between 2011 and 2016. During that period, prosecutors said he exploited his position to unlawfully channel bank funds to a private company, Luxurium Leisure Services Limited, which he allegedly incorporated using fictitious identities without the consent or knowledge of the named individuals.
According to the EFCC, Orya approved and facilitated loan disbursements of more than ₦1.36 billion to the company, with the funds remaining unpaid for several years.
Investigators said the transactions formed part of a wider fraud scheme estimated at about ₦2.4 billion.
EFCC counsel, Samuel Ugwuegbulam, told the court that the defendant bypassed internal controls and violated banking procedures to authorise the facilities, using the shell company as a conduit to siphon public funds under the guise of legitimate lending.
The anti-graft agency said Orya’s actions undermined the mandate of NEXIM Bank, which was established to support non-oil exports and provide development financing to Nigerian businesses.
Orya was arraigned in November 2021 and pleaded not guilty to all charges, leading to a full trial that spanned several years.
In delivering judgment, the court held that the prosecution proved its case beyond reasonable doubt, relying on documentary evidence, witness testimony, and financial records tracing the flow of funds.
Legal analysts say the ruling represents one of the most severe sentences handed down in a financial crime case involving a senior executive of a government-owned financial institution, underscoring the judiciary’s hardening stance on corruption-related offences.
The conviction adds to a growing list of high-profile fraud cases pursued by the EFCC as authorities intensify efforts to hold former public officials and executives accountable for financial misconduct.
