Ex-NEXIM MD Robert Orya Jailed 490 Years Over N2.4bn Fraud

Ex-NEXIM MD Robert Orya has been jailed for 490 years over N2.4bn fraud.

NewsOnline Nigeria reports that a former Managing Director of the Nigerian Export-Import Bank (NEXIM), Robert Orya, has been sentenced to a cumulative 490 years’ imprisonment over a N2.4 billion fraud.

The Economic and Financial Crimes Commission (EFCC) secured Orya’s conviction on Thursday, February 5, 2026, before the Federal Capital Territory (FCT) High Court in Abuja.

Justice F. E. Messiri sentenced the former bank chief to 10 years’ imprisonment on each of the 49 counts preferred against him, bringing the total jail term to 490 years.

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Orya, who served as NEXIM Bank’s Managing Director between 2011 and 2016, was prosecuted by EFCC counsel, Samuel Ugwuegbulam. He was accused of fraudulently diverting funds belonging to the bank, allegations the court held were proven beyond reasonable doubt.

In his judgment, Justice Messiri ruled that the prosecution successfully established its case against the defendant, finding him guilty on all 49 counts of fraud.

The conviction has been linked to the renewed momentum of the EFCC under its Chairman, Ola Olukoyede, whose leadership has intensified the prosecution of high-profile corruption cases. Since assuming office, Olukoyede has repeatedly vowed that no individual, regardless of status or influence, would be shielded from accountability.

Under his watch, the anti-graft agency has stepped up efforts to prosecute complex financial crimes, particularly those involving public institutions and large-scale diversion of funds.

Observers say the conviction of a former chief executive of a government-owned bank underscores the EFCC’s resolve to restore public confidence in Nigeria’s anti-corruption campaign and send a strong signal that financial misconduct will attract severe consequences.

The judgment is regarded as one of the most significant secured against a former banking chief in recent years, reinforcing the EFCC’s determination to clamp down on economic crimes within Nigeria’s financial sector.

During his tenure at NEXIM Bank, Orya was initially credited with attempts to reposition the institution to support non-oil exports and strengthen its financial standing. However, his administration later became embroiled in controversies, including allegations of loan disbursement irregularities and procedural abuses.

The case, which culminated in Thursday’s judgment at the Abuja High Court, centred on allegations that Orya diverted public funds amounting to about N2.4 billion, leading to his conviction and lengthy prison sentence.