The Federal Capital Territory High Court in Abuja has convicted and sentenced a former Managing Director of the Nigerian Export-Import Bank (NEXIM), Mr Roberts Orya, to 10 years’ imprisonment for fraud involving ₦2.4 billion.
Justice F. E. Messiri delivered the judgment on Thursday, February 5, 2026, after finding Orya guilty of 49 counts bordering on obtaining money by false pretences, forgery and advance fee fraud.
Orya was arraigned in 2021 by the Economic and Financial Crimes Commission (EFCC) over alleged fraudulent loan disbursements carried out while he was in office.
In his ruling, Justice Messiri held that the prosecution proved its case beyond reasonable doubt, convicting the former bank chief on all counts.
The court sentenced Orya to 10 years’ imprisonment on each of the 49 counts, amounting to a total of 490 years, but ordered that the sentences run concurrently.
Orya had pleaded not guilty to all charges, leading to a full trial during which the prosecution called seven witnesses.
Prosecution counsel, Mr Samuel Ugwuebulam, told the court that the defendant abused his position as Managing Director to fraudulently induce NEXIM Bank to release huge sums of money to companies under false pretences.
One of the charges stated that Orya, while serving as Managing Director of NEXIM Bank on September 21, 2011, induced the bank to disburse ₦488 million to Treasuremix Construction Limited under the false claim that Luxurium Leisure Services Limited was the beneficiary of the loan.
Another count alleged a similar offence committed on February 19, 2013, involving the fraudulent release of ₦630 million to the same company under false representations.
The prosecution maintained that the loan transactions were fraudulent and that the supposed beneficiary companies were merely fronts used to siphon funds from the bank.
Justice Messiri agreed with the prosecution, ruling that the evidence presented clearly established the guilt of the defendant.
“The prosecution has proved its case beyond reasonable doubt,” the judge held.
The court further noted that the offences constituted serious breaches of trust, particularly given the strategic role of NEXIM Bank in supporting Nigeria’s economic development.
Orya served as Managing Director of the bank between 2009 and 2016. He was first appointed on August 14, 2009 by late President Umaru Musa Yar’Adua, and later reappointed on August 18, 2014 by former President Goodluck Jonathan.
The conviction ranks among the most significant fraud cases involving a former chief executive of a federal financial institution in recent years.
The EFCC said the judgment reaffirmed its resolve to hold public officials accountable and ensure that economic crimes are punished in accordance with the law.
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2026-02-05