Ex-NEXIM Bank MD, Robert Orya, Jailed 490 Years For N2.4bn Fraud

The Economic and Financial Crimes Commission (EFCC) on Thursday, February 5, 2026, secured the conviction of Robert Orya, a former Managing Director of the Nigerian Export-Import Bank (NEXIM), over a N2.4 billion fraud.

Justice F. E. Messiri of the Federal Capital Territory (FCT) High Court sentenced Orya to 10 years’ imprisonment on each of the 49 counts filed against him, bringing the cumulative sentence to 490 years.

Orya, who served as NEXIM Bank’s managing director between 2011 and 2016, was prosecuted by EFCC counsel, Samuel Ugwuegbulam.

The anti-graft agency accused him of fraudulently diverting funds belonging to the bank, offences the court found proven beyond reasonable doubt.

In his judgment, Justice Messiri held that the prosecution successfully established its case against the former bank chief, finding him guilty on all 49 counts.

The conviction has been widely attributed to the renewed vigour and painstaking investigative work of the EFCC under its Chairman, Mr. Ola Olukoyede, whose leadership has reinvigorated the agency’s mandate to pursue high-profile corruption cases to logical conclusions.

Since assuming office, Olukoyede has consistently vowed to rid Nigeria of corruption, insisting that no individual, regardless of status or past influence, would be shielded from accountability.

Under his watch, the EFCC has intensified prosecution of 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 Olukoyede’s commitment to restoring public confidence in the anti-corruption fight and sending a clear message that financial impropriety 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 resolve to clamp down on economic crimes within Nigeria’s financial sector.

During his tenure at NEXIM Bank, Orya was initially credited with efforts to reposition the institution to support non-oil exports and improve its financial standing after earlier challenges.

However, his administration later became mired in controversies, including allegations of loan disbursement irregularities and procedural abuses.

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