NEXIM ₦2.4bln Fraud: Former MD Slapped With 490-Year Jail Term

For embezzling ₦2.4 billion, Robert Orya, former Managing Director of Nigerian Export-Import Bank (NEXIM), was on Thursday handed a 490-year prison sentence.

Justice F.E. Messiri of the Federal Capital Territory (FCT) High Court pronounced the sentence on Thursday, February 5, 2026, after finding Orya guilty of 49- count charge bordering on fraud.

Orya, who served as NEXIM’s Managing Director from 2009 to 2016, was convicted of criminal breach of trust, impersonation, misappropriation of public funds, official corruption, and abuse of office.

The Economic and Financial Crimes Commission (EFCC) had prosecuted him for using his position to obtain ₦1.4 billion from NEXIM through a company he incorporated using fake names.

“The EFCC, today, February 5, 2026, secured the conviction of Robert Orya, a former managing director of the Nigerian Export-Import Bank, NEXIM, for fraud amounting to about ₦2.4 billion,” the anti-graft agency said in a statement.

“Orya, who was prosecuted by EFCC counsel 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 EFCC investigation revealed that Orya had abused his position to obtain loans without proper collateral, causing significant financial losses to NEXIM.

The loans were given to companies linked to him and his associates, with no evidence of repayment.

Orya’s conviction marks a significant milestone in the fight against corruption in Nigeria’s financial sector.

The EFCC has vowed to continue investigating and prosecuting cases of financial misconduct.

The court ordered Orya to pay restitution to NEXIM, although details of the amount were not disclosed.