A Federal High Court in Abuja, on Thursday, convicted and sentenced a former Managing Director of the Nigerian Export-Import Bank (NEXIM), Mr Robert Orya, to 490 years imprisonment.
He was arraigned by the Economic and Financial Crimes Commission (EFCC) in November 2021, and found guilty over a fraud act involving approximately N2.4 billion.
The EFCC secured the conviction after prosecuting Orya on 49 counts, which also included criminal breach of trust, misappropriation, impersonation, official corruption, and abuse of office.
Justice Frances Messiri convicted the former NEXIM bank’s Managing Director and sentences him to 10 years on each of the 49 counts charge preferred against him by the EFCC.
The jail terms will run concurrently for 10 years after which, Orya will regain his freedom.
Orya was alleged to have used his position to fraudulently divert funds, including through entities like Luxurium Leisure Services Limited (incorporated using fictitious names) and inducing loans such as N488 million to Treasure Mix Construction Limited under false pretenses.