Former NEXIM MD Bags 490-Year Jail Term

An FCT High Court has convicted and sentenced a former managing director of Nigerian Export-Import Bank (NEXIM), Robert Orya, to 490 years in jail over a N2.4 billion fraud.

Justice F.E. Messiri on Thursday sentenced Orya to 10 years imprisonment for on each of the 10-count charge after finding him guilty of the allegations.

The Economic and Financial Crimes Commission (EFCC) had filed the charge through its counsel, Samuel Ugwuegbulem.

Orya served as the managing director of NEXIM Bank from around 2009 to 2016, during which time he had been credited with efforts to refocus the bank on supporting non-oil exports and turning around its performance after earlier financial challenges.

The EFCC had brought the 49-count charge alleging that Orya fraudulently diverted funds amounting to about N2.4 billion.