The Federal Capital Territory (FCT) High Court has sentenced Robert Orya, the former managing director of the Nigerian Export-Import Bank (NEXIM), to 490 years in prison for defrauding the bank of N2.4 billion.
On Thursday, F.E. Messiri, the presiding judge, sentenced Orya to 10 years in prison for each of the 49 charges brought against him by the Economic and Financial Crimes Commission (EFCC).
However, the sentences are to run concurrently, meaning he will serve only 10 years in total.
Orya, who served as NEXIM’s managing director from 2009 to 2016, was arraigned in November 2021 on multiple charges related to fraud.
The EFCC accused him of exploiting his position to illegally obtain over N1.4 billion from the bank.
The anti-graft agency further alleged that while in office, Orya set up a company and used the identities of non-existent individuals, as well as those of others without their consent, to secure loans for the company. These loans remained unpaid for several years.
Despite his arrest and trial, Orya pleaded not guilty to the charges. However, the court’s ruling has now sealed his fate, with the sentence marking a significant development in the fight against financial corruption in the country.