KEY POINTS

• An FCT High Court has sentenced former NEXIM Bank MD Roberts Orya to 10 years in prison for N2.4bn fraud.

• Orya was convicted on 49 counts involving false loan approvals and fraudulent disbursements.

• The court ruled that all sentences run concurrently after EFCC proved its case beyond reasonable doubt.

A High Court of the Federal Capital Territory (FCT), Abuja, has convicted and sentenced a former Managing Director of the Nigerian Export-Import (NEXIM) Bank, Mr. Roberts Orya, to 10 years’ imprisonment over his involvement in a N2.4 billion fraud.

The verdict was delivered on Thursday by Justice F.E. Messiri, who found Orya guilty on all 49 counts of fraud, forgery, obtaining money by false pretences and advance fee fraud brought against him by the Economic and Financial Crimes Commission (EFCC).

Although each count attracts a maximum of 10 years’ imprisonment, which would amount to 490 years if combined, the court ordered that all sentences should run concurrently. This means the convict will serve a single 10-year jail term.

How the Fraud Was Carried Out

According to the EFCC, Orya abused his position as Managing Director of NEXIM Bank to fraudulently induce the bank to release large sums of money to a construction company under false pretences.

One of the charges revealed that on September 21, 2011, Orya caused the bank to pay N488 million to Treasuremix Construction Limited, claiming that the directors of Luxurium Leisure Services Limited had applied for and were the beneficiaries of the loan, a representation the prosecution said was entirely false.

Another count stated that on February 19, 2013, he again induced NEXIM Bank to disburse N630 million to the same company under similar false claims.

The anti-graft agency said these and other transactions formed part of a broader scheme that led to the loss of about N2.4 billion.

Orya had pleaded not guilty to all the charges and was granted bail pending the conclusion of the trial, which began in 2021.

During the proceedings, EFCC counsel, Mr. Samuel Ugwuebulam, called seven witnesses and tendered documentary evidence to support the prosecution’s case.

In his judgment, Justice Messiri held that the EFCC successfully proved all the elements of the offences beyond reasonable doubt, adding that the evidence before the court clearly established Orya’s direct involvement in the fraudulent transactions.