Ex-NEXIM boss Roberts Orya jailed over N2.4bn loan fraud

• Former NEXIM Managing Director Roberts Orya has been convicted on 49 counts of bank fraud.
• A court sentenced him to a cumulative 490 years in prison, to run concurrently.
• The EFCC said the offences involved fraudulent loan disbursements totaling N2.4bn.

A Federal Capital Territory High Court in Abuja has convicted and sentenced Roberts Orya, a former Managing Director of the Nigerian Export-Import Bank, over his role in a N2.4 billion loan fraud scheme that occurred during his time in office.

Justice F. E. Messiri delivered the judgment on Thursday after finding Orya guilty on all 49 counts filed against him by the Economic and Financial Crimes Commission, including obtaining money by false pretences, forgery, and advance fee fraud.

How the fraud unfolded

The EFCC told the court that Orya manipulated loan approval processes by presenting false documentation and misrepresenting loan beneficiaries, leading to the disbursement of billions of naira to companies that did not legitimately qualify for the facilities.

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One of the counts showed that in September 2011, Orya induced the bank to release N488 million to Treasuremix Construction Limited by falsely claiming that Luxurium Leisure Services Limited was the applicant and beneficiary. A similar pattern followed in February 2013, when another N630 million was disbursed to the same company under identical misrepresentations.

Court says EFCC proved case beyond doubt

Although Orya pleaded not guilty, the prosecution, led by EFCC counsel Samuel Ugwuebulam, called seven witnesses and tendered documentary evidence that the court said clearly established the offences beyond a reasonable doubt.

Justice Messiri consequently sentenced Orya to 10 years’ imprisonment on each of the 49 counts, amounting to a total of 490 years, but ordered that the sentences run concurrently.

Orya served as Managing Director of NEXIM Bank between 2009 and 2016, having been appointed by the late President Umaru Musa Yar’Adua and later reappointed by former President Goodluck Jonathan.

The conviction marks one of the most severe sentences handed down in a Nigerian financial crimes case in recent years.