N2.4bn Loan Scam: Court Convicts Former NEXIM MD, Hands Him 490-Year Sentence
Justice F. E. Messiri of the Federal Capital Territory (FCT) High Court, Abuja, on Thursday, February 5, 2026, convicted and sentenced a former Managing Director of the Nigerian Export-Import Bank (NEXIM), Mr. Roberts Orya, to a total of 490 years imprisonment for bank fraud involving ₦2.4 billion.
Orya was arraigned in 2021 by the Economic and Financial Crimes Commission (EFCC) on a 49-count charge bordering on obtaining money by false pretences, forgery and advance fee fraud.
According to the charge sheet, Orya, while serving as Managing Director of NEXIM Bank, fraudulently induced the bank to disburse huge loan sums to Treasuremix Construction Limited under the false pretence that the facilities were requested by and granted to Luxurium Leisure Services Limited.
One of the counts revealed that on September 21, 2011, Orya caused the payment of ₦488 million as loan under false representation, an offence contrary to Section 1(1)(b) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
Another count stated that on February 19, 2013, he similarly induced the bank to release ₦630 million to the same company under fraudulent circumstances.
Orya pleaded not guilty to all the charges, leading to a full trial. During proceedings, prosecution counsel, Samuel Ugwuebulam, presented seven witnesses, whose testimonies the court held firmly established the defendant’s culpability.
In his judgment, Justice Messiri ruled that the prosecution proved its case beyond reasonable doubt, found Orya guilty on all 49 counts, and sentenced him to 10 years imprisonment on each count, amounting to 490 years.
The court, however, ordered that the sentences run concurrently.
Orya served as Managing Director of NEXIM Bank between 2009 and 2016. He was appointed on August 14, 2009, by late President Umaru Musa Yar’Adua and reappointed on August 18, 2014, by former President Goodluck Jonathan.
— Dele Oyewale
Head, Media & Publicity, EFCC
