• About Us
  • Contact
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Editorial Charter
  • Corrections Policy
  • Sitemap
Freelanews
Advertisement
  • Home
  • News
    • Crime
  • Business
  • Brands
  • Banking
  • Opinion
  • Interview
  • Entertainment
  • Podcast
    • Àtẹ́lẹwọ́
  • Sports
  • Events
No Result
View All Result
  • Home
  • News
    • Crime
  • Business
  • Brands
  • Banking
  • Opinion
  • Interview
  • Entertainment
  • Podcast
    • Àtẹ́lẹwọ́
  • Sports
  • Events
No Result
View All Result
Freelanews
No Result
View All Result
Home News

Appeal Court confirms 490-year jail for ex-NEXIM MD Orya over ₦2.4bn fraud

Abuja appellate court dismisses the former NEXIM Bank chief’s challenge to his conviction on 49 fraud counts involving N2.4 billion.

Mariam Balogun by Mariam Balogun
September 9, 2026
in News, Crime, Crime
0 0
0
Appeal Court

Appeal Court confirms 490-year jail for ex-NEXIM MD Orya over ₦2.4bn fraud

thenacre-campaign

Abuja, September 8, 2026: Justice Muhammed Danjuma of the Court of Appeal, sitting in Abuja, on Tuesday affirmed the conviction and cumulative 490-year prison sentence imposed on Roberts U. Orya, former Managing Director and Chief Executive Officer of the Nigerian Export-Import Bank, NEXIM, over a N2.4 billion fraud case. TheCable+2

The unanimous decision was delivered by a three-member panel comprising Justice Muhammed Danjuma, who led the judgment, Justice Ntong Festus Ntong and Justice Ele Ejo Enenche.

Also read: ASUU Sokoto issues fresh strike threat over unpaid entitlements

The panel dismissed Orya’s appeal and upheld the February 5, 2026 judgment of the Federal Capital Territory High Court in Abuja.

Justice Danjuma said the panel had reviewed the briefs filed by counsel and examined the record of the trial court before resolving the issues raised in favour of the respondent and against Orya.

“This appeal is devoid of any merit and is hereby dismissed,” Justice Danjuma said, adding that the judgment delivered by Justice F.E. Messiri on February 5 was affirmed.

The ruling brings a significant setback to Orya’s attempt to overturn a conviction secured by the Economic and Financial Crimes Commission, EFCC, after a prolonged criminal trial.

Orya was first arraigned by the EFCC in November 2021 on a 49-count charge involving obtaining money by false pretences, forgery and advance fee fraud. The allegations concerned transactions and loans linked to NEXIM Bank during his tenure as its managing director.

At the trial court, Justice Messiri found Orya guilty on all 49 counts after holding that the prosecution had proved its case beyond reasonable doubt.

The judge imposed 10 years’ imprisonment on each count, producing a cumulative sentence of 490 years.

The distinction is important. The sentences were ordered to run concurrently, meaning Orya does not face 490 years of imprisonment in succession.

The concurrent terms mean the custodial sentence operates as a 10-year term rather than 490 consecutive years.

The EFCC alleged that Orya abused his position at NEXIM Bank to obtain more than N1.4 billion from the institution as part of the broader N2.4 billion case.

Prosecutors also alleged that companies were incorporated using the names of non-existent individuals or people whose identities were used without their consent to secure loans that remained unpaid for years.

One of the transactions highlighted during the prosecution involved a loan of N488 million to Treasure Mix Construction Limited, which prosecutors said was obtained through false pretences. The case also involved allegations concerning Luxurium Leisure Services Limited and other entities.

Orya pleaded not guilty to the charges and subsequently challenged the February conviction and sentence before the Court of Appeal. The appellate court has now rejected that challenge, leaving the trial court’s findings intact.

The case marks the latest stage in a legal process that has stretched across five years, from Orya’s 2021 arraignment to the February 2026 conviction and Tuesday’s appellate ruling.

Orya’s career at NEXIM had begun more than a decade before the criminal proceedings.

NEXIM’s 2014 audited financial statements identify Roberts U. Orya as managing director, while contemporary records show that he assumed the bank’s leadership in August 2009.

He was appointed on August 14, 2009, by the late President Umaru Musa Yar’Adua and was reappointed by former President Goodluck Jonathan on August 18, 2014. He remained at the helm until 2016.

During his tenure, Orya publicly promoted NEXIM’s role in supporting non-oil exports and improving Nigeria’s trade capacity.

Contemporary accounts also credited his administration with efforts to strengthen the bank’s focus on export financing and corporate governance.

That earlier institutional record now sits alongside a powerful judicial finding that the prosecution established the criminal allegations contained in the 49-count case beyond reasonable doubt.

With the Court of Appeal’s unanimous decision, the Robert Orya 490-year fraud sentence has been affirmed, although its concurrent structure means the practical prison term remains 10 years.

Also read: ASUU Sokoto issues fresh strike threat over unpaid entitlements

The judgment represents a decisive moment in one of the more prominent recent fraud prosecutions involving a former head of a Nigerian development finance institution.

Mariam Balogun
Mariam Balogun

Mariam Balogun is a contributor to Freelanews.com, covering news, business, and public affairs.

adron lemon friday
Perfect-Aesthetic-social-1
Odun Ifa 2026
ADVERTISEMENT

Also read

  • Sanwo-Olu boosts security ahead of Tinubu’s Lagos visit
  • CBN policy buffers stabilise Naira as reserves hit $55.25bn

Related Posts

Buhari 1
General

‘They were right’ Northern governor throws weight behind southern peers over Buhari’s bias

by Freelanews
May 14, 2021
SSANU NASU
General

‘Warning strike’ SSANU, NASU announce plans to begin 14 days nationwide action

by Rtn. Victor Ojelabi
October 2, 2020
107735498 65008559 1018427818350734 908048471120936960 n 1
General

‘It was a simple assault’ Senator Elisha Abbo appeals N50m judgement

by Rtn. Victor Ojelabi
October 8, 2020
eagle square scaled
General

Protest organizers confirm plans to use Eagle Square despite government resistance

by Oreoluwa Ojelabi
July 29, 2024
UBA POS
Crime

‘Unpatriotic’ Banks allegedly collaborate with POS operators to rip off Nigerians

by Freelanews
April 3, 2020

Leave a ReplyCancel reply

Tiktok Community

You're not logged into Tiktok, please login here
UBA bank ad UBA bank ad UBA bank ad

Recent News

Sanwo-Olu

Sanwo-Olu boosts security ahead of Tinubu’s Lagos visit

September 29, 2026
CBN

CBN policy buffers stabilise Naira as reserves hit $55.25bn

September 29, 2026
Lateef Adedimeji

Baba Eta challenge: Lateef Adedimeji rewards first 10 winners

September 29, 2026
Zuckerberg

Zuckerberg faces sharp loss as Meta shares fall on AI worry

September 29, 2026
  • Trending
  • Comments
  • Latest
N250k signature

Abiodun vs Amosun: N250k signature plot deepens Ogun political crisis ahead Tinubu visit

April 3, 2026
Omoge Saida

Omoge Saida sparks Nigerian social media over leaked video

October 28, 2025
james akaie scaled

Nollywood SFX makeup artist James Akaie allegedly dies after explosion on Abeokuta movie set

January 13, 2026
Political persecution in Ogun State

Political persecution in Ogun State: Abiodun moves against Otunba Gbenga Daniel with demolition threats again

August 9, 2025
amoke

‘Meals by Amoke’ We serve traditional dishes in a modern way, Bukoye Fasola reveals

19
Image 2024 03 26 at 120645 AM jpeg

Charles Inojie, Ali Nuhu call on communities to #MakeWeHalla against domestic violence

11
Meran Primary Health Centre Lagos father Meran hospital

Lagos father shares heartbreaking experience at Meran Primary Health Centre (Photos)

4
fls2

‘Disarticulated system’ Gov’t confused about Nigerian education, expert laments

3
Sanwo-Olu

Sanwo-Olu boosts security ahead of Tinubu’s Lagos visit

September 29, 2026
CBN

CBN policy buffers stabilise Naira as reserves hit $55.25bn

September 29, 2026
Lateef Adedimeji

Baba Eta challenge: Lateef Adedimeji rewards first 10 winners

September 29, 2026
Zuckerberg

Zuckerberg faces sharp loss as Meta shares fall on AI worry

September 29, 2026
ADVERTISEMENT
September 2026
SMTWTFS
 12345
6789101112
13141516171819
20212223242526
27282930 
« Aug    
Freelanews

Freelanews is a Nigerian digital news platform that delivers timely, credible, and engaging stories across politics, business, entertainment, lifestyle, and the creative industry, with a strong focus on promoting innovation, integrity, and inclusivity in storytelling.

Today’s Popular

  • images 3 5

    Lagos Govt Moves to Resolve Two-Week ASUU Strike

    0 shares
    Share 0 Tweet 0
  • New LASU VC Badejo unveils eight-point agenda

    0 shares
    Share 0 Tweet 0
  • Experts warn against boiling eggs and rice together

    0 shares
    Share 0 Tweet 0
  • Rotaractors stage Eko For Show trek, distribute fire extinguishers to Lagos shop owners

    0 shares
    Share 0 Tweet 0

Just Published!

Sanwo-Olu

Sanwo-Olu boosts security ahead of Tinubu’s Lagos visit

September 29, 2026
CBN

CBN policy buffers stabilise Naira as reserves hit $55.25bn

September 29, 2026
Lateef Adedimeji

Baba Eta challenge: Lateef Adedimeji rewards first 10 winners

September 29, 2026
Zuckerberg

Zuckerberg faces sharp loss as Meta shares fall on AI worry

September 29, 2026
Rite Foods

Rite Foods wins two honours at 2026 Marketing Edge Awards

September 29, 2026
No Result
View All Result
  • About Us
  • Contact
  • Cookie Policy
  • Editorial Charter
  • Corrections Policy
  • Advertisement

© 2026 Freelanews | by Iretura.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • News
    • Crime
  • Business
  • Brands
  • Banking
  • Opinion
  • Interview
  • Entertainment
  • Podcast
    • Àtẹ́lẹwọ́
  • Sports
  • Events

© 2026 Freelanews | by Iretura.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.