The Court of Appeal in Abuja has affirmed the conviction and 490-year prison sentence handed down to former Managing Director of the Nigeria Export-Import Bank (NEXIM Bank), Robert Orya, over a ₦2.4 billion fraud case.
Reacting to the development, lawyer and commentator E.P. Aninze Esq. described the judgment as an important victory for the Economic and Financial Crimes Commission (EFCC) in its fight against financial crimes.
In a post on X, Aninze recalled that Orya, who headed NEXIM Bank from 2009 to 2016, had been prosecuted by the EFCC over allegations that he abused his position to obtain loans from the bank.
According to the EFCC's case, Orya allegedly incorporated a company which used the names of non-existent persons and other individuals without their consent to secure loans from NEXIM Bank. The loans allegedly remained unpaid for several years.
Orya was arraigned in 2021 on a 49-count charge bordering on obtaining money by false pretences, forgery and advance fee fraud involving ₦2.4 billion. The FCT High Court, Abuja, presided over by Justice F.E. Messiri, subsequently found him guilty on all 49 counts on February 5, 2026.
Justice Messiri sentenced Orya to 10 years' imprisonment on each count, producing a cumulative sentence of 490 years. However, the sentences were ordered to run concurrently, meaning the effective term is 10 years, rather than 490 years served consecutively.
Dissatisfied with the decision, Orya appealed to the Court of Appeal, seeking to overturn his conviction and sentence.
But on Tuesday, September 8, 2026, a three-member panel led by Justice Muhammed Danjuma dismissed the appeal. Justices Ntong Festus Ntong and Ele Ejo Enenche were the other members of the panel.
Justice Danjuma said the issues raised in Orya's appeal were resolved in favour of the EFCC and against the appellant, concluding that the appeal was without merit. The panel consequently affirmed the judgment of the FCT High Court.
Aninze, in his reaction, described the outcome as evidence of the EFCC's ability to secure convictions in high-profile financial-crime cases. He also argued that the conviction should be viewed against the broader challenge of bringing individuals accused of looting public resources to justice.
Orya's case adds to the EFCC's recent record of high-profile convictions and follows several months of investigation and trial. The former NEXIM Bank chief served in the position for seven years and was appointed in 2009, before being reappointed in 2014.
The Court of Appeal's decision leaves the conviction in place, although the concurrent nature of the sentences means that the headline figure of 490 years does not represent the actual period Orya is expected to serve in prison under the judgment.
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