THE Federal Capital Territory (FCT) High Court, on Thursday, February 5, sentenced a former managing director of Nigerian Export-Import Bank (NEXIM), Robert Orya, to 490 years imprisonment for N2.4billion fraud.
Justice F.E. Messiri, handed Orya 10 years imprisonment on each of the 49 counts brought against him by the Economic and Financial Crimes Commission (EFCC).
The sentencesare to run concurrently, meaning that the NEXIM chief executive from 2009 to 2016 will spend only 10 years in jail.
In November 2021, EFCC arraigned Orya on a 49-count charge bordering on fraud, accusing him of abusing his position as managing director to obtain over N1.4billion from the institution.
The anti-graft agency further alleged that while serving as the managing director, Orya incorporated a company, using the names of non-existent persons and others without their consent, to obtain loans for the company, which were not repaid for many years.
Orya pleaded not guilty to the charges.
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