Justice F. E. Messiri delivered the judgment after finding Orya guilty on 49 counts bordering on criminal breach of trust, misappropriation of funds, abuse of office, and fraud.
Orya, who served as NEXIM Bank’s Managing Director between 2011 and 2016, was accused of unlawfully diverting public funds and approving credit facilities in clear violation of banking regulations.
According to the EFCC, the fraudulent transactions involved loan disbursements to companies linked to non-existent individuals and shell firms, many of which failed to repay the facilities granted to them.
The trial, which commenced in November 2021, featured documentary exhibits and witness testimonies that established how the former bank chief abused his office for personal enrichment at the expense of the government-owned financial institution.
Justice Messiri sentenced Orya to 10 years imprisonment on each of the 49 counts, bringing the total sentence to 490 years. However, the court ruled that the sentences would run concurrently, meaning the actual jail time will be far less than the cumulative figure.
Following the judgment, Orya was immediately remanded in custody.
Reacting to the conviction, the EFCC described the ruling as a significant milestone in Nigeria’s fight against corruption, emphasizing that no public official is above the law, regardless of position or influence.
Disclaimer: Comments and opinions on any part of this website are the opinions of blog commenters or anonymous individuals, and do not reflect Strenuous Blog position.