The Court of Appeal sitting in Abuja has upheld the conviction and 490-year prison sentence imposed on former Managing Director of the Nigeria Export-Import Bank (NEXIM Bank), Robert Orya, over a N2.4 billion fraud case.

A three-member panel of the appellate court, presided over by Justice Muhammed Danjuma, unanimously dismissed Orya’s appeal challenging the judgment of the Federal Capital Territory High Court, Abuja.

Other members of the panel were Justices Ntong Festus Ntong and Ele Ejo Enenche.

The judgment represents another setback for the former bank chief, who had approached the appellate court seeking to overturn his conviction and sentence arising from a 49-count charge filed against him by the Economic and Financial Crimes Commission (EFCC).

According to a statement issued by the EFCC spokesman, Dele Oyewale, Justice Danjuma held that the appeal lacked merit and consequently affirmed the judgment delivered by Justice F.E. Messiri of the FCT High Court on February 5, 2026.

In his ruling, Justice Danjuma said the panel had carefully considered the arguments presented by counsel to both sides, examined the record of proceedings from the trial court and considered the issues raised in the appeal.

“I have considered all briefs filed by counsel and have gone through the record of the trial court and adopted it, and the issues as formulated by this appellate court in resolving this appeal,” the judge was quoted as saying.

He further stated that each of the issues raised by Orya in challenging his conviction had been considered by the appellate panel and resolved against him.

“I looked at each and every issue, and in my final analysis, all the issues formulated for the determination of this appeal are resolved in favour of the respondent and against the appellant,” Danjuma said.

The judge subsequently dismissed the appeal and affirmed the decision of the FCT High Court.

“This appeal is devoid of any merit and is hereby dismissed. The judgment of the High Court of the Federal Capital Territory delivered on February 5, 2026, in charge number FSC/SC/CS/487/2021 is hereby affirmed,” he ruled.

Orya was prosecuted by the EFCC following his arraignment in 2021 on a 49-count charge bordering on obtaining money by false pretences, forgery and advance fee fraud involving approximately N2.4 billion.

The anti-graft agency had accused the former NEXIM Bank managing director of offences arising from financial transactions investigated by the commission.

Following the trial, the FCT High Court found Orya guilty on all 49 counts, ruling that the prosecution had established its case beyond reasonable doubt.

Justice Messiri consequently sentenced him to 10 years’ imprisonment on each of the 49 counts, bringing the aggregate sentence to 490 years.

However, the sentences were ordered to run concurrently, meaning they are served at the same time rather than consecutively.

Dissatisfied with the verdict, Orya appealed the decision, asking the Court of Appeal to set aside his conviction and sentence.

His legal challenge centred on the findings and conclusions reached by the trial court. The appellate court, after reviewing the arguments of the parties and the record of proceedings, found no sufficient basis to interfere with the lower court’s decision.

The Court of Appeal therefore dismissed the appeal and affirmed the conviction.

The ruling reinforces the principle that convictions reached by trial courts after a full judicial process can only be overturned on appeal where an appellant successfully demonstrates that the lower court committed a material error of law or fact, or that the conviction was otherwise unsustainable.

Orya served as Managing Director of NEXIM Bank from 2009 to 2016, during which period he was responsible for the management of the federal government-owned export-import financing institution.

NEXIM Bank plays a significant role in Nigeria’s economic development by providing financial support for export-oriented businesses and facilitating access to credit for enterprises involved in international trade.

The case against Orya consequently attracted attention because of his former position at the bank and the substantial amount of money involved in the charges.

The latest judgment means that the conviction handed down by the FCT High Court remains in force, subject to any further legal options available to the former bank executive under Nigerian law.

The decision is also likely to be viewed as a significant development in the EFCC’s efforts to prosecute high-profile financial crimes involving individuals who have held senior positions in public institutions.

The commission has continued to pursue cases involving alleged fraud, money laundering, abuse of office and other financial offences, with convictions and successful appeals forming an important part of its enforcement activities.

For Orya, however, Tuesday’s ruling closes another chapter in his legal battle after the appellate court found that his grounds of appeal did not provide sufficient reason to overturn the trial court’s judgment.

The Court of Appeal’s unanimous decision leaves the February 5, 2026 judgment of the FCT High Court intact and confirms the conviction on all 49 counts for which he was prosecuted.

The case underscores the continuing legal and institutional scrutiny of financial activities involving public institutions and senior officials, while reaffirming the role of the courts in determining criminal liability through established judicial procedures.