A former Managing Director of the Nigerian Export-Import Bank (NEXIM Bank) has been sentenced to 10 years’ imprisonment over a ₦2.4 billion fraud conviction, bringing a high-profile financial crime case to a decisive close.
The judgment was delivered by a Federal High Court after the court found the ex-bank chief guilty of multiple counts bordering on financial mismanagement, abuse of office, and fraudulent diversion of public funds. The prosecution established that the offences were committed during the defendant’s tenure at the government-owned financial institution.
The case was prosecuted by the Economic and Financial Crimes Commission (EFCC), which maintained that the conviction reflects the judiciary’s resolve to hold public office holders accountable, regardless of status or influence.
The court ruled that the sentence would serve as a deterrent to others entrusted with public resources, stressing that financial institutions funded by taxpayers must be managed with integrity and transparency.
The conviction has reignited public discourse on corruption within government-linked institutions, with many Nigerians calling for stricter oversight, stronger internal controls, and swift prosecution of economic crimes.
