Business

Court jails Ex- NEXIM MD Robert Orya for N2.4bn Fraud

Robert Orya was prosecuted by the Economic and Financial Crimes Commission on 49 counts, bordering on breach of trust, fraud, misappropriation, impersonation, corruption, and abuse of office.

Published

6 months ago

February 5, 2026

OCHEFA

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•Robert Orya

A High Court of the Federal Capital Territory in Abuja has convicted former Managing Director of the Nigerian Export-Import Bank (NEXIM), Robert Orya, and sentence him to ten years’ imprisonment for fraud involving about ₦2.4 billion.

Robert Orya was prosecuted by the Economic and Financial Crimes Commission on 49 counts, bordering on breach of trust, fraud, misappropriation, impersonation, corruption, and abuse of office.

Justice Frances Messiri delivered the judgment, on Thursday sentenced Orya to ten years on each count, with the terms to run concurrently.

The offences were traced to Orya’s tenure as NEXIM Managing Director between 2011 and 2016, during which he was found to have diverted bank funds through shell companies, including Luxurium Leisure Services Limited.

The court also found that he fraudulently induced the disbursement of loans, including ₦488 million to Treasure Mix Construction Limited, under false pretences.

Orya was first arraigned by the EFCC in November 2021.

Related Topics:Ex- NEXIM MD Robert Orya court Jails Featured

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Business

US subjects imports from Nigeria to 12.5% tariff

The tariff affects imports from 60 economies that Washington says have not “imposed and effectively enforced a prohibition on the importation of goods produced with forced labour.”

Published

15 minutes ago

July 24, 2026

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The United States has imposed a 12.5 per cent tariff on imports from Nigeria as part of a new trade measure targeting countries it says have failed to prohibit the importation of goods produced with forced labour.

The tariff affects imports from 60 economies that Washington says have not “imposed and effectively enforced a prohibition on the importation of goods produced with forced labour.”

The measure was announced in a statement posted on the website of the Office of the United States Trade Representative on Thursday.

Nigeria is among the countries subject to the 12.5 per cent tariff, while India, Indonesia, Malaysia, Mexico and the United Kingdom will face a lower 10 per cent rate after adopting or committing to implement bans on imports linked to forced labour.

The move follows investigations launched by the USTR in May 2026 into 60 of the United States’ largest trading partners under Section 301 of the Trade Act.

According to the agency, it received more than 1,600 written submissions, held public hearings involving over 100 witnesses, and consulted more than 45 governments before announcing the tariffs.

Business

MTN Nigeria asks customers to trade old SIM packs for prizes

MTN named eight collection centres across the country where customers can deposit their items. The locations cover Lagos, Abuja, Kano, Jos, Delta, Port Harcourt, and Ibadan.

Published

1 hour ago

July 24, 2026

OCHEFA

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MTN Nigeria has invited customers to bring in old SIM packs, recharge cards, booster cards, dongles, and MTN-branded phones in exchange for prizes.

The telecom giant is running the campaign the under the hashtag #YelloMoments.

MTN launched the campaign on Wednesday, July 23, via its official social media pages, telling followers that items kept in drawers over the years could be worth something.

Customers who participate will also be featured on what MTN described as a “Memory Wall.”

Collection centres across Nigeria

MTN named eight collection centres across the country where customers can deposit their items. The locations cover Lagos, Abuja, Kano, Jos, Delta, Port Harcourt, and Ibadan.

In Lagos, customers can visit MTN Plaza at No. 1 Awolowo Road, Falomo, Ikoyi, or the office at 43 Allen Avenue, Ikeja. In Abuja, the collection point is at No. 4, Medeira Street, Maitama.

In Kano, it is at 2, Civil Centre Road. In Jos, Plateau State, the centre is at Plot 3119, Royalfield Road.

In Asaba, Delta State, the location is KLM 129, Benin–Asaba Expressway. In Port Harcourt, Rivers State, customers can go to 234, Old Aba Expressway, Opposite Hannah Fast Food.

In Ibadan, Oyo State, the drop-off point is at MTN Regional Office 1, Olubadan Avenue and Up/Zartech Road, Oluyole Estate.