The Anambra State High Court has sentenced the Managing Director of Orient Petroleum Resources Plc, Engineer Nnaemeka Nwawka, and the Sage Nebefeife Foundation to 14 years’ imprisonment each.
Justice O. M. Anyachebelu delivered the verdict on Friday in a case involving stealing, conversion, and gratification amounting to N25 billion.
The Economic and Financial Crimes Commission prosecuted the case following a petition by Chief Cletus Ibeto, an investor in the company.
Ibeto had alleged that Nwawka diverted his N25 billion investment through suspicious contracts awarded to companies owned by friends, with proceeds allegedly flowing back through his foundation.
The defendants were arraigned on 10 counts bordering on stealing, conversion, and gratification, to which they pleaded not guilty.
The trial lasted ten years, with the EFCC calling four witnesses and tendering documentary evidence marked as Exhibits P1 to P24.
The evidence showed how contract payments were returned to Nwawka through his foundation and withdrawn for personal use.
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Delivering judgment, Justice Anyachebelu held that the prosecution proved its case beyond a reasonable doubt.
The court also ordered the convicts to refund N140.9 million to Orient Petroleum Resources Plc.
This conviction adds to the list of recent achievements recorded by the EFCC.
In October 2025, President Bola Tinubu revealed that the Commission had recovered N500 billion and secured over 7,000 convictions under his administration.
The EFCC’s 2024 annual performance report showed the agency recovered N364.5 billion and $326.5 million, alongside other assets, while securing 4,111 convictions.
The financial fraud case represents another significant victory in the fight against corruption in Nigeria.
