In a major anti-corruption judgment, the Anambra State High Court in Awka has sentenced the Managing Director of Orient Petroleum Resources Plc, Engineer Nnaemeka Nwawka, alongside two others, to 14 years imprisonment each over a multi-billion-naira fraud case.
The ruling, delivered by Justice O. M. Anyachebelu, followed a decade-long trial in which the defendants were found guilty on a 10-count charge bordering on stealing, conversion of funds, and gratification.
According to prosecutors from the Economic and Financial Crimes Commission (EFCC), Nwawka collaborated with Jude Anniekwe Cyril and the Registered Trustees of Sage Nebefeife Foundation to divert company funds through a network of linked firms.
Evidence presented in court showed that:
- Contracts were allegedly awarded to companies tied to associates of the oil executive.
- Payments were made from company accounts to those firms.
- The funds were later routed into the foundation’s accounts and withdrawn for personal use.
Financial records tendered during the trial revealed that tens of millions of naira were transferred between 2012 and 2013 alone, forming part of a broader fraud estimated at about ₦25 billion.
Beyond the prison sentence, the court also ordered the convicts to jointly refund ₦140.9 million to the oil company.
Justice Anyachebelu ruled that the prosecution successfully proved its case beyond reasonable doubt, dismissing defence arguments regarding contract legitimacy and execution.
The case originated from a petition filed by prominent businessman Cletus Ibeto, who told investigators he invested ₦25 billion in the company but later discovered alleged diversion of funds through suspicious contracts.
With the conviction, the court has finally closed one of Anambra’s longest-running corporate fraud prosecutions, marking a significant victory in Nigeria’s ongoing fight against financial crimes.
SUNTV Global reports that the judgment is expected to send a strong warning across Nigeria’s corporate sector on accountability and financial transparency.
