ORIENT PETROLEUM MD NWAWKA, ASSOCIATES SENTENCED TO 14 YEARS OVER N25B FRAUD
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By: Fasasi Hammad
Justice O. M. Anyachebelu of the Anambra State High Court has sentenced Nnaemeka Nwawka, Managing Director of Orient Petroleum Resources Plc, along with Jude Anniekwe Cyril and the Sage Nebefeife Foundation, to 14 years’ imprisonment each for fraud involving approximately N25 billion.
The defendants were found guilty of stealing, misappropriation, and gratification following a decade-long trial. They faced a ten-count charge related to financial crimes. One count stated that the trio “fraudulently converted to your personal use the aggregate sum of N29,620,733.” Another count similarly accused them of diverting the same amount through transactions in Anambra State between 2012 and 2013.
The accused had pleaded not guilty when the charges were read, leading the Economic and Financial Crimes Commission (EFCC) to pursue a full prosecution. During the trial, the EFCC presented four witnesses and multiple documents, showing that contracts were allegedly awarded to companies linked to the defendants, with funds later traced to Nwawka’s foundation for personal benefit.
In his judgment, Justice Anyachebelu ruled that the prosecution had proven its case beyond reasonable doubt. He ordered Nwawka and the foundation to refund N140.9 million to Orient Petroleum Resources Plc. The court highlighted a clear pattern of diversion of company funds through dubious contracts and financial transfers.
The case originated from a petition by investor Cletus Ibeto, who claimed to have invested N25 billion in the company but suspected that large sums were siphoned off via “suspicious and bogus contracts” awarded to firms linked to the defendants.
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