Awka, Nigeria – 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 for stealing N25 billion, conversion, and gratification.
Okay News reports that Justice O. M. Anyachebelu convicted the duo on Friday, according to a statement issued by the Economic and Financial Crimes Commission. The prosecution followed a petition by Chief Cletus Ibeto, an investor in the company, who alleged that Nwawka siphoned his N25 billion investment through suspicious contracts awarded to friends’ companies, with funds flowing back through his foundation.
The defendants were charged with 10 counts bordering on stealing, conversion, and gratification. Upon arraignment, they pleaded not guilty, prompting a full trial that lasted ten years. The EFCC called four witnesses and tendered documentary evidence marked as Exhibits P1 to P24, showing how contract payments were returned to Nwawka through his foundation and withdrawn for personal use.
Delivering the verdict, Justice Anyachebelu held that the prosecution proved its case beyond a reasonable doubt and sentenced Nwawka and his foundation to 14 years’ imprisonment. The court also ordered the convicts to refund N140.9 million to Orient Petroleum Resources Plc.
This conviction adds to the list of EFCC’s recent achievements. 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.
This financial fraud case represents another significant victory in the fight against corruption. Sustained prosecution of financial fraud cases remains central to the government’s anti-corruption agenda.
