The Court of Appeal in Abuja has upheld the conviction and 490-year prison sentence of Robert Orya, a former Managing Director of the Nigeria Export Import Bank (NEXIM), over a ₦2.4 billion fraud case. According to Naija News, Justice Muhammed Danjuma delivered the ruling affirming the earlier judgment against the ex-bank chief. The decision confirms one of the longest prison terms handed down in a Nigerian financial crime prosecution involving a former senior banking executive.

Mnikelwa Nxele, the suspended Commissioner of KZN Correctional Services, is set to appear in court facing charges of fraud and money laundering. The legal proceedings will address the allegations against him, which have raised significant concerns within the department.

Jaiz Bank faced regulatory penalties totaling N530.9 million in 2025, imposed by the Central Bank of Nigeria (CBN) and the Nigerian Exchange Group (NGX). These sanctions were due to various breaches, including violations of anti-money laundering regulations and customer due diligence requirements, as well as filing infractions.

Mnikelwa Nxele, the KwaZulu-Natal Correctional Services Commissioner, has been granted bail set at R50 000 following fraud charges against him. The decision was made on June 24, 2026.

A court has issued an arrest warrant for former NEDP official Daniel Onsomu, who is facing charges of fraud. According to reports, he allegedly obtained Sh2.05 million from Daniel Nyakundi Osiemo between September 8 and October 6, 2022. The case is being heard at the Kibera Chief Magistrate’s Court.

The Federal High Court in Abuja has sentenced two Bureau De Change operators to five years in prison each, with the option of a N2 million fine, for conducting foreign exchange business without a valid licence from the Central Bank of Nigeria. The ruling, reported on Monday, underscores the regulator's ongoing enforcement against unlicensed currency trading in Nigeria.