Calistus Obi, an Ex-NIMASA DG jailed for 7 years by A Federal High Court in Lagos.
The former Acting Director-General of NIMASA was imprisoned for N136 million fraud.
The court, however, gave him an option of N42million fine.
Justice Mojisola Olatoregun had on May 23 found him guilty of money laundering and converting the agency’s funds to personal use, Daily Post reported.
The court refused to order the forfeiture of his seized assets.
EFCC spokesman, Tony Orilade affirmed that the convicts were arraigned along with two companies, Grand Pact Limited and Global Sea Investment, on April 12, 2016, on an eight-count charge bordering on conspiracy, conversion and money laundering to the tune of N136million (One Hundred and Thirty Six Million Naira).
Presiding Justice Mojisola Olatoregun, it was learnt, had found the first defendant guilty of counts five, six, seven and eight. The second defendant was also found guilty of counts two and four.