A Federal High Court in Lagos has jailed a former Acting Director-General of NIMASA, Callistus Obi, seven years for N136 million fraud.
Justice Mojisola Olatoregun, in her judgement on Monday, also gave Obi an option of N42 million fine.
She also refused to order the forfeiture of his seized assets.
Obi was found guilty of counts five, six, seven and eight of the charge brought against him by the Economic and Financial Crimes Commission (EFCC).
Obi, told a court last year that part of the money was channeled into the building of his hotel in Delta State.
Answering questions as to what became of the N136m, Obi said, “I used part of the money to build my hotel constructed by Seastroke International. But the money has since been refunded to the EFCC.
“The hotel is located somewhere in Asaba, Delta State. I can’t recollect the address now. The building is completed and is already functioning. The title documents of the hotel is being processed but I have the Certificate of Occupancy and I can produce it before the court.”
He, however, said he had since refunded the sum after being held by the EFCC.
The court had found him culpable of the fraud last week and had reserved Monday, June 3 for his sentencing.