Former Acting Director General, Nigerian Maritime Administration and Safety Agency(NIMASA), Calistus Obi on Monday received a seven years imprisonment from a Federal High Court, Lagos over N136 million fraud charges.
The trial judge Justice Mojisola Olatoregun however gave the convict an option of paying N7 million. Justice Olatoregun had last month convicted Mr Obi of thebfraud.
Obi was charged with N136 million fraud by the Economic and Financial Crimes Commission (EFCC).
He was appointed the acting head of NIMASA two months after President Muhammadu Buhari assumed office in 2015.
The president had earlier fired Patrick Akpobolokemi as the Chief Executive Officer of the agency.
Mr Akpobolokemi is being prosecuted separately for corruption while in office.
In the charge filed against Obi, he was alleged to have committed the offences on August 5, 2014.
According to the EFCC, he and a former staff of NIMASA allegedly conspired to convert money from NIMASA, with the knowledge that same were proceeds of stealing.
The offences contravene the provisions of Sections 15 and 18(a) of the Money Laundering Prohibitions (Amendment) Act, 2012.