BREAKING: Former NIMASA DG handed seven-year jail term

A Federal High Court in Lagos has sentenced a former Acting Director-General of NIMASA, Calistus Obi, to seven years imprisonment for N136 million fraud.

Justice Mojisola Olatoregun had last month convicted Mr Obi of fraud. Mr Obi was charged with N136 million fraud by the Economic and Financial Crimes Commission (EFCC).

Mr Obi was appointed the acting head of NIMASA two months after President Muhammadu Buhari assumed office in 2015.

Mr Buhari 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 Mr 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.

Details later…