Justice Ijeoma Ojukwu of the Federal High Court Calabar has convicted Olufunsho Dayo Chevy and Uwem Udo Nya, for oil theft.
The court also ordered the duo to pay a fine of N20 million and pay N5 million each into the account of the Federal Government.
The Economic and Financial Crimes Commission (EFCC), Uyo Zonal Command prosecuted Chevy and Nya for oil theft alongside a vessel, MT New Angel, and a company, Edi Eurolink Distribution.
EFCC spokesperson, Dele Oyewale, said in a press statement on Friday that the convicts were arrested by the Nigerian Navy Ship (NNS) Victory and handed over to the EFCC on July 30, 2024.
Oyewale said both of them pleaded guilty to the charge in court, adding that they were convicted on a one-count charge bordering on stealing and unlicensed dealing on petroleum products.