Naijaparry had reported that Obi had admitted that he used part of the N331million belonging to the agency in building a hotel.
The former NIMASA boss disclosed this last year under cross-examination at his on-going trial over the alleged offence.
The Economic and Financial Crimes Commission ( EFCC) prosecuted Obi, alongside one, Alu Dismas, a former personal assistant to the immediate past DG of NIMASA, Patrick Akpobolokemi, and two firms on an 8-count charge of converting N331 million belonging to agency for personal use.
While being cross-examined by the EFCC's lawyer, Rotimi Oyedepo, Obi, who was also a former NIMASA Executive Director, Maritime Labour and Cabotage Service, said he transferred part of the allegedly diverted money to a firm known as Seastroke International, which built a hotel for him in Asaba, Delta State.
He 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."
Justice Mojisola Olatoregun of the Federal High Court sitting in Lagos, adjourned further hearing till March 7.