Both Ali Kwaya and Bukar Mainoka, who were serving as leaders of Islamic State's West Africa Province (ISWAP), have been killed.
According to PRNigeria, they were shot down and killed during an operation carried out by Nigerian military fighter jets at Lake Chad on Saturday.
Kwaya and Mainoka were two members of the ISWAP Shura (Consultation) Council who held great influence.
They were killed after the air bombardment missions that were carried out at Belowa by the Air Component of Operation Hadin Kai.
Belowa, an ISWAP and Boko Haram enclave in the Tumbuns, can be found in the Abadam Local Government Area of Borno State, which is situated on the western shore of Lake Chad.
The military claimed that the strikes at Belowa were necessary because intelligence suggested that certain ISWAP leaders and fighters had congregated in the area.
It was speculated that the terrorists were getting together for a conference in preparation for an assault on friendly forces.
A fighter plane from the Nigerian Air Force (NAF) was sent to the area, and it made numerous passes over the ISWAP units, during which it fired rockets and dropped bombs on them.
The effectiveness of the airstrikes was verified by a member of the intelligence community.
"Feedbak stated that ISWAP kingpin, Ali Kwaya, who was a prominent member of the ISWAP Shura Council, and Mallam Bukar Mainoka were among those neutralized," the source added. "Feedbak also revealed that Mallam Bukar Mainoka was among those neutralized."