Maina bags eight years imprisonment
Abdulrasheed Maina, the former head of the now-defunct Pension Reforms Task Team, was sentenced to eight years in jail for money laundering by Justice Okon Abang of a Federal High Court in Abuja on Monday.
Justice Abang found him guilty of influencing bank employees to open bank accounts for him without undertaking due diligence and money laundering this afternoon. Justice Abang also found him guilty of exploiting the identities of his family members without their knowledge to disguise his genuine identity as a signatory to accounts opened in two banks.
Cash deposits of N300 million, N500 million, and N1.5 billion were alleged to be in these accounts.
Maina stole money designated for retirees, according to the court, because he couldn’t prove where he received it.
Maina’s salary and emoluments as a civil servant, according to Justice Abang, would not amount to the funds in these accounts.
The court also found that the prosecution (the Economic and Financial Crimes Commission) established sufficient evidence through witnesses called to establish beyond a reasonable doubt that Maina was also guilty of money laundering in the amount of N171,099,000.
The court ordered Maina and his corporation to pay around N2.1 billion to the Federal Government, which was traced to their bank accounts, and then ordered the company to be wound up.
It also ordered that Maina’s two valuable homes in Abuja’s Lifecamp and Jabi districts be forfeited to the government, as well as the sale of a bulletproof vehicle and a BMW 5 series car discovered in the convict’s possession.
Maina was accused by the Economic and Financial Crimes Commission (EFCC) in 2019, however he pleaded not guilty to a 12-count money laundering allegation totaling N2 billion.