Money laundering: Court sentences Maina to 8 years in jail

By Vivian Okejeme, Abuja

A Federal High Court in Abuja, yesterday, convicted and sentenced the ex-chairman of the defunct Pension Reform Task Team (PRTT), Abdulrasheed Maina, to eight years  imprisonment, over money laundering and other forms of corruption.

In its judgement, the court agreed that Maina converted over N2billion from pensioners’ funds to his personal use, as well as guilty of money laundering to the tune of N171,099,000.

According to the court, most of the pensioners have died without reaping the fruits of their labour.

The trial judge, Justice Okon Abang, also found Maina guilty of purchasing a property in Abuja for which he paid with $1.4million cash. 

The court maintained that the action is a criminal offense as it was above the statutory threshold of N5million and without passing through a financial institution.

Further in its judgement, the former Pension Boss was found guilty of concealing his true identity as signatory to accounts opened in two new generation banks by using the identity of his family members without their knowledge.

The judge found that Maina stole the money from pensioners because he could not prove where he got N300million, N500million and 1.5billion cash, found in the accounts.

Justice Abang maintained that that through out Maina’s service as a civil servant, his salary and emoluments could not have amounted to the monies in the accounts.

Consequently, the court ordered the convict and his company, forfeited N2.1billion that was traced to their bank accounts, to the Federal Government. 

The court also in its judgement ordered that the company,(Common Input Property and Investment Limited)should be wound up.

Further in its ruling, Justice Abang ordered the forfeiture of Maina’s two choice properties at Lifecamp and Jabi districts of Abuja, to the government, as well as the auction of a bulletproof car and a BMW 5 series car that was found in his premises.