Justice Okon Abang of the Federal High Court, Abuja on Monday, November 8, 2021, jailed former Chairman of the defunct Pension Reform Task Team, Abdulrasheed Maina.
He was found guilty and sent to prison for eight years, following prosecution by the Economic and Financial Crimes Commission, EFCC.
The Commission charged Maina with operating fictitious bank accounts, corruption, and money laundering to the tune of N2 billion.
He was prosecuted alongside his firm, Common Input Property and Investment Ltd.
In the judgement, the court specifically held that the prosecutor, the Economic and Financial Crimes Commission (EFCC) had produced essential evidence through witnesses to prove beyond reasonable doubt that Maina was guilty of money laundering in the sum of N171,099,000.
Maina was also found guilty of concealing his true identity as a signatory to accounts opened in two banks – UBA and Fidelity bank – by using the identity of his family members without their knowledge.
These accounts had cash deposits of N300million, N500million, and N1.5billion.
The court held that Maina stole monies meant for pensioners as he could not prove where he got them from.
The court also found Maina guilty of the purchase of a property in Abuja, paid for in cash in the sum of $1.4million, which was above the statutory threshold of N5million, and without passing through a financial institution
The court described it as a criminal offence.
However, while Maina was leaving the court premises, there was a squabble between operatives of the EFCC and security officials from Kuje correctional center on whose custody Maina was to be remanded.
The judge did not make any expresss and specific pronouncement on where he should be remanded.
While reading his judgement, the trial judge said the correctional center would be able to take care of his health.
After the scuffle was resolved, Maina was eventually taken to Kuje correctional center.
His Counsel, Olusegun Jolaawo, told journalists that they would appeal the judgement.
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