Court jails Maina 8 years for stealing N2billion pension fund

The Federal High Court sitting t in Abuja on Monday sentenced a former chairman of the defunct Pension Reform Task Team (PRTT), Abdulrasheed Maina, to eight years’ imprisonment for stealing N2billion in pension fund.

Penpushing reports that, the convict was arraigned on 12 count charge by the Economic and Financial Crimes Commission (EFCC), alongside his company Common Input Property and Investment Limited

The judge, Justice Okon Abang, in his judgment sentenced Maina to various jail terms ranging from three to eight years, which are to run concurrently, and this include. three years for count 1, five years for count 2, eight years for count 3, eight years for count 4, two years for count 5, five years for count 6, and eight years in count seven.

Penpushing further reports that, the judge  also sentenced him to three years in jail for count 8, five years for count 9, eight years for count 10, three years for count 11 and three years for count 12, which are to run concurrently.

The judge ordered that the terms of imprisonment will begin from October 25, 2019, the date he was arraigned, and this implies that he will spend the longest sentence which is eight years in jail.

Penpushing also reports that, the judge ordered, the company, Common Input Property and Investment Limited to be wound up and its assets forfeited to the Nigerian government, and held that Maina stole over N2 billion belonging to pensioners, most of whom have died without reaping the fruits of their labour.

The judge declared that, the prosecution established that Maina purchased property in Abuja with $1.4million cash without passing through a financial institution, adding that, the amount,  was far above the cash transaction threshold of N5million.

Penpushing reports that, Justice Abang also ruled that the prosecution proved that Maina concealed his true identity as signatory to the accounts he opened in the United Bank of Africa (UBA) and Fidelity Bank by using the identity of his family members without their knowledge.

The judge condemned the roles of the banks in the opening of the fraudulent accounts pointing out that, the sums of N300million, N500million and N1.5billion were stolen by Maina from pensioners deposited in the account

Penpushing further reports that, the judge said  Maina could not explain the source of the money, adding that, as civil servant, he could not have legitimately earned the sums of money from his salary and emoluments.

The judge said, Economic and Financial Crimes Commission( EFCC) witness, who testified during the trial, pointed out that  Maina, whose salary as a civil servant was N256, 000, could not have legitimately had such money running into billions in his accounts even if he saved all his salaries for 35 years.

Penpushing also reports that, it is recalled that, the commission had arraigned Maina before the court, on October 25, 2019, and Common Input Property and Investment Limited, on 12 counts of money laundering, but he pleaded not guilty to the charges.

The convict had jumped bail twice in the course of the trial, but was later arrested in Niamey, Niger Republic, where he had fled, while his surety Senator Ali Ndume, was briefly jailed after he failed to provide him.

Penpushing reports that, following jump bail by Maina, his surety spent five days at the Kuje correctional centre before he was granted bail, and in the charge number  FHC/ABJ/CR/256/2019, the anti-graft agency alleged that Maina used fictitious names to open and operate various bank accounts, as well as recruited his relatives that were bankers to operate fake bank accounts through which illicit funds were channelled.

The convict spent most of the trial period in jail as he took him a long period to meet the bail conditions, while the bail was revoked after he fled from trial and was sent back to jail till the end of the trial after he was re-arrested in Niger Republic.

FOOTNOTE: You want to share story with us? You want to advertise with us? You need publicity for product, or service, or   event? Contact us on WhatsApp +2348073463653 or email [email protected]