Update: Maina Sentenced to 61 Years Imprisonment for Money Laundering

 

For defrauding pensioners, a former chairman of Pension Reform Task Team, Abdulrasheed Maina has been sentenced to 61 years in prison.

 

He was today convicted and sentenced by the Federal High Court, Abuja.

 

He was convicted for money laundering and stealing N2 billion belonging to pensioners.

 

Justice Okon Abang found Maina money laundering charges.

 

The court decried that Maina stole N2 billion meant for pensioners and that it is regrettable that many of the pensioners had died because of suffering.

 

Maina was convicted on count 2, 6, 9, 3, 7 and 10.

 

Abang also found Maina 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 N300 million, N500 million, and N1.5 billion.

 

The court added that Maina could not prove that the money in the accounts were not stolen

 

It stated that through Maina’s service as a civil servant, his salary and emoluments would not amount to the money in these accounts.

 

The court further held that the prosecution, the Economic and Financial Crimes Commission, produced essential evidence through witnesses called, to prove beyond reasonable doubt that Maina was also guilty of money laundering in sum of N171,099,000.