Court sentences ex-Pension boss, Maina to 8 years in prison for money laundering

Written by on November 8, 2021

Justice Okon Abang of the Federal High Court in Abuja, has sentenced the former Chairman of the now-defunct Pension Reformed Task Team, Abdulrasheed Maina, to 8 years imprisonment for money laundering and others.

This follows a guilty judgement by the court earlier in the day for offences that include money laundering, inducing bank staff to open bank account without conducting requisite due diligence, concealing his true identity as a signatory to accounts opened in 2 banks among others.

Justice Okon Abang found Maina guilty of stealing monies meant for pensioners amongst other charges.

Justice Abang, while delivering his judgement, sentenced Maina to various prison terms on 11 counts of offence which are expected to run concurrently with a maximum of 8 years.

Abang in his ruling said, ”Having considered how the pensioners’ funds were stolen, the convict is inhuman, heartless and has no compassion for the pensioners. Some have suffered, died in the process while waiting for their reward on earth.

In the judgement, Maina was sentenced as follows; Count 2: 5 years in prison, Count 3: 8 years in prison, Count 4:8 years in prison, Count 5: 2 years in prison, Count 6: 5 years in prison, 7: 8 years in prison and should refund N314 million to the federal government, Count 8: 3 years in prison, Count 9: 5 years imprisonment.

Others are; Count 10: 8 years in prison, and refund of N1. 872 billion, Count 11: sentenced to 3 years in prison and property in life camp forfeited and Count 12: 3 years imprisonment.

Maina in his allocutus said, “I want to apologize for anything I might have done with or without my intentions or those related to me. I also want to inform my lord that the issue of my sickness is 3 different tumors that needs to be operated upon urgently.’’


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