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Maina jailed for eight years for N2bn money laundering

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FORMER Chairman of the Pension Reform Task Team (PRTT) Abdulrasheed Maina has been jailed for eight years over N2 billion money laundering charges pressed against him by the Economic and Financial Crimes Commission (EFCC).

He was jailed by an Abuja Federal High Court presided by the trial Judge Okon Abang on Monday.

According to Abang, Maina was guilty of counts 2, 6, 9, 3, 7 and 10 of the EFCC’s charges.

He said Maina stole over N2 billion belonging to pensioners, most of whom had died without reaping the fruits of their labour.

He also found him guilty of concealing his true identity as a signatory to accounts opened in the United Bank of Africa (UBA) and Fidelity bank, where he concealed the proceeds of his theft.

The judge maintained that there was no way Maina’s years of service as a public servant could have earned him the sum of N300 million, N500 million, and N1.5 billion deposited in the said accounts.

The court also found Maina guilty of purchasing a property in Abuja, with cash, in the sum of $1.4 million, which was above the statutory threshold of N5 million and without passing through a financial institution.

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Maina’s sentence is coming weeks after the same judge sentenced Faisal, his son, to seven years imprisonment in absentia.

He was also found guilty of money laundering.

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