Ex-Pension boss, Mr Abdulrasheed Maina bags 8 years in prison for money laundering KossyDerrickBlog KossyDerrickEnt

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Monday, November 8, 2021

Ex-Pension boss, Mr Abdulrasheed Maina bags 8 years in prison for money laundering

The Federal High Court sitting in Abuja, on Monday, convicted and sentenced the former Chairman of the defunct Pension Reform Task Team, PRTT, Mr Abdulrasheed Maina, to eight years in prison for money laundering. (Read More Here).

The court, in a judgement that was delivered by Justice Okon Abang, found Maina guilty on all the 12-count charge the Economic and Financial Crimes Commission, EFCC, preferred against him and his company, Common Input Property and Investment Limited.

Justice Abang held that the anti-graft agency successfully established the essential ingredients of the offences contained in the charge, beyond a reasonable doubt.

He held that the sentence would run concurrently, with effect from October 25, 2019. The court ordered Maina and his firm to restitute about N2.1billion that was traced to their bank accounts, to the Federal Government, after which it ordered that the company should be wound up.

Besides, it ordered the forfeiture of Maina’s two choice properties at Life camp and Jabi districts of Abuja, to the government, as well as the auction of a bulletproof car and a BMW 5 series car that was found on the premises of the convict.

Justice Abang stressed that though the law made provision for a maximum sentence of 14 years, he said he was moved by Maina’s plea for mercy.

Recall that a month ago, the court jailed Mr Maina’s son, Faisal, after finding him guilty on all three counts of money laundering involving N58.1million in public funds.

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