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Home | Abdulrasheed Maina: Court Reaffirms 8-Year Jail Term For ex-Pension Boss

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Abdulrasheed Maina: Court Reaffirms 8-Year Jail Term For ex-Pension Boss

Tapre Timine
Tapre Timine
Published: February 11, 2025
Last updated: February 11, 2025
3 Min Read
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Abdulrasheed Maina: Court Reaffirms 8-Year Jail Term For ex-Pension Boss | Daily Report Nigeria
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The Court of Appeal in Abuja has reaffirmed an eight-year sentence imposed on the former Chairman of the defunct Pension Reform Task Team, Abdulrasheed Maina, following his conviction on a 12-count money laundering charge.

The three-member panel unanimously agreed that there was no reason to set aside the judgement of the Federal High Court in Abuja which found him guilty.

Moreover, the court stated that there was no evidence to establish that the trial court had denied the former pension boss a fair hearing.

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In the lead judgement delivered by Justice Elfreda Williams-Daudu, the appellate court resolved all the issues Maina raised before it, against him.

The court held that the Economic and Financial Crimes Commission(EFCC) proved its case beyond a reasonable doubt.

The Federal High Court has affirmed the interlocutory rulings delivered during the trial of Maina, which he had previously appealed against.

READ ALSO: N480m Fraud: Police Declare CEO Chinmark Group, Ijiomah Marksman Wanted

Justice Williams-Daudu dismissed the appeal, citing its lack of merit. The decision comes after Maina was convicted and sentenced for his involvement in money laundering, as brought against EFCC.

The charge, marked FHC/ABJ/CR/256/2019, alleged that Maina used a bank account operated by his firm to launder funds and acquire properties in Abuja.

The anti-graft agency further stated that Maina used fictitious names to open and operate various bank accounts and recruited his relatives, who were bankers, to operate fake bank accounts through which illicit funds were channeled.

The EFCC accused Maina of inducing staff of United Bank of Africa( UBA)and Fidelity Bank Plc to open accounts for him without conducting due diligence to verify the identity of the beneficial owner.

READ ALSO: Maina Found Guilty of Money Laundering, Gets 8 Years Sentence

The court found Maina and his firm, Common Input Property, and Investment Limited, guilty of the crime.

During the trial, Justice Okon Abang held that the sentence would run concurrently with effect from October 25, 2019, which was the day the defendants were arraigned.

The justice ordered Maina and his firm to forfeit about N2.1 billion that was traced to their bank accounts, as well as other monies to the Federal Government payable within 90 days. Albany then directed that the company should be wound up.

The court has ordered the forfeiture of Maina’s properties in the Lifecamp and Jabi districts of Abuja to the government. In addition, a bulletproof car and a BMW 5 Series exotic car found on the premises were auctioned.

It was said that the defendants were found guilty of an offence that carries a maximum sentence of 14 years, but Justice Abang was moved by Maina’s plea for mercy.

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