Abdulrasheed Maina, the former chairman of the now-defunct Pension Reformed Task Team has been sentenced to 61 years in prison after he was found guilty of money laundering.
The Jail term totalled 61 years but will run concurrently at eight years.
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Justice Okon Abang of a Federal High Court in Abuja on Monday said that evidences proved that Mr Maina stole over N2 billion belonging to Pensioners, “most of whom have died without reaping the fruits of their labour,”.
The court also found him guilty of bribing staff of Fidelity Bank to open bank accounts for him without conducting due diligence and money laundering.
Delivering his judgement, Justice Abang also found him guilty of hiding his true identity as signatory to accounts opened in UBA and Fidelity Bank by using the identity of his family members without their knowledge.
These accounts were said to have cash deposits of N300 million, N500 million and N1.5 billion.
The court held that Maina stole monies meant for pensioners as his salary and emoluments as a civil servant would not amount to the monies in these accounts.
Maina was arraigned by the Economic and Financial Crimes Commission on a 12-count charge on 25th October 2019, for allegedly stealing of pension funds, and money laundering allegation.
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He was granted bail in the sum of N1bn, and ordered him to produce two sureties who must be serving senators.
However, due to prolonged absence in court, Justice Abang on November 18, 2020 revoked Maina’s bail, and consequently ordered his reaarrest anywhere within and outside Nigeria.
