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Court finds Maina guilty of money laundering

A Federal High court sitting in Abuja has sentenced the chairman of the defunct Pension Reform Task Team, Mr. Abdulrasheed Maina to 61 years imprisonment for money laundering to the tune of 2.1 billion naira.

Delivering the judgement, the presiding judge Justice Okon Abang said the convict, Abdulrasheed Maina was inhumane and heartless considering how the funds of pensioners was stolen through Fidelity and UBA Banks.

Justice Abang said pensioners suffered and some could have died as a result of the act by Maina.

Justice Abang said Fidelity and UBA licences should have been withdrawn for providing the channels for the stolen funds.

“I find the defendant (Mr Maina) guilty and convicted in count 2, 6, 9, 3, 7 and 10,” Mr Abang held.

In 2019, Maina was arraigned by the Economic and Financial Crimes Commission, EFCC, but pleaded not guilty to the 12-count charge of N2bn money laundering.

The 61 years jail term for the 12 count charge will run concurrently effect from 25th of October 2019.

Reporting by Tanimu Salihu; Editing by Tina Oyinsan