Ex-Pension Funds boss Maina jailed 8yrs, forfeits N2.1bn, houses, cars to FG

 

The Federal High Court sitting in Abuja, on Monday, sentenced the former chairman of the defunct Pension Reform Task Team (PRTT), Alhaji Abdulrasheed Maina, to eight years in prison.

Maina was convicted by the court for money laundering.

The Economic and Financial Crimes Commission (EFCC) had in a charge marked FHC/ABJ/CR/256/2019, alleged that Maina used a bank account operated by his firm and laundered funds, part of which he used to acquire landed properties in Abuja.

The anti-crimes agency told the court that the 1st Defendant (Maina) used fictitious names to open and operate various bank accounts, as well as recruited his relatives that were bankers to operate fake bank accounts through which illicit funds were channelled.

It alleged that Maina induced staff of the banks to open accounts for him, without the banks conducting the requisite due diligence to verify the identity of the beneficial owner.

The Prosecution maintained that Maina and his company, committed criminal offences, punishable under sections 11(2) (a), 15(3), and 16(2) (c) of the Money Laundering Prohibition Act, and also acted in breach of the Advance Fee Fraud Act.

The court, in the judgment, found Maina guilty on all the 12-count charge the EFCC, preferred against him and his company, Common Input Property and Investment Limited.

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

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Justice Okon Abang, who delivered the judgment, held that the sentence would run concurrently, with effect from October 25, 2019, which was the day the Defendants were arraigned.

He ordered Maina and his firm to forfeit about N2.1 billion traced to their bank accounts, as well as another sum of $223,396.30 to the Federal Government, after which he directed that the company should be wound up.

The court held that the forfeited funds should be paid to Federal Government within 90 days.

Besides, it ordered the forfeiture of Maina’s two choice properties at Life Camp and Jabi Districts of Abuja, to the government, likewise the auction of a bulletproof car and a BMW 5 Series exotic car found in the convict’s premises.

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

Meanwhile, drama ensued shortly after the judgment, as plain-clothed officials of the EFCC, attempted to re-arrest the convicted former pension boss within the court premises.

The EFCC agents had immediately after officials of the Nigerian Correctional Service (NCS), who were leading Maina out of the court, used both a Toyota Hilux and another white Toyota Hiace bus, to block the vehicle meant to convey the convict to prison.

Their move to grab Maina was vehemently resisted by armed officials of the NCS.

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After the clash that lasted over 30 minutes, the EFCC operatives backed out and allowed Maina to be taken away by officials from Kuje Correctional Centre.

Though there is another criminal case pending against Maina before a High Court of the Federal Capital Territory, it was however not clear why the EFCC wanted to take him into its custody.

Earlier in his judgment, Justice Abang held that the EFCC successfully discharged the evidential burden that was placed on it by the law, noting that the Defendants failed to offer any concrete defence to the charge.

He held that the EFCC adduced sufficient evidence that was “unchallenged”.

Justice Abang said there was uncontroverted evidence that Maina had at a period that the pension funds were stolen, paid in over N1.5 billion, N500 million and N300 million, into five bank accounts traced to him.

He said there was no explanation from the 1st Defendant about where the money, which was above his legitimate earnings, came from.

The trial judge held that Defendant, whose monthly salary was about N250,000 could not have been able to save over N2 billion, within the 30 days period that the deposits were made.

“Judgment is hereby entered in favour of the Prosecution and the Defendant is accordingly convicted”, he held.