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Court Sentences Former Pension Boss, Abdulrasheed Maina to Eight Years in Prison for Fraud, Stealing and Money Laundering

BoomRadioNG | November 8, 2021

A Federal High court in Abuja has today found former chairman of the now-defunct Pension Reformed Task Team, Abdulrasheed Maina guilty of fraud and money laundering.

The presiding judge, Justice Okon Abang found him guilty of coercing fidelity bank staff to open bank accounts for him without going through the proper channels of due diligence.

Mr Maina was also found guilty of concealing his true identity as signatory to accounts opened in UBA and Fidelity bank by using the identity of his family members without their knowledge which had cash deposits of N300million, N500million and 1.5billion


Abdulrasheed Maina


The court held that Mr Maina stole monies from the pension fund as he could not prove where he got the said monies from and Mr. Maina being a civil servant, his salaries and emoluments couldn’t have amounted to the monies found in his account.

The court further held that the prosecution (EFCC), produced essential evidence through witnesses called, to prove beyond reasonable doubt that Mr Maina is also guilty of Money laundering in sum of N171,099,000.

The Economic and Financial Crimes Commission, accused Abdulrasheed Maina for stealing and laundering about N2 billion meant for pensioners which he had earlier pleaded not guilty.




Dolupo Balogun

Written by BoomRadioNG


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