Maina Bags 8Years Imprisonment for N2.1bn Pension Fund Fraud

 

The Federal High Court sitting in Abuja, on Monday, sentenced the former chairman of the defunct Pension Reform Taskforce (PRTF), Abdulrasheed Maina, to a total of 61 years imprisonment for defrauding the Federal Government of the sum of N2.1 billion.

 

Justice Okon Abang, in his judgment, found Maina guilty on all the 12-count charge brought against him on October 26 2019 by the Economic and Financial Crimes Commission (EFCC) and sentenced him accordingly.

 

The judge sentenced him on Count 1, to 8 years imprisonment, count 2 to 5 years imprisonment, count 3, to 8 years imprisonment, count 4, to 8 years imprisonment, on count 5, to 3 years imprisonment and count 6, to 5 years imprisonment.

 

Maina was also convicted on counts 7, 8,9,10,11and 12 to 8 years,3years, 5 years,8 years, 3 years and 3years respectively with effect from October 26, 2019.

 

The sentences are to run concurrently which implied that Maina would spend only 8 years in jail from October 26, 2019 which means he has only five years left to be in jail.

 

The court, however, ordered the forfeiture of Maina’s three landed properties in Abuja and his bullet-proof jeeps and other vehicles. They were to be auctioned and the proceeds paid into the Federal Government account.

 

His company, the ‘Common Input and Property Investment’ was ordered to refund the sum of N1.8bn and $537,983 dollars within 90 days to the Federal Government. The judge also ordered the winding up of the company.