Justice Okon Abang of the Federal High Court, Abuja had found former chairman of now-defunct Pension Reforms Task Team, Abdulrasheed Maina, guilty of money laundering charges and sentenced him to 61 years’ imprisonment on Monday.
The prison terms are however to run concurrently for eight years.
The court held that Maina was guilty of inducing staff of Fidelity Bank to open bank accounts for him without conducting due diligence.
Justice Abang also held that the former pension boss concealed his true identity as signatory to accounts opened in UBA and Fidelity banks as he used the identity of his family members without their knowledge.
The accounts were said to have cash deposits of N300 million, N500 million and N1.5 billion.
Delivering the judgement, Justice Abang said that Maina stole monies meant for pensioners.
He maintained that Maina’s emoluments as a civil servant would not amount to the monies in these accounts.
He held that the Economic and Financial Crimes Commission proved beyond reasonable doubt that Maina was guilty of money laundering worth N171,099,000.
The judge ruled that the prosecution successfully established the essential ingredients of the offences contained in the charge, beyond reasonable doubt and convicted him on count 2, 3, 6, 7, 9 and 10 of the charge.
The sentenced shall run from October 25, 2019.
The court also ordered Maina and his firm, Common Input Property and Investment Limited, to restitute about N2.1billion that was traced to their bank accounts, to the Federal Government, after which it ordered that the company should be wound up.
The Court further found Maina guilty of purchasing a property in Abuja for which he paid with $1.4million cash, without passing through a financial institution.
The court had on October 8, adjourned till today for judgement after Justice Abang refused the request by counsel to Maina, Anayo Adibe, asking for time to file his written address.
The prosecuting counsel, Farouk Abdullah opposed the application on the ground that the defendants had ample time to prepare their written address.
“The defendants cannot dictate to this court how to conduct its business”, he had said. Justice Abang upheld the argument of the defence, stating that “They (defendants) cannot dictate to the court when to file their written addresses and no material is placed before the court to seek for an adjournment in their favour.”
In the course of the trial, EFCC called several witnesses. One of the witnesses Rouqayyah Ibrahim, who testified as ninth prosecution witness (PW9) told the court how Maina acquired properties in Dubai, United Arab Emirate, United States of America, and a $2million (Two Million USA Dollars), property in Jabi, Abuja.
The witness revealed that about 32 documents, hard discs and flash drives relating to properties linked to Maina and his family and details of some of his investments in Dubai and in the US were recovered from him.
“Particularly in Dubai, investigation revealed that his company, Northrich Company owned over 50 cars that were used for transportation business and he owns a villa in a High Ground area in Dubai. His wife Laila Abdurrasheed also owns cleaning services, called Spotless and Flawless. We also recovered pay slips during our investigation,” she said.
The witness also disclosed that investigation proved that another of Maina’s company, Kangolo Dynamic does no business but that the defendant created a bank account for it in which his name did not appear anywhere on the account documentation even though he was in control of all the deposits in it.
She also told the court that investigation showed that Colster Logistics, belonging to Maina had a Fidelity Bank dollar account which had an inflow of over $400,000,00 (Four Hundred Thousand Dollars) from cash deposits as at the time the company was investigated.
She further told the court that over N500 million was discovered in the account of Kangolo Dynamic, within the years Maina was chairman, PRTT.
The trial was not without drama. On December 10, 2021 Maina collapsed in court forcing Justice Abang to adjourn till December 21 to hear his no- case submission.
He also at a point jumped bail but was arrested in Niger Republic and repatriated to Nigeria to face his trial.
