A Federal High Court in Abuja has sentenced AbdulRasheed Maina, the former chairman of the now-defunct Pension Reformed Task Team, to eight years imprisonment.
Maina was convicted after he was found guilty of money laundering.
In a judgment delivered yesterday by Justice Okon Abang, the court held that the prosecutor, the Economic and Financial Crimes Commission (EFCC) has produced essential evidence through witnesses to prove beyond reasonable doubt that Maina is guilty of money laundering in the sum of N171,099,000.
Maina was also found guilty of concealing his true identity as a signatory to accounts opened in two banks UBA and Fidelity bank by using the identity of his family members without their knowledge.
These accounts had cash deposits of N300million, N500million, and N1.5billion
The court held that Maina stole monies meant for pensioners as he could not prove where he got them from. The court also found Maina guilty for the purchase of a property in Abuja, paid in cash in the sum of $1.4million, which is above the statutory threshold of N5million and without passing through a financial institution, describing it as a criminal offense.
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 counts 2, 3, 6, 7, 9 and 10 of the charge. The sentence shall run from October 25, 2019.
Maina was thereafter taken to Kuje Correctional Centre.
His Counsel, Olusegun Jolaawo, however told newsmen that they will be appealing the judgment.
