CORRUPTION REWARD: Court sentences Maina to 8yrs jail for stealing N2Bn pension fund.

By Sesan Akinbowale

For stealing N2 billion belonging to pensioners, the Federal High Court in Abuja has sentenced a former chairman of the defunct Pension Reform Task Team (PRTT), Abdulrasheed Maina, to eight years imprisonment.

While giving his verdicts, the judge, Okon Abang, convicted Maina for stealing over N2 billion belonging to pensioners, “most of whom have died without reaping the fruits of their labour,” the judge said.

The judge found him guilty of counts 2, 6, 9, 3, 7 and 10 of the charges filed against him by the Economic and Financial Crimes Commission (EFCC).

“I find the defendant (Mr Maina) guilty and convicted in count 2, 6, 9, 3, 7 and 10,” Mr Abang held.

Premium Times reported that in the analysis of the evidence led in the case, Mr Abang held that the prosecution established its case against Mr Maina.

"According to the judge, the prosecution established that Mr Maina purchased property in Abuja with $1.4million cash without passing through a financial institution. The amount, the judge said, was far above the cash transaction threshold of N5million" the online newspaper reported.

The judge also ruled that the prosecution proved that Mr Maina concealed his true identity as signatory to accounts opened in two new generation banks by using the identity of his family members without their knowledge.

The sums of N300million, N500million and N1.5billion which, according to the judge, were stolen by Mr Maina from pensioners, were deposited in the account.

The judge disclosed that Mr Maina could not explain the source of the money, adding that the convict could not have legitimately earn the sums of money from his salary and emoluments.