Former Pension Boss Maina Goes to Jail for N2 Billion Pension Fraud

Former Pension Boss Maina Goes to Jail for N2 Billion Pension Fraud

By Joy Uchejim

The former chairman of Pension Reforms Task Team, Abdulrasheed Maina has been sentenced to 61 years’ imprisonment.

This came on Monday as Justice Okon Abang of a Federal High Court in Abuja on found him guilty and sentenced him to 61 years’ imprisonment which will run concurrently at eight years.

The court had found him guilty of inducing staff of Fidelity Bank to open bank accounts for him without conducting due diligence and money laundering.

Delivering the judgement, Justice Abang also found him 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.

These accounts were said to have cash deposits of N300 million, N500 million and N1.5 billion.

The court held that Maina stole monies meant for pensioners as he could not prove where he got same from.

Justice Abang also held that through Maina’s service as a civil servant, his salary and emoluments would not amount to the monies in these accounts.