Ex-Pension Boss Maina Jailed 61 Years for Money Laundering


 On Monday 8th of November 2021, Justice Okon Abang sentenced the former chairperson of the Pension Reform Task Team, Abdulrasheed Maina, to 61 years’ imprisonments on charges relating to financial crimes.
 
Why does it matter?
The Economic and financial crime commission arrested Maina and are still in search of his son who is still at large for financial crime. He is to face a total jail term of 61 years, but this is to run concurrently for eight years for defrauding the federal government and pensioners of #2.1bn.
 
Justice Abang sentenced him on count one to eight years’ imprisonment, count two to five years’ imprisonment, count three to eight years’ imprisonment, count four to eight years’ imprisonment, count five to three years’ imprisonment and count six to five years’
imprisonment. Maina was also convicted on counts seven, eight, nine, 10, 11 and 12 to eight years, three years, five years, eight years, three years and three years respectively, which took effect on October 26, 2019. This means Maina has six years of his service.
 
The Big Picture.
The Trial Judge ordered the seize of Maina three landed properties and bullet proof Sport Utility Vehicles (SUVs) and other automobiles. These assets are to be auctioned, and the proceeds returned to the account of the federal government.
 
Also, Justice Abang ordered his company Common Input and Property Investment to refund the sum of #1.8 billion and $537, 983 to the Federal Government within 90days.

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