- Ex Pension Task Team Chairman Abdulrasheed Maina Released From Prison
- Former pension boss convicted over ₦2bn pension fund fraud.
- Appeal court upheld conviction and sentence in May 2023.
A former chairman of the defunct Pension Reform Task Team, Abdulrasheed Maina, has been released from prison.
Maina had been serving an eight year jail term at the Kuje Correctional Centre in the Federal Capital Territory.
EDITOR’S PICKS
- SEC Raises Minimum Capital Requirement For Capital Market Operators
- Police Arrest Masquerade Over Violent Attacks in Anambra
- EU Removes Nigeria From High-Risk Money Laundering List
EKO HOT BLOG reports that although details surrounding his release remain unclear, reliable sources disclosed that the former pension boss regained his freedom several weeks ago.
Maina was convicted in November 2021 by the Federal High Court over charges bordering on money laundering involving more than ₦2 billion in pension funds.
He was arraigned in October 2019 by the Economic and Financial Crimes Commission on a 12 count charge, to which he pleaded not guilty.
In his judgment, Justice Okon Abang held that Maina stole over ₦2 billion belonging to pensioners, “most of whom have died without reaping the fruits of their labour.”
The judge also ruled that Maina concealed his identity as a signatory to several bank accounts by using the names of his family members without their knowledge.
Justice Abang found the former Pension Reform Task Team chairman guilty on all 12 counts and sentenced him to a cumulative 61 years imprisonment, ordered to run concurrently.
The sentence took effect from October 25, 2019, the date of his arraignment, effectively limiting his jail term to eight years.
Dissatisfied with the judgment, Maina appealed the verdict. However, in May 2023, the Court of Appeal upheld both his conviction and the eight year sentence.
