Maina sentenced to eight years in prison

The Federal High Court sitting in Abuja, on Monday has sentenced the former Chairman of the defunct Pension Reform Task Team, Mr Abdulrasheed Maina, to 8 years in prison for money laundering.

In a judgement delivered by Justice Okon Abang on Monday, Maina was found guilty on several charges of Money Laundering.

 

The Economic and Financial Crimes Commission had arraigned Maina and his son, Faisal, on charges of operating fictitious bank accounts, corruption, and money laundering, to the tune of N2bn.

READ ALSO: JUST IN: Court convicts Maina of money laundering

His firm, Common Input Property and Investment Ltd., also standing trial, was found guilty.

 

Abang ruled that the anti-graft agency successfully established the essential ingredients of the offences contained in the charge, beyond a reasonable doubt. 

 

He held that the sentence would run concurrently, with effect from October 25, 2019.

 

The court ordered Maina and his firm to restitute about N2.1billion that was traced to their bank accounts, to the Federal Government, after which it ordered that the company should be wound up.

 

He also ordered the forfeiture of Maina’s properties in Abuja.

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