N2.1bn Fraud: Appeal Court Upholds 8 Year Jail Term For Maina

The Court of Appeal sitting in Abuja has upheld the eight-year jail term imposed on Abdulrasheed Maina, former Chairman of the Pension Reform Task Team (PRTT).

Maina was prosecuted by the Economic and Financial Crimes Commission for money laundering to the tune of N2.1 billion.

Recall on November 8, 2021, Justice Abang, found Maina guilty of money laundering, where he concealed his true identity as a signatory to accounts opened in two banks.

The accounts are: UBA and Fidelity Bank, and using the identity of his family members without their knowledge had laundered some money. 

The accounts had cash deposits of N300 Million, N500 Million, and N1.5billion

However, in a unanimous judgment delivered on Friday, a three-member panel of the court affirmed the November 8, 2021 judgment earlier delivered by Justice Okon Abang of the Federal High Court, Abuja where he was convicted and sentenced.

During the sitting, Justice Elfreda Williams-Daudu who delivered the lead judgment resolved the two issues identified for determination against Maina.

He held that Maina was not denied fair hearing by the trial court and that the prosecution proved its case beyond reasonable doubt.

Justice Abang also held that through Maina’s service as a civil servant, his salary and emoluments could not have amounted to the monies in the said accounts.