A Federal High Court in Abuja on Monday sentenced an ex-Chairman of the defunct Pension Reform Task Team (PRTT), Abdulrasheed Maina, to eight years after convicting him and his firm, Common Input Property and Investment and Investment Ltd, on a 12-count of money laundering.
Justice Okon Abang, in a judgment that lasted about four hours, analysed evidence led by the prosecution and defence and found that the prosecuting agency, the Economic and Financial Crimes Commission (EFCC) established its case against Maina.
Justice Abang added that the prosecution established that Maina stole over N2billion from pensioners’ funds, “most of whom have died without reaping the fruits of their labour.”
The judge also found Maina guilty of purchasing a property in Abuja for which he paid with $1.4million cash, which is above the statutory threshold of N5million and without passing through a financial institution, describing it as a criminal offense.
Justice Abang also found Maina guilty of concealing his true identity as signatory to accounts opened in two new generation banks by using the identity of his family members without their knowledge.
These accounts had cash deposits of N300million, N500million and 1.5billion, which the judge found that Maina stole from pensioners because he could not prove where he got said funds from.
The judge noted that throughout Maina’s service as a civil servant his salary and emoluments could not have amounted to the monies in the accounts.
He noted that the prosecution produced essential evidence through witnesses called to prove beyond reasonable doubt that Maina is also guilty of money laundering to the tune of N171,099,000.
The judge said the amount formed part of the proceeds of unlawful act.
“Judgement is hereby entered in favour of the Prosecution and the Defendant is accordingly convicted.
“I find the first defendant guilty and convicted in count 2, 6, 9, 3, 7 and 10,” the judge said and sentenced Maina to various terms of imprisonment in relation to the court, with the highest being eight,” he ruled.
He said the sentence would run concurrently with effect from October 25, 2019, which was the day the Defendants were arraigned.
Justice Abang ordered the winding up of the firm and further directed that Maina and his firm forfeit to the Federal Government the about N2.1billion traced to their bank accounts, and another $223,396.30.
He added that the forfeited funds should be paid to FG within 90 days.
Justice Abang also ordered the forfeiture of Maina’s two choice properties at Life camp and Jabi districts of Abuja and directed that a bullet proof car and a BMW 5 Series exotic car, found in his premises be auctioned.
The judge noted that though the law provided for a maximum sentence of 14 years for the offence, he was moved by Maina’s plea for mercy (allocutus).
Pleading for Maina, his lawyer, Olusegun Jolawon (SAN) said: “I beg my lord to give the Defendant a second chance by not bringing down the full weight of the law.
“The defendant obviously made some mistakes and he is very remorseful about them. He is the breadwinner of both his nuclear and extended family.
“Moreover, there is documentary evidence that he is seriously sick. Nobody is immune to illness.”
Maina, who was allowed by the court to speak, said: “My lord, I want to apologise for anything I may have done with or without my intention. It was all adduced to me.
“I was never opportune to be in the witness box, if not, you would have heard a lot of things,” he said, adding he has three different tumours in his body and would need to undergo a medical operation urgently.
After listening to Maina and his lawyer, the judge said: “The facts of this case portray the moral decadence of the society we live in. Having considered the monumental fraud, about how pensioners’ funds were stolen.
“It is a clear case that the convict is inhuman, heartless and had no compassion for the pensioners. Some of them have suffered, others have died while waiting to get their reward on earth.
“Whereas the convict was feeding fat from their sweat in faraway Dubai, buying properties, driving bulletproof cars that were beyond his legitimate earnings.
“Abnormal situation requires drastic action to send a message to those that believe in dishonesty, to have a rethink,” he added.
The judge, who frowned at the conduct of the two banks used by Maina in committing the crime, said the Federal Government ought to have withdrawn their operating licenses.
