Fraud: Maina Bags 8yr Jail Term

Former Chairman of the Pension Reform Task Team, PRTT, Abdulrasheed Maina has been sentenced to 8 years imprisonment by a Federal High Court sitting in Abuja.

Delivering the judgement, Justice Okon Abang said the jail term which is totalled 61 years will run concurrently.

It will be recalled that the former PRTT boss was arraigned in October 2019 by the Economic and Financial Crimes Commission, EFCC on a 21-count charge bordering on stealing of pension funds, and money laundering allegation.

His offences contravened and is punishable under Sections 11(2) (a), 15(3), and 16(2) (c) of the Money Laundering Prohibition Act, and also acted in breach of the Advance Fee Fraud Act.

The court on November 26, 2019, granted Maina bail in the sum of N1bn, and ordered him to produce two sureties who must be serving senators.

The two sureties according to the court must be prepared for a N500m bond each, and must always be in court with the defendant at each adjourned date of the trial.

While complaining about the strigent, excessive and impracticable bail condition, Maina applied for variation.

On January 28, 2020, Justice Abang exercised discretion of the court judicially and judiciously in reducing Maina’s bail conditions to N500m with a serving Senator as surety.

Due to prolonged absence in court, Justice Abang on November 18, 2020 revoked Maina’s bail, and consequently ordered his reaarrest anywhere within and outside Nigeria.

Meanwhile, the court on November 23, 2020 sent Maina’s surety, Senator Ali Ndume to prison following his failure to produce the defendant in court to continue his trial.