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Maina bags 8-year jail term over money laundering, refund N2.1bn to FG

 

Former Chairman of the defunct Pension Reform Task Team, PRTT, Mr Abdulrasheed Maina, has been convicted and sentenced to eight years in prison for money laundering by a Federal High Court sitting in Abuja, on Monday.


The court, in a judgement that was delivered by Justice Okon Abang, found Maina guilty on all the 12-count charge the Economic and Financial Crimes Commission, EFCC, preferred against him and his company, Common Input Property and Investment Limited.


Justice Abang held 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 N2.1 billion that was traced to their bank accounts, to the Federal Government, after which it ordered that the company should be wound up.

Besides, it ordered the forfeiture of Maina's two choice properties at Lifecamp and Jabi districts of Abuja, to the government, as well as the auction of a bulletproof car and a BMW 5 series car that was found in premises of the convict.


Justice Abang stressed that though the law made provision for a maximum sentence of 14 years, he said he was moved by Maina's plea for mercy.

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