The Court of Appeal in Abuja upheld the eight-year sentence imposed on Abdulrasheed Maina, a former Chairman of the Pension Reform Task Team over money laundering charges to the tune of about N2.1 billion. The ruling was delivered on Friday by a three-member panel unanimously affirming the judgment of Justice Okon Abang convicting and sentencing Maina on November 8, 2021.


The three-man panel led by Justice Elfreda Williams-Daudu, stated that the appellant was not denied a fair hearing, adding that the prosecution, the Economic and Financial Crimes Commission (EFCC) proved its case beyond a reasonable doubt.

Maina was convicted in November 2021 after he was found guilty of money laundering.

He concealed his true identity as a signatory to two bank accounts by using the identity of his family members without their consent and depositing cash of about N2.3 billion into the accounts.

He allegedly induced staff of banks to open accounts for his company, without conducting the necessary due diligence procedure to confirm the identity of the account owner.

His properties in Lifecamp and the Jabi area of Abuja were forfeited to the government while some of his properties were auctioned.

The court also found Maina guilty of purchasing a property in Abuja worth $1.4 million paid in cash, which is above the approved threshold of N5 million.