A Federal High Court in Abuja has sentenced Abdulrasheed Maina, the former chairman of the now-defunct Pension Reformed Task Team to eight years imprisonment.

Maina was convicted after he was found guilty of money laundering.

In a judgement delivered on Monday by Justice Okon Abang, the court held that the prosecutor, the Economic and Financial Crimes Commission (EFCC) has produced essential evidence through witnesses to prove beyond reasonable doubt that Maina is guilty of money laundering in the sum of N171,099,000.

Maina was also found guilty of concealing his true identity as a signatory to accounts opened in two banks – UBA and Fidelity bank – by using the identity of his family members without their knowledge.

These accounts had cash deposits of N300million, N500million, and N1.5billion

The court stated that Maina stole monies meant for pensioners as he could not prove where he got them from.

His Counsel Olusegun Jolaawo told journalists that they will be appealing the judgement. He was sent to Kuje correctional center.

Full List Of Properties, Money Recovered By EFCC From Abdulrasheed Maina
The Economic and Financial Crimes Commission, EFCC has given a close view into the crimes committed by Ex-Pensions boss, Abdulrasheed Maina.
1. Cash deposits of N300million, N500million and N1.5billion in Two Nigerian Banks accounts
2. Property in Abuja paid for with $1.4 million Cash
3. 50 cars in Dubai
4. Plush Villa in Dubai
5. $2 million property in Jabi, Abuja
6. Colster Logistics, belonging to Maina received inflow of $400,000 in Cash
7. Kangolo Dynamic, another company belonging to Maina with over N500 million found in its account. The company has never carried out any service or contract.
8. Several Choice Properties in America and the United Arab Emirates.