A Federal High Court judge, Okon Abang, on Monday, revealed the roles two Nigerian banks played in the N2 billion pension fraud perpetrated by a former chairperson of the defunct Pension Reform Task Team , Abdulrasheed Maina.earlier that the judge sentenced Mr Maina to eight years’ imprisonment in his judgement at the end of two-year trial on Monday.
“The banks benefitted from the proceeds of illegal transactions. UBA and Fidelity Bank provided the channels with which the convict used in defrauding the federal government,”Mr Abang also said. “Having considered the monumental fraud of how the pensioners funds were stolen, over N2.1 billion by the 1st Defendant .
“An abnormal situation requires drastic actions to send a message to those that believe in dishonesty to have a rethink; turn a new leaf. He said Mr Maina could not have earned the sum of N2 billion when his salary as a civil servant was a little above N300, 000 per month. Mr Maina had jumped bail twice in the course of the trial. He was recently arrested in Niamey, Niger Republic, where he had fled.
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