Abdulrasheed Maina, former chairman of the now-defunct Pension Reform Task Team (PRTT), has been released from prison after serving an eight-year jail term following his conviction for money laundering.
Maina had been held at the Kuje Correctional Centre in Abuja, where he was serving the sentence imposed by a federal high court.
While the exact date of his release remains unclear, sources told TheCable that the former pension boss regained his freedom several weeks ago.
In November 2021, Maina was convicted by the Federal High Court in Abuja over offences bordering on money laundering involving more than ₦2 billion in pension funds.
He was arraigned by the Economic and Financial Crimes Commission (EFCC) in October 2019 on a 12-count charge, to which he pleaded not guilty.
Delivering judgment, trial judge Justice Okon Abang held that Maina diverted over ₦2 billion belonging to pensioners, noting that many of the victims “have died without enjoying the fruits of their labour.”
The court further found that Maina concealed his identity by operating bank accounts through the names of his family members, without their knowledge, in a bid to launder the funds.
Justice Abang convicted Maina on all 12 counts and handed down a cumulative sentence of 61 years in prison, which was ordered to run concurrently, resulting in an effective eight-year jail term.
Maina’s release brings to an end one of Nigeria’s most high-profile pension fraud cases, which exposed large-scale abuse of funds meant for retired public servants.
