Abdulrasheed Maina, the former head of the now-defunct Pension Reformed Task Team, was convicted to eight years in prison by a Federal High Court in Abuja.
According to Channels Television, Maina was found guilty of money laundering.
Justice Okon Abang ruled on Monday that the prosecutor, the Economic and Financial Crimes Commission (EFCC), had produced sufficient evidence through witnesses to prove beyond reasonable doubt that Maina is guilty of money laundering in the amount of N171,099,000.
Maina was also found guilty of disguising his genuine identity as a signatory to accounts opened in two banks – UBA and Fidelity – by using the identity of a member of his family without their knowledge.
These accounts included N300 million, N500 million, and N1.5 billion in cash deposits.
The court ruled that Maina stole money intended for retirees since he couldn’t prove where he acquired it.
The court also found Maina guilty of committing a criminal offense by paying for a property in Abuja in cash for $1.4 million, which is more than the statutory threshold of N5 million and without going through a financial institution.
However, when Maina was leaving the courtroom, there was a squabble between EFCC operatives and security personnel from Kuje Correctional Center over whose custody Maina should be remanded in, since the judge made no decision on where he should be remanded.
During his reading of the verdict, the trial judge stated that the correctional facility will be able to care for his health.
Maina was eventually brought to the Kuje jail center after the scuffle was ended.
His counsel, Olusegun Jolaawo, informed journalists that they will appeal the decision.