N2bn Pension Fraud: Witness Reveals How Maina, Son Made Huge Cash Withdrawals
- Humongous withdrawals were made in Maina’s account.
- Faisal faces crimes bordering on money laundering, corruption, and failure to fully disclose his assets.
A witnessed in the ongoing trial involving Abdurrasheed Maina, former chairman of Pension Reform Task Team and his son, Faisal, testified how the duo made huge withdrawals, which he considered as unusual, from their accounts with UBA.
At the hearing on Wednesday before Justice Okon Abang of the Federal High Court, Abuja, the first prosecution witness (PW1), Mairo Abdulahi Bashir, a branch manager with United Bank for Africa, UBA, who was under cross-examination by defence counsel, Esther Uzonna, presented documents indicating that Faisal on June 13, 2019 withdrew N58,111,585.02k.
Recall that the trial of Abdulrasheed Maina followed immediately with Justice Abang refusing an application for an adjournment of his trial on health grounds, saying the application was defective as it did not follow due legal procedure.
READ: Just in: Court Grants Maina N1bn Bail
Bashir disclosed that a cash withdrawal was made in Maina’s account on February 8, 2015, in Dubai, United Arab Emirates through an ATM to the tune of $323,396 which was captured in Exhibit B2, page three.
He also revealed that on February 11, 2015 there was another ATM withdrawal carried out in Dubai to the tune of N183, 563,737.92K.
While disclosing that several individuals made deposits into Maina’s account, he said the chief among such people was one Alhaji Lawwali.
Although he was not a compliance officer of the bank, the witness said the deposits and withdrawals in Maina’s account, “were unusual.”
Justice Abang has adjourned the matter also to November 29, 2019 for the continuation of the cross-examination.
READ: Court Remands Maina in Prison Over N2bn Pension Fraud
The Economic and Financial Crimes Commission (EFCC) is prosecuting Maina on a 12-count charge, bordering on operating fictitious bank accounts, fraud, money laundering and corruption to the tune of over N2billion. His son, on the other hand, faces a three-count charge, bordering on money laundering, corruption, and failure to fully disclose his assets.
