Business

Stolen N1.5bn pension funds found in Maina’s Account, says witness

Published

6 years ago

November 26, 2020

The trial in absentia of Abdulrasheed Maina, former Chairman, Pension Reform Task Force Team, continued on Wednesday, with a startling revelation by a witness that N1.5bn of the pension funds was found in the account of the ex-PRTFT boss.

The witness also told Justice Okong Abang of the Federal High Court, Abuja during the trial how N14 billion pension money was pilfered under Maina.

The Economic and Financial Crimes Commission, EFCC is prosecuting Maina, alongside his firm, Common Input Property and Investment Ltd.

Both are facing a 12-count charge of operating fictitious bank accounts, corruption, and money laundering to the tune of N2 billion.

At the trial, counsel to Common Input Property and Investment Ltd (the second defendant), Adeola Adedipe told the court of his intention to disengage as the company’s counsel.

Though Prosecution counsel, M.S. Abubakar, acknowledged the receipt of the defence counsel’s disengagement application, dated November 25, 2020, and made no objection to it, Justice Abang, ruled that Adedipe should remain counsel to the second defendant by the court records.

The testimonies against Maina continued with that of the ninth prosecution witness, (PW9), Rouqayyah Ibrahim, a principal investigation officer with the EFCC in Anti Money Laundering and Combating Terrorism Financing (AML CFT) unit of the Commission and member, Pension Fraud Team.

He stated that he knew Maina and Input Property Investment Ltd, following the invitation of the EFCC in 2010, to join in the pension verification exercise.

According to him, a payment mandate, bearing the names of several individuals, totalling N94 million was discovered during the course of the verification.

He said some of the pensioners’ names on the list were fake, for which a report was made to the EFCC by the team, leading eventually to the creation of the Pension Fraud Team.

The Pension Fraud Team, he said, wrote to about 30 banks, requesting the bank accounts of Mr. Steven Oransanye as the Head of Service.

It turned out that Oransanye at that time, operated 66 illegal bank accounts, unknown to the Accountant General.

“Our investigation revealed that there were five modus operandi that the suspect whom we were investigating at that time was using to steal money from the pension account.

“In total, we were able to deduce that N14 billion was stolen from the pension account.

“The five modus operandi were payment to fake pensioners, non-existing contracts, illegal payment to National Union of Pension NUP and illegal payment to another association called Association of Retired Federal Civil Servants.

“We discovered that the suspect will often pay companies for non-existing biometric contract and once the payment is made, they withdraw cash and hand it over and likewise payment to the two associations of NUP and Association of Retired Federal Civil Servants.

“They will withdraw the money cash and hand it over to the person who asked them to supply the account.

“Once we concluded the investigation of those who were indicted, they were charged to court, and some have been convicted,” the witness said.

He said Abdulrasheed Maina was part of those indicted and charged before Justice I. Ekwo of the Federal High Court, Abuja, but that he ran away for six years. And was arrested and charged before the present court.

The PW9 revealed that Maina as chairman, PRTT was deeply involved in stealing pension funds. One of the things discovered was the payment of N133 million for a non-existing contract to Xanjhi Technology, a company he appointed to computerize the pension payroll.

The money was withdrawn in cash, converted to dollars and handed over to Khalid Biu (PW5), a staff of Fidelity Bank and handed over to Maina’s secretary, Ann Igwe Oluchi, who is now standing trial at FCT High Court Gwagwalada.

Xanjhi Technology and its owner, Ahmed Mazangari are also standing trial for inserting about 15 fake persons into the pension payroll which they were engaged to computerize.

Said the witness, “We also discovered that Frederick Hamilton Ltd, owned by Osa Afe, presently standing trial with Steven Oransanye who received payment for a non-existing biometric contract handed over about N250 million to Maina.

“Our investigation further revealed the existence of six accounts with Fidelity Bank. Out of the six, five were linked to Abdurrasheed Maina.

“We discovered that there was nowhere in the accounts opening packages of these accounts where the name, birthday or signatures of Abdurrasheed Maina appeared.

“These account are: Nafisatu Aliyu Yeldu (PW4) Drew Construction, also an account Kangolo Dynamic Cleaning Services Ltd, Cluster Logistics Ltd, Fatima Aliyu. He also had a personal account in his own name with Fidelity Bank, and also in the name of Dr. Abdullahi Faizal.

“For example Nafisatu Aliyu Yeldu’s account bears the name of Abdurrasheed Maina’s sister. It also bears her passport photograph.

“On the face of it, it appears the account belonged to her, but when we invited her for investigation, we discovered she didn’t know anything about the account, even though it contains her name and children but it was not her signature.

“She informed us that she remembers at one point that Toyin Meseke (PW2), who is a Fidelity Bank staff requested for her PHCN (power utility) bill but she wasn’t sure what he wanted it for and that was one of the documents that was used in opening the account.

“She also informed us that when she started receiving alerts, she contacted Toyin Meseke and he promised to deal with the issue.”

“The turnover in Yeldu’s account, the witness said, was over N300m.

“The analysis of the identity used in the opening of Abdullahi Faizal’s account, (one of the many variants of the name Maina used for his son and himself) showed that it was forged, even as Meseke, the account officer, confirmed that Maina had complete control over the account, though his name, signature and photograph did not appear anywhere in the account opening packages. The account had a turnover of about N1.5 billion within nine months from mostly cash deposits from unknown sources.

“We called for the statement of Drew Construction and of his Fidelity Bank, and discovered the same modus by Maina, concealing and stealing the identity of his family members, registering companies in their names, opening corporate bank account without their knowledge.

“In the case of Drew Construction, it was the name of his other sister, Fatima Abdullahi Aliyu. When she was confronted, it showed that she had no knowledge of the account, even though it bore her name and other similar information that belonged to her. The turnover was about N55 million all from cash deposits within a few months.

“We also discovered from Common Input, a company registered by Maina and his wife, using the details of his sister (PW2), taking advantage of his sister-in-law, Mairo Bashir (PW1), who deliberately allowed Maina to conceal his identity without doing the ‘Know Your Customer’ and allowing him to operate the accounts as Fatima Abdullahi. When Fatima was invited, we confronted her that her BVN was linked to Common Input and Kongolo Dynamic Cleaning Services Ltd and she confirmed that she did not know about the existence of the company and that Maina requested her to give her BVN so that she will be removed as a signatory from the company and she wasn’t aware of being a signatory of any company but innocently gave them the BVN, believing that will make her stop being a signatory of the said company.

Justice Abang adjourned the trial till December 3, 2020.

Auto

NADDC Pushes Affordable Auto Loans to Boost Vehicle Ownership, More Jobs

Published

1 day ago

September 21, 2026

Trends Admin

NADDC Pushes Affordable Auto Loans to Boost Vehicle Ownership, More Job

The National Automotive Design and Development Council has called for far-reaching reforms in vehicle financing to make car ownership more affordable while boosting local vehicle assembly, job creation and industrial development.

The Council said a properly structured financing system could turn vehicle credit from a mere consumer lending product into a major economic tool for expanding productive mobility and strengthening Nigeria’s automotive value chain.

Director-General of NADDC, Otunba Joseph Oluwemimo Osanipin, stated this in an address delivered on his behalf by the Council’s Principal Information Officer, Tanko Kyumnom, at the Lagos Chamber of Commerce and Industry (LCCI) Auto Sectoral Group Symposium in Lagos.

The symposium, held on Thursday, September 17, 2026, at the Henry Fajemirokun Hall of LCCI, was themed: “From Subsidy to Credit: Can Vehicle Financing Replace Fuel Subsidy as Nigeria’s Mobility Equaliser?”
Osanipin said the growing cost of mobility had made it necessary to explore financing models that would enable individuals, businesses and transport operators to acquire vehicles without bearing the full cost of ownership upfront.

According to him, spreading vehicle payments over an agreed period could provide a more sustainable pathway to vehicle acquisition, provided that the financing products are affordable, accessible and structured around the economic realities of Nigerian consumers.

He, however, cautioned that simply making credit available would not be enough.
“Vehicle financing offers a more sustainable approach by enabling individuals, businesses and transport operators to acquire vehicles and pay for them over time,” Osanipin stated.
The NADDC DG said the bigger opportunity lies in linking vehicle financing with the growth of locally assembled and Nigerian-made vehicles.

He explained that increased access to credit for locally produced vehicles could generate wider economic benefits by stimulating demand for domestic assembly, supporting component manufacturers, creating jobs and strengthening local supply chains.

Osanipin therefore urged stronger collaboration among government institutions, financial institutions, vehicle manufacturers and other stakeholders in designing financing schemes capable of supporting both mobility access and automotive industrialisation.

The NADDC boss identified affordable vehicle loans, leasing arrangements, fleet financing, credit guarantees and appropriate interest-rate support as mechanisms that could broaden access to vehicle ownership and productive mobility.

lt also stressed the need for repayment structures that take into account the earning patterns and business realities of Nigerians, particularly transport operators and small businesses whose vehicles are directly linked to their income-generating activities.

Osanipin maintained that the objective should extend beyond increasing the number of vehicles on Nigerian roads.
“The goal is not simply to put more vehicles on Nigerian roads. It is to ensure that Nigerians can access productive mobility without placing an unsustainable burden on government finances or household incomes,” he said.

According to him, a properly structured automotive financing system could create a stronger connection between mobility, economic inclusion and domestic vehicle production.

“With the right policies and partnerships, vehicle financing can become a powerful instrument for mobility, economic inclusion and automotive industrial development,” Osanipin added.

The NADDC’s position places vehicle financing within the broader effort to build a sustainable automotive ecosystem in Nigeria—one in which access to credit supports vehicle users while also creating stronger demand for local assembly, components and associated automotive services.

Auto

Jetour T1 Storms Abuja as Automaker Accelerates Nigeria Expansion

Published

1 day ago

September 21, 2026

Trends Admin

Jetour T1 Set to debut in Abuja as Expansion Gains Momentum

Following a successful debut in Lagos, Jetour Nigeria will host the Jetour Experience Abuja from September 22 to 24, 2026, positioning its all-new T1 model as a major competitor in the country’s growing adventure SUV market.

The three-day event in the Federal Capital Territory will give prospective buyers and motoring enthusiasts direct access to product demonstrations, expert-led technical sessions, and hands-on test drives.

“Strong participation, extensive test drives, and significant sales enquiries at the Lagos edition, coupled with growing demand from Abuja residents, influenced the decision to bring the experience to the nation’s capital,” the company said in a statement. The show holds at Maha Event Centre, Area 8, Garki.

To support its growing national footprint, Jetour Nigeria has established a network of seven accredited dealers: Elizade Nigeria Limited, New Era AutoVehicle Services Limited, Kojo Motors, Germaine Auto Centre, Tab Autos Limited, R.T. Briscoe Motors, and Mandilas Autos. The partnerships cover retail sales, genuine spare parts supply, and comprehensive after-sales maintenance.

Jetour T1 Set to debut in Abuja as Expansion Gains Momentum

Auto

Abuja Demand Rises as Jetour Brings X70 Plus Experience to FCT

Published

3 days ago

September 20, 2026

Trends Admin

Abuja Demand Rises as Jetour Brings X70 Plus Experience to FCT

Jetour Nigeria is taking its seven-seater X70 Plus SUV to Abuja as rising interest from motorists in the Federal Capital Territory and neighbouring states fuels the brand’s latest push to deepen its presence across Nigeria.

The X70 Plus will headline the Jetour Experience Abuja, holding from September 22 to 24 at Maha Event Centre, Area 8, Garki, following the strong response recorded during the Lagos edition, where motorists turned out for test drives and made enquiries about Jetour models.

The Abuja activation is designed to give prospective buyers direct access to the X70 Plus and other models, with opportunities to test-drive the vehicles, engage product specialists and experience their technology, safety and comfort features.

The X70 Plus is positioned as a family-oriented SUV, offering seven-seat capacity and a range of features targeted at customers seeking comfort, technology and practicality.

The SUV is available with 1.5-litre and 1.6-litre turbocharged engine options, with outputs of up to 145kW and 290Nm of torque, paired with a dual-clutch automatic transmission.