General
N2.1bn Pension Scam: Court Convicts Maina
By Modupe Gbadeyanka
A federal high court sitting in Abuja on Monday, November 8, 2021, convicted former chairman of the Pension Reform Task Team (PRTT) Mr Abdulrasheed Maina.
Justice Okon Abang, in a ruling today, found Mr Maina guilty of charges of money laundering brought against him by the Economic and Financial Crimes Commission (EFCC) and sentenced him to eight years imprisonment.
According to the judge, the prosecution successfully established the essential ingredients of the offences contained in the charge, beyond reasonable doubt and convicted him on counts 2, 3, 6, 7, 9 and 10 of the charge. The sentence shall run from October 25, 2019.
The court also ordered Mr Maina and his firm, Common Input Property and Investment Limited, to restitute about N2.1 billion that was traced to their bank accounts, to the federal government, after which it ordered that the company should be wound up.
The court found Mr Maina culpable of concealing his true identity by inducing officials of two banks, Fidelity Bank and UBA, to open accounts for him, without carrying out due diligence, using the identities of members of his family without their knowledge.
Two of those accounts had cash deposits of N300 million, N500 million and N1.5 billion.
The court held that Mr Maina stole monies meant for pensioners, “most of whom have died without reaping the fruits of their labour,” as he could not explain the source of the monies in his accounts. Moreover, his salaries and emolument as a civil servant could not justify the monies in these accounts to which he is a signatory.
The court further found Mr Maina guilty of purchasing a property in Abuja for which he paid with $1.4 million cash, without passing through a financial institution.
The court had on October 8, adjourned till today for judgment after Justice Abang refused the request by counsel to the convict, Mr Anayo Adibe, asking for time to file his written address. The prosecuting counsel, Farouk Abdullah opposed the application on the ground that the defendants had ample time to prepare their written address.
“The defendants cannot dictate to this court how to conduct its business””, he had said. Justice Abang upheld the argument of the defense, stating that “They (defendants) cannot dictate to the court when to file their written addresses and no material is placed before the court to seek for an adjournment in their favour.”
In the course of the trail, EFCC called several witnesses. One of the witnesses Rouqayyah Ibrahim, who testified as a ninth prosecution witness (PW9) told the court how Maina acquired properties in Dubai, United Arab Emirate, United States of America, and a $2 million property in Jabi, Abuja.
The witness revealed that about 32 documents, hard discs and flash drives relating to properties linked to Mr Maina and his family and details of some of his investments in Dubai and in the US were recovered from him.
“Particularly in Dubai, investigation revealed that his company, Northrich Company owned over 50 cars that were used for transportation business and he owns a villa in a High Ground area in Dubai. His wife Laila Abdurrasheed also owns cleaning services, called Spotless and Flawless. We also recovered pay slips during our investigation,” she said.
The witness also disclosed that investigation proved that another of Mr Maina’s company, Kangolo Dynamic does no business but that the defendant created a bank account for it in which his name did not appear anywhere on the account documentation even though he was in control of all the deposits in it.
She also told the court that investigation showed that Colster Logistics, belonging to Maina had a Fidelity Bank dollar account which had an inflow of over $400,000 from cash deposits as at the time the company was investigated.
She further told the court that over N500 million was discovered in the account of Kangolo Dynamic, within the years Mr Maina was chairman of PRTT.
By Adedapo Adesanya
The federal government has inaugurated a 17-member Planning Committee to coordinate the National Flag-Off of the Energise Commercialisation Now (ECoN) Initiative, a flagship programme aimed at transforming research outputs into economic value.
Speaking at the inauguration in Abuja, the Permanent Secretary of the Ministry of Innovation, Science and Technology, Mr Philip Ndiomu Ebiogeh, described the initiative as a strategic intervention to convert Nigeria’s vast research and innovation outputs into market-ready products, scalable enterprises, and job-creating opportunities.
He noted that ECoN will mobilise stakeholders nationwide to identify bankable innovations and accelerate their transition from laboratories to the marketplace, stressing that the country must move beyond theoretical research to practical solutions that drive industrial growth and national prosperity.
The Permanent Secretary disclosed that the Minister of Innovation, Science and Technology, Mr Kingsley Tochukwu Udeh, had earlier briefed the First Lady, Mrs Oluremi Tinubu, on the initiative and proposed her as a champion of the programme, with the national flag-off scheduled for Kano State.
He explained that Kano was deliberately selected due to its historic role as a commercial and industrial hub, offering strong potential to attract investment, stimulate enterprise, and create jobs.
The Committee is chaired by the Minister, with the Permanent Secretary as Co-Chairman, while the Director-General, National Biotechnology Research and Development Agency, NBRDA, and the Director-General, Sheda Science and Technology Complex, SHESTCO, serve as Alternate Chairmen.
Members include Professor Nnayelugo Ike-Muonso, Dr Kazeem Kolawole Raji, Dr Jummai Adamu, Dr (Mrs) Obiageli Amadiobi, Dr Kabiru Mu’azu, Dr Anwal Mustapha, Engr Ibiam Oguejiofo, Mr Moses Fatogun, Mr Adamu Sulaiman (a representative of SMEDAN), Dr Prince Lawrence Eze, Mr Sani Garba, Dr Muhammad Mustapha, Dr Chioma Okeke, Mr Luther Onyemkpa, Mr Charles Egumgbe, and Dr Nwankwo Nnenna serving as Secretary.
The national flag-off is proposed for late April or early May 2026, subject to Presidential approval.
The Ministry reaffirmed its commitment to positioning innovation as a key driver of economic diversification and sustainable development, in line with President Bola Tinubu’s Renewed Hope Agenda.
By Adedapo Adesanya
Switzerland-headquartered global shipping giant, Mediterranean Shipping Company (MSC), has complied with the directive of the Nigerian Shippers’ Council (NSC) to suspend the implementation of its new tariff pending consultations with stakeholders.
In a customer advisory titled Temporary Suspension of New Tariff Implementation, the shipping line stated that the tariff regime in place before the recent increase would remain effective until further notice.
Business Post reported a few days ago that freight forwarders picketed the offices of MSC, protesting the recent increase in shipping line tariffs. They blocked the regulators from accessing the MSC premises to address the matter.
Despite the protests, the council’s attempt to engage the aggrieved freight forwarders in discussions was resisted, as the protesters insisted that there was no basis for dialogue and vowed to continue the protest until the increased charges were immediately reversed.
In the latest directive, the shipping company said, “We wish to inform our esteemed customers that the recently implemented tariff adjustment has been temporarily suspended, following a directive from the NSC. This suspension is pending the conclusion of ongoing engagements and resolution with the regulator.”
“Accordingly, the tariff regime applicable prior to the recent increase will remain in force until further notice, as mandated.”
The company further assured customers that updates would be communicated once a final decision is reached by the Nigerian Shippers’ Council.
“We remain fully committed to regulatory compliance, transparency, and protecting the interests of our customers. Further updates will be communicated promptly once a definitive position is issued by the Nigerian Shippers’ Council. We appreciate your understanding and continued cooperation,” the advisory added.
NSC had warned that prolonged industrial disputes within the maritime sector could disrupt port operations and negatively impact trade and economic activities.
By Adedapo Adesanya
The Minister of Works, Mr David Umahi, has announced that motorists would begin using a crucial 15-kilometre section of the Enugu–Onitsha highway during the Easter period, describing it as a special intervention to ease travel.
Mr Umahi made the disclosure while inspecting the project in Enugu, expressing satisfaction with the quality of work and reaffirming the government’s commitment to delivering immediate relief to road users.
According to him, the section will be opened for use by the end of March, even if final touches such as road markings and median curbs are yet to be completed.
“We have directed the contractor to ensure that this stretch is accessible within the stipulated timeframe as part of efforts to reduce the burden on commuters,” he said.
The Minister emphasised that beyond short-term relief, the project is designed to ensure long-term durability, noting that the highway remains one of the most strategic transport corridors in Nigeria’s South-East.
He observed that roads in the region have long suffered from heavy congestion, frequent accidents, and poor pavement conditions, expressing optimism that ongoing reconstruction will permanently address these challenges.
Umahi linked the renewed infrastructure push to the commitment of President Bola Tinubu to the development of the South-East, while also highlighting the scale of inherited challenges in the sector.
He revealed that the federal government met outstanding road liabilities estimated at over N13 trillion across more than 2,000 projects as of May 2023, a situation he said has strained project delivery nationwide.
While acknowledging that delayed payments have slowed contractors’ pace of work, Umahi expressed confidence that progress would improve once funding issues are resolved.
“You cannot expect optimal performance when contractors are unpaid, but we appreciate their continued cooperation and trust in government,” he added.
The minister also commended Enugu State governor, Peter Mbah, for supporting the project, particularly in handling compensation for affected residents around the Abakpa flyover axis of the Enugu–Abakaliki highway.
He noted that the state government also facilitated the relocation of key infrastructure, including high-tension power lines and water pipelines, to ensure smooth execution of the project.
On his part, the resident engineer for the Enugu–Onitsha highway project, Mr Lawrence Ubi, confirmed that the 15-kilometre stretch is about 95 per cent complete.
He assured that the work meets required engineering standards and will be ready for public use within the agreed timeline, while appreciating the federal government’s continued support.
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