The two billion naira (N2bn) fraud trial against Abdulrasheed Maina, former chairman of the Pension Reform Task Team (PRTT), before Justice Okong Abang of the Federal High Court, Abuja, resumed on Tuesday.
Rouqayyah Ibrahim a detective with the Economic and Financial Crimes Commission (EFCC) said Maina operated companies with N3billion net worth that engaged in nothing.
The witness said EFCC found that the defendant bought two houses in Abuja, at the cost of $3.4 million, one of which is in Jabi.
The purchases were made in the name of Common Input for $2million cash from one Adamu Modibbo (now late), using his account officer, Khalid Biu to pay.
The other, purchased in the name of one Dr. Abdullahi Faisal at the cost of $1.4million, was also paid in cash in the name of Khalid Biu.
Ibrahim said an investigation was carried out to determine if the defendant or his associates companies concealed incomes that were not accounted for and to determine if the defendant was benefiting.
candidreporters.com gathered that EFCC discovered Maina’s net worth ran contrary to his declared assets.
Ibrahim recalled that EFCC wrote to the Corporate Affairs Commission (CAC) and Federal Inland Revenue Services (FIRS) concerning the companies linked to Maina.
According to findings, the companies were mere briefcase companies and were not involved in any business, let alone a legitimate one, even though the collective turnover in their accounts were almost N3billion.”
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