Money Recovered By Maina Was Used To Fund 2012 Budget, Witness Tells Court

The trial of former Chairman of the defunct Pension Reform Task Team, Abdurasheed Maina, continued on Tuesday at the Federal High Court Sitting in Abuja.

During the proceedings presided over by Justice Okon Abang, a defence witness, Ngozika Ihuoma, continued his testimony which was in favour of the defendant.

He told the court that Maina recovered N282 billion in cash and 222 choice properties valued at N1.6 trillion.

Ihuoma explained that the said money was warehoused at the Central Bank of Nigeria (CBN) by the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

He disclosed that out of the money, N74 billion was used to finance the 2012 national budget, as passed by the then National Assembly.

The witness also told the court that a presidential directive was issued by former President Goodluck Johnathan that 2.5 per cent which amounted to N7.05 billion of the recovered money be used to run the PRTT’s official duties.

He, however, stated that the fund was never released despite several requests and reminders to the Ministry of Finance and the National Assembly.

After listening to the testimony of the witness, Justice Abang adjourned the case until March 4 for the continuation of the trial.

Maina is being prosecuted by the EFCC on charges of money laundering to the tune of N2 billion.