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Witness Revealed How N1.5Bn Was Transfered To Maina’s Private Account From The N14Bn Stolen From Pension Account

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The trial in absentia of Abdulrasheed Maina, former Chairman, Pension Reform Task Force Team, (PRTFT) continued on Wednesday, November 25, 2020 before Justice Okong Abang of the Federal High Court, Abuja.

The Economic and Financial Crimes Commission, EFCC is prosecuting Maina, alongside his firm, Common Input Property and Investment Ltd on 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 Adegbite told the court of his intention to disengage as the company’s counsel, but even 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 Adegbite remained 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, who 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, totaling N94 million was discovered during the cause of the verification, and that 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 Oransanya as the Head of Service, in which it turned out that Mr. Oransanya 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. In the five modus operandi was 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 association 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.

According to him, 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.

According to the witness, “We also discovered that Frederick Hamilton Ltd, owned by Osa Afe, presently standing trial with Steven Oransanya 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 document 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 matter till December 3, 2020 for the continuation of trial.

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Adeleke swears in new Osun LG chairs, urges good governance

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Osun State Governor, Senator Ademola Adeleke, on Sunday, inaugurated the newly elected local government chairmen and councillors in the Saturday poll.

Adeleke urged them to focus on good governance while warning against any attempt to forcibly occupy council secretariats.

He also expressed gratitude to President Bola Tinubu for resisting attempts by some forces to destabilise Osun State.

Speaking at the swearing-in ceremony in Osogbo, the governor described the occasion as a major milestone in the state’s democratic process, emphasising that the election was conducted in line with due process.

“We are here to conclude a democratic process for which we all laboured so hard to achieve,” Adeleke said.

Before proceeding with his address, the governor called for a minute of silence in honour of those who lost their lives during the “illegal APC takeover of local government secretariats.”

The governor recounted the journey leading to the local government election, stating that the Osun State Independent Electoral Commission had duly followed all legal procedures.

“The state electoral body had issued due notice of election a year ago. I know the commission had complied with all extant rules and procedures which led to the emergence of new local government chairmen and councillors,” he stated.

While acknowledging the legal controversies surrounding the election, Adeleke affirmed that his administration acted within the ambit of the law.

“It is, however, a thing of joy that the facts are out in the public domain, and we are satisfied that we are on the side of the law within the context of the rule of law and the constitution,” he added.

Call for Good Governance….

Addressing the newly sworn-in officials, Adeleke charged them to be “agents of change, community developers, and deliverers of the dividends of democracy.”

“You have the mandate to deliver on good governance in your respective local governments.

“I charge you to develop plans of action within the manifesto of the Peoples Democratic Party (PDP).

“As our government is transforming the state for the better, I call on you to be agents of change,” he said.

The governor also appreciated the people of Osun for their steadfast support, assuring them that his administration would remain committed to their welfare.

“Osun people demonstrated courage and passion to exercise their voting rights, and they did so by massively supporting our party despite all the constraints. We will not fail you. People’s welfare will continue to be our watchword,” he promised.

Adeleke commended OSIEC, security agencies, and state officials for ensuring the success of the election.

Appreciation to Tinubu

In a significant moment, the governor expressed gratitude to President Bola Tinubu for resisting attempts by some forces to destabilise Osun State.

“I should not end this address without acknowledging the contributions of Mr. President, Senator Bola Ahmed Tinubu.

“I am most grateful to Mr. President for rejecting efforts by some forces to plunge Osun into chaos,” Adeleke stated.

He reaffirmed his commitment to upholding the rule of law and the constitution in governance and conflict resolution.

Warning Against Forced Takeover
The governor strongly advised the newly elected chairmen and councillors to avoid confrontation at local government secretariats, citing an ongoing legal process to resolve the leadership crisis.

“I urge you and your councillors to please stay away from the council secretariats to avoid any clash with those whom the police had aided to forcefully occupy the local government secretariats,” Adeleke cautioned.

He referenced an Osun State High Court ruling that had affirmed vacancies in both chairmanship and councillorship positions before the election on February 22, 2025, assuring that his administration would rely on the judiciary to remove those illegally occupying the secretariats.

“Please be patient and always abide by the rule of law,” he advised.

With that, Adeleke formally declared the swearing-in of the elected local government officials.

“It is on this note that I, Senator Ademola Jackson Nurudeen Adeleke, the Executive Governor of Osun State, hereby effect the swearing-in of elected local government chairmen across Osun State. Congratulations and God bless you,” he concluded.

 

 

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Alcohol, tobacco record highest inflation rate

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The National Bureau of Statistics has disclosed that alcoholic beverages, tobacco, and narcotics recorded the highest inflation rate at 14.80 per cent, according to its latest rebased Consumer Price Index for January 2025.

In a graphical illustration presented in its CPI report, the NBS noted that the alcohol and tobacco item division was followed by restaurants and accommodation services, which had an inflation rate of 14.14 per cent, while transport and clothing and footwear recorded 12.77 per cent and 12.73 per cent, respectively.

The report, which rebased Nigeria’s CPI to 2024 as the new base year, revealed that headline inflation stood at 24.48 per cent in January 2025, meaning that the general price level of goods and services rose significantly compared to the same period in 2024.

The report by the NBS read, “The rebased All Items index in January 2025 was 110.68, while the headline inflation rate on a year-on-year basis stood at 24.48 per cent in January 2025.

“This means that the general prices of goods and services in Nigeria increased by 24.48 per cent compared to January 2024.”

The CPI rebasing was necessary to reflect current economic realities and consumption patterns in Nigeria.

The rebased CPI structure covers 934 product varieties, classified under 13 divisions based on the 2018 Classification of Individual Consumption According to Purpose.

The divisions include food and non-alcoholic beverages, clothing and footwear, transport, housing and utilities, furnishings, health, communication, and education, among others.

The weighting structure was adjusted to account for changes in consumer spending, with food and non-alcoholic beverages maintaining the highest weight at 40 per cent, although it declined from 51.8 per cent in the previous base year of 2009.

According to the report, inflationary pressures varied across different categories, with food and beverages inflation at 10.64 per cent, reflecting the continued rise in staple food prices.

The personal care, social protection, and miscellaneous goods and services division recorded 12.04 per cent inflation, while furnishings, household equipment, and routine household maintenance saw an inflation rate of 11.48 per cent.

The health sector recorded 9.42 per cent inflation, while housing, water, electricity, gas, and other fuels increased by 7.61 per cent.

The education sector and insurance and financial services recorded the lowest inflation rates, standing at 4.88 per cent and 4.65 per cent, respectively. Information and communication, which was newly assigned a higher weight in the rebased CPI, had an inflation rate of 7.54 per cent.

The recreation, sport, and culture category recorded 6.85 per cent, highlighting moderate price increases in these services.

The NBS report highlighted the divergence in inflation trends between urban and rural areas, with urban inflation at 26.09 per cent, while rural inflation stood at 22.15 per cent.

This suggests that price pressures were more severe in urban areas, particularly in sectors such as housing, transportation, and restaurant services, where cost increments were more pronounced.

The rebasing exercise introduced new methodologies to enhance the accuracy of inflation tracking.

Data collection was fully digitised, replacing paper-based surveys with computer-assisted personal interviewing devices, which allowed real-time transmission and verification of price data.

The high inflation rate for alcoholic beverages and tobacco is linked to multiple factors, including excise duties, exchange rate volatility, production costs, and supply chain disruptions.

We further observed that Imo State emerged as the most expensive state to reside in Nigeria following the rebasing of the Consumer Price Index by the NBS.

The development marked a significant shift in Nigeria’s inflation rankings, as Bauchi, which held the top spot for seven consecutive months, was dethroned.

The change comes after the NBS updated its methodology, adjusting the base year from 2009 to 2024, revising the weighting structure, and expanding the consumer basket to better reflect household spending patterns.

Earlier, the Statistician-General of the Federation and Chief Executive of the NBS, Prince Semiu Adeyemi, said, “Rebasing our GDP and CPI allows us to align with these transformations, providing a more precise and relevant picture of Nigeria’s economic landscape.

“This process is foundational to informed policymaking, strategic planning, and effective governance; hence, it is one exercise that the NBS is conducting with significant importance and professionalism.”

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Fire guts MTN booster station in Oyo

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An MTN booster station located on the premises of the University of Ibadan, Oyo State, was gutted by fire on Saturday.

Our Investigations revealed that the fire, which broke out at the booster station within the Faculty of Nursing, was caused by an electrical surge.

One of the witnesses told our correspondent that “the incident occurred in the early hours of Saturday around 4 am.”

Another source said, “The incident affected the Mikano electrical generator, board, and other telecommunications gadgets in the booster station.”

When contacted in Ibadan, the state capital, the Special Adviser on Fire Services Reform to Governor Seyi Makinde and Chairman of the State Fire Services Agency, Moroof Akinwande, confirmed the incident.

He said the booster station belonged to the MTN.

He said, “The state Fire Service’s prompt response doused the fire at the MTN booster station beside the Faculty of Nursing, University of Ibadan.

“The fire incident was reported exactly at 04:00 hrs on Saturday, February 22, 2025.

“The fire personnel, led by ACFS Olubunmi, were promptly deployed to the scene and arrived on time.

“On arrival, we met the Mikano electrical generator and board on fire. We quickly joined hands with the university’s fire marshals, and the fire was extinguished completely. The fire was caused by an electrical surge”, he explained.

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