Why EFCC Arrested Two Bankers Over Pension Fund Fraud

The case brought against the former chairman of the Pension Reform Task Team, Abdulrasheed Maina, ‎ by the Economic and Financial Crimes Commission has taken a new twist with the arrest of two bank staffers on Thursday, October 22.

Abdulrasheed Maina

According to Premium Times, the commission nabbed the two bankers with Fidelity Bank for allegedly aiding Maina, to launder stolen funds.

The report discloses that the two bankers are: Danjuma Zubairu, the group head of private banking and Abubakar Gwambe, an account head.

The commission stated on Friday, October 23, that it traced N2.8 billion to numerous bank accounts used by the former pension chairman.

However, a source familiar with the matter said on Friday, October 23, disclosed that the two bankers were said to have been managing proxy accounts for Maina who had been charged by the anti-graft commission for stealing billions of naira through a phony biometric exercise alongside Steve Oronsaye, the former head of service of the federation.

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In its statement, the commission said: “The accounts which have over time witnessed massive inflow of slush funds include two corporate and three individual accounts.

“The first individual account opened in the name of Abdullahi Faizer, had a turnover of N1.5billion while the other operated in the name of Nafisatu Aliyu recorded a turnover of over N100, 000.

“The corporate accounts of Cluster Logistics had a turnover of N500million and $400, 000 USD. Drew Investment and Construction and Kongolo Dynamics Cleaning Limited recorded turnovers of N54million and N509million respectively.”

All the five accounts, according to the EFCC, had different opening packages.

The commission further said that four of the accounts were allegedly opened by one Khalid Aliyu who happened to be a relation of Maina and was an employee of the bank. It said that Khalid is currently at large.

In its investigation, the commission disclosed that it established that Abdulrasheed Maina is the same one person operating all the accounts.

Competent sources in the anti-graft agency disclosed that the nexus between Mr. Maina and the accounts was established through a detailed analysis of telephone text messages and email communications between Mr. Maina and the bank officials.

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The bulk of the monies, it was gathered, had been moved through some Bureau de Change operators who convert them into dollar and transfer to Mr. Maina, who is believed to be hiding in the United Arab Emirates.

Having trailed Maina for several years, the anti-graft agency arrested his secretary, Ann Igwe, in July. It was reported that the secretary had provided useful information which led to the charges filed against the former pension chairman in absentia,

Igwe had reportedly confessed‎ on how the biometric contract allegedly awarded to streamline pension administration under Maina actually became a conduit for stealing pension fund.

Meanwhile in a bid to further buttress its case against Alhaji Sule Lamido, a former governor of Jigawa state, the EFCC had on Wednesday, October 21, presented four witnesses to testify against him on a 27-count charge alongside his two sons Aminu Sule Lamido and Mustapha Sule Lamido and two others.

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