Pension fund scam: Court grants Maina N1bn bail

The Federal High Court, Abuja, on Monday, admitted Abdulrasheed Maina, former Chairman, defunct Pension Reform Task Team (PRTM), to a bail in the sum of N1 billion.

Justice Okon Abang, who gave the ruling, also ordered that Maina must produce two sureties who must be serving senators.

The two lawmakers, according to the judge, must not be standing any criminal trial in any court in the country.

He also ruled that the two sureties, who must be prepared for a N500 million bond each, must always be in court with the defendant at each adjourned date.

The ex-pension reform boss is standing trial on alleged money laundering charge involving over N2 billion preferred against him by the EFCC,

The News Agency of Nigeria (NAN) reports that Maina, who came into Court 6 at the 2nd Floor of the building at about 9:40am, supported himself with a walking stick.

Justice Abang had, on Nov. 21, fixed Monday for hearing on the bail application and for continuation of Maina’s trial.

The judge accused the Nigerian Correctional Services (NCS) of compounding the issue before the court by failing to produce a medical report on Maina’s health status days after the order to that effect was made.

He ruled that the trial would be on a day-to-day basis in subsequent proceedings.

NAN recalls that Maina’s trial was stalled in the last adjourned date due to his worsening health condition.

The EFCC had on Oct. 25, charged the defendant before the court alongside his firm, Common Input Property and Investment Ltd.

He pleaded not guilty to the 12-count charge and his trial has yet to make meaningful progress due to his failing health.