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Maina Conviction: Judge Indicts Fidelity, UBA Bank, Calls For Revocation of License

A Federal High Court Judge, Justice Okon Abang has called for the prosecution of United Bank for Africa (UBA) and Fidelity Bank Plc over aiding fraud.

Justice Abang made this call while delivering judgement in a case of N2bn fraud involving a former chairperson of the defunct Pension Reform Task Team (PRTT), Abdulrasheed Maina.

The judge noted that United Bank for Africa (UBA) and Fidelity Bank Plc which were used by Maina as “conduit” to defraud pensioners ought to have been charged alongside Maina.

“UBA and Fidelity Bank provided the channels with which the convict (Mr Maina) used in defrauding the federal government”

Justice Okon Abang held that their licences ought to have been withdrawn as the banks benefitted from the proceeds of illegal transactions.

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He said the banks abdicated their responsibilities by failing to carry out due diligence to establish the true identities of persons in whose names Mr Maina opened and operated the fictitious bank accounts.

The judge emphasized that Nigeria is in urgent need of national rebirth to address the prevalence of monumental financial fraud in Nigeria’s public sector.

Justice Abang said while the convict lived in opulence at the expense of pensioners, his victims died in penury in Nigeria.

The judge declared that the convict, through the assistance of UBA and Fidelity Bank Plc, deprived the pensioners that gave their all to this country in their youthful age, their legitimate earnings.

“Whereas the convict was feeding fat on their sweat faraway in Dubai, the United Arab Emirates (UAE), buying choice properties, driving bulletproof cars, living in affluence beyond his legitimate earnings.

“An abnormal situation requires drastic actions to send a message to those that believe in dishonesty to have a rethink; turn a new leaf, the judge held

Wahab Akinlade

Akinlade I. WAHAB is a dedicated journalist and the proprietor of I-WAHAB Media. He embarked on his career at Murhi International TV (MiTV) and subsequently joined Radio Nigeria as a Judicial Correspondent.With a profound interest in legal reporting, he currently holds the positions of Chairman at the National Association of Judicial Correspondents (NAJUC), Ikeja Branch, and Chairman at the Nigeria Union of Journalists (NUJ), Radio Nigeria Chapel.As the owner of I-WAHAB Media, he has successfully established Top Court News, a platform renowned for providing comprehensive coverage of court cases and legal developments, with the aim of promoting transparency within the judicial system.Akinlade's diligent work and unwavering commitment to ethical reporting have earned him immense respect within the Nigerian journalism community.

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