How DSS Perpetrated $150m Pension Fraud With Maina

Dss source:

The Nigerian State Security Service, SSS, is involved in an unholy dalliance with Abdulrasheed Maina, the former chairman of the Presidential Task Force on Pension Reforms, Premium Times reports.

According to the paper, SSS, who prefer the label DSS, are providing shelter for the ex-pension boss who is wanted for fraud by the Economic Financial Crimes Commission, EFCC.

While serving as chairman of the pension task force, Mr. Maina, using his banker sibling, Khalid Ali Biu, opened a corporate bank account in the name of Cluster Logistics Limited domiciled at Fidelity Bank in 2011.

Mr. Biu, who was a staff of the bank, was both the bank’s account officer as well as a director of the fictitious company, according to bank and company registration documents sighted by this newspaper.


Bank papers, including mandate card for the Cluster Logistics account also identified Mr. Maina as a signatory to the account.

Investigators said the account had over N500 million cash inflow that were mostly cash deposits made between 2011 and 2013.

Among deposits into the accounts were three payments made over a period of one year by the Department of State Services (DSS).

Bank documents show that the security outfit paid a total of over N152 million.

The first tranche of over N61 million was paid on November 16, 2011 and the last made on November 14, 2012.

One of the deposits shows that it was made in the name of “DSS Pension Biometrics”.

It is unclear if Cluster Logistics offered any services to the SSS to warrant any payment.


Written by PH

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