The Economic and Financial Crimes Commission (EFCC) has written to banks demanding the asset declaration forms of their top executives.
The chair of the commission, Abdulrasheed Bawa, had in March issued a June 1 ultimatum for bankers to start declaring their assets.
Mr Bawa had said the directive was in line with the Bank Employees, ETC. (Declaration of Assets) Act 1986, enacted to ensure adequate measures in sanitising the nation’s financial system.
A commission official and a top source in the EFCC told PREMIUM TIMES on Friday that the commission had written a letter dated June 1, 2021 to the banks, demanding their managing directors, deputy managing directors and executive directors, to declare their assets.
“The request for the assets declaration forms of the top executives of banks is contained in a letter to the managing directors of the banks dated June 1, 2021,” the source said.
The source added, “listed among the officers whose assets declaration forms are expected by the Commission are managing directors, deputy managing directors and executive directors of all the banks.
“The request is pursuant to the Bank Employees, etc. (Declaration of Assets) Act, 1986, which mandates bankers to declare assets upon employment and annually thereafter.”
The commission had warned that the violators of the law risk imprisonment for a term of up to 10 years.
Mr Bawa had while announcing the directive in March said the commission had discussed it the banks and expressed hope that “all financial institutions, particularly the bankers, will declare their assets as provided for by the law, in accordance with the Bank, Employees Declaration of Asset Act.”
He added that action would also help to block some of the loopholes being exploited by unscrupulous players in the sector to undermine the Nigerian economy through money laundering and illicit financial flows.
EFCC spokesperson, Wilson Uwujaren, confirmed to our reporter that the commission had written the letters to the banks.
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