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  • Home
  • Anti-Corruption
    • Chairman EFCC Abdulrasheed Bawa

      Anti-graft War: EFCC Wants All Nigerians on Board – Bawa

      Chairman EFCC Abdulrasheed Bawa

      Again, EFCC Raises Alarm Over Fake Bawa Twitter Account

      EFCC Witness Owns Kaduna Hotel Linked to Dasuki

      EFCC Chairman Abdulrasheed Bawa

      ICPC, FIRS Seek Collaboration with EFCC in Tackling Corruption

      court Judiciary

      Court Convicts 11 Internet Fraudsters in Port Harcourt

  • Government
    • UNIABUJA Engages in Transparent Admissions- University Replies JAMB

      FG Reacts to Power outages Nationwide

      Nigerian Senate Confirms Dr. Shaba as DG of Space Agency NASRDA

      Peter Afunaya DSS Spokesperson

      We Didn’t Arrest or Torture President’s Driver- DSS

      PRNigeria Digital Seminar in Kano

      Northern Nigeria Still Lagging Behind in ICT

  • Economy
    • Azman Air: Over 1,000 Staff Affected, N80m Revenue Lost Daily with…

      EFCC Chairman Abdulrasheed Bawa

      EFCC Gives All Nigerian Bankers Deadline to Declare their Assets

      imported rice

      Nigeria Customs Service Raises Alarm over Massive Foreign Rice Smuggling

      Wesley Edirin

      NCBN Boss, Jerry Wesley Edirin, Dies in Abuja Health Facility

      Himma Bata ga rago

      Exploring Resources for Socio-Economic Development of Jigawa North-East Senatorial Zone

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      Dr Isa Pantami, Minister of Communication nad Digital Economy

      I Don’t Hold Extremist Views, Nor Support Boko Haram -Pantami

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      Dr Isa Pantami, Minister of Communication and Digital Economy

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    • Bandits in violence terrorism

      Bandits kill three in Kajuru, Kaduna

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      Before We Throw Pantami Under the Bus

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      Chief of Army Staff Lt General Ibrahim Attahiru

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      Averting Implosion in 2023, By Afakirya A. Gadzama

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      Bandits kill three in Kajuru, Kaduna

      Gov Abdulrahaman abdulrazak of Kwara

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      Himma Bata ga rago

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Home Economy EFCC Gives All Nigerian Bankers Deadline to Declare their Assets
  • Economy

EFCC Gives All Nigerian Bankers Deadline to Declare their Assets

By
Wilson Uwujaren
-
March 16, 2021
EFCC Chairman Abdulrasheed Bawa
EFCC Chairman Abdulrasheed Bawa

EFCC Gives All Nigerian Bankers Deadline to Declare their Assets

The Economic and Financial Crimes Commission, EFCC, has said that it expects all operators in the Nigerian financial system especially bankers to declare their assets latest June 1, 2021. The Commission’s Executive Chairman, Abdulrashed Bawa, dropped this hint today March 16, while speaking with journalists at the State House, Abuja after a meeting with President Muhammadu Buhari.

The EFCC boss said the move which is pursuant to the Bank Employees, ETC. (Declaration of Assets) Act 1986, is part of measures to sanitize the nation’s financial system and block some of the loopholes currently being exploited by unscrupulous players in the sector to undermine Nigerian economy through money laundering and illicit financial flows.

Section 1 of the Bank Employees, ETC. (Declaration of Assets) Act 1986 makes it mandatory for every employee of a Bank to make full disclosure of assets upon employment, and annually in subsequent years.

The law under Section 7 (1) stipulates that “It shall be an offence for an employee of a bank to own assets in excess of his legitimate known and provable income”.

The penalty for violation of the Act, as spelt out in section 7(2) includes imprisonment for a term of ten years; “Any employee guilty of an offence under subsection (1) of this Section shall on conviction be liable to imprisonment for ten years and shall, in addition, forfeit the excess assets or its equivalent in money to the Federal Government”

Bawa who also expressed worry about youth involvement in cybercrime, however appealed to parents to take special interest in the activities of their children. According to him, parents have a responsibility to ensure that they nurture their children with the right set of values to ensure that they are not easily swayed by the allure of easy money through fraud and cybercrimes. He added that youths must learn that there is no shortcut to enduring wealth.

Wilson Uwujaren

Head, Media & Publicity

16 March, 2021

  • TAGS
  • Asset Declaration
  • efcc
  • Nigerian Bankers
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  • Home
  • Anti-Corruption
    • Chairman EFCC Abdulrasheed Bawa

      Anti-graft War: EFCC Wants All Nigerians on Board – Bawa

      Chairman EFCC Abdulrasheed Bawa

      Again, EFCC Raises Alarm Over Fake Bawa Twitter Account

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      Peter Afunaya DSS Spokesperson

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  • Economy
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      EFCC Chairman Abdulrasheed Bawa

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