EFCC issued the directive after meeting with Buhari
Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), has directed all bankers and other expected operators in the financial system in Nigeria to declare their assets before June 1 2021.
The chairman of the commission, Abdulrasheed Bawa who gave the directive after a meeting with President Muhammadu Buhari in Abuja explained that the move is pursuant to the Bank Employees, (Declaration of Assets) Act 1986 which is part of measures to sanitise the nation’s financial system and block some of the loopholes currently being exploited by unscrupulous players in the sector to undermine the economy through money laundering and illicit financial flows.
He further explained that Section 1 of the law makes it mandatory for every employee of a bank to make full disclosure of assets upon employment and annually in subsequent years.
Bawa, who also expressed worry over youth’s involvement in cybercrime, appealed to parents to take a special interest in the activities of their children.