There is a growing sense of dismay among bank employees following Central Bank, CBN’s directive on compulsory asset declaration for bank workers.
A banking source confirmed to OrijoReporter that the CBN’s directive came on the heels of overwhelming evidence of financial fraud among bank workers.
The source said: “After the BVN’s completion, all financial transactions of bank workers were in the open. The findings were mind-boggling, revealing how many managerial staff, top and middle levels managers live above their incomes.”
Information available to us revealed that recently the CBN wrote a circular to commercial banks in which the apex bank directed all bank employees including drivers and cleaners to declare their assets.
CBN’s order according to findings is to enforce the Bank Employees Declaration of Assets Act enacted in 1986, which mandates bank workers to declare their assets every year, and new employees fourteen days after employment.
“Any employee affected by this Act who‐ knowingly fails to make full disclosure of the assets and liabilities required to be made under this Act…shall be liable to ten years imprisonment,” the provision of the act says.
“Any person who- acts as a front for an employee of a Bank or does or omits to do anything or acts in a manner likely to defeat the objects of this Act; or (b) unlawfully acquires, disposes, operates, owns or retains any assets for or on behalf of any employee of a Bank, commits an offence under this Act and shall be liable on conviction to imprisonment for seven years,” the act says further.
However, consistently the act was not enforced, and encouraged the impunity in the banking sector.
Speaking on the development, a banker with one of the new generation banks who spoke on the condition of anonymity told our correspondent that he was in possession of his asset declaration form, adding it has sent shivers down most bankers’ spines.