The
Central Bank of Nigeria has ordered workers in all the 19 Deposit Money Banks
in the country to declare their assets. The move analysts say looks like
the Federal Government is beginning to expand its ongoing anti-corruption
crusade to the private sector, especially the banking industry.
The
directive, which came in a letter through the Banking Supervision Department of
the CBN to all the 19 commercial banks in the country about four weeks ago, gave
bank officials only one week to complete the assets declaration process,
sources close to the DMBs said.
As
of Thursday, investigation revealed that all the staff members of Ecobank
Nigeria, First City Monument Bank Limited and Fidelity Bank Plc,zenith bank had complied with the directive.
Top
officials of Ecobank, Fidelity Bank ,Zenith Bank and FCMB, among others,
confirmed the development. The workers said there was a directive from their
management asking them to comply within one week.
Narrating
his experience, a top official of one of the tier-1 banks, who spoke on
condition of anonymity because he was not authorised to speak on the matter,
said, “All our staff members, from the most junior to the most senior, were
asked to declare their assets through a court affidavit. It was handled by the
company’s lawyer.
“We
were asked to declare all our assets, including developed and undeveloped
parcels of land, properties, houses in Nigeria and outside Nigeria etc. We were
asked to also declare everything, including power generators at home. We
complied within one week.”
Top
bank executives said the move by the apex bank was not unconnected to the
Federal Government’s plans to extend its anti-corruption crusade to the private
sector.
It
was also gathered that fear had descended on bank workers, especially top
officials whose assets were beyond their means.
It
was learnt that the fear that the Economic and Financial Crimes Commission and
the Independent Corrupt Practices and Other Related Offences Commission might soon
begin the examination of the details of the assets declaration forms vis-à-vis
the properties some top banker own.
Some
top bankers, who own huge assets, it was gathered, were panicky on how they
would be able to justify the huge assets in their names should the EFCC and
ICPC come knocking on their doors.
Commenting
on the assets declaration, an executive director in one of the top three banks,
said, “It is part of the ongoing anti-corruption crusade in the country. The
Federal Government is trying to deepen the anti-corruption war in the private
sector, and it is believed that the banking sector is a very critical sector.
This is why the CBN has been mandated to do this.”
Unconfirmed
sources at the CBN said the directive followed a letter from the Code of
Conduct Bureau asking the central bank to direct all bank employees to declare
their assets with immediate effect.
“The
directive is from the Code of Conduct Bureau. It is an extant rule. Before now,
most people have not been complying. So the CCB wrote a letter to the CBN
reminding it about it. This is why the CBN had to write the banks to comply,” a
top official of the apex bank told our correspondent on condition of anonymity.
The
spokesperson for the CCB, Mr. Muhammed Idris, did not respond to calls or a
text message sent to his mobile telephone.
However,
independent findings showed that the CCB’s scope of operations covers only
political officeholders.
By
law, the CCB is mandated to distribute assets declaration forms to the general
public.
The
Acting Director, Corporate Communications, CBN, Mr. Isaac Okoroafor, said the
assets declaration was not a directive of the apex bank but a statutory
requirement in line with the Bank Employees’ Declaration of Assets Act of 1986.
Asked
why the CBN was enforcing its compliance at the moment, he said, “Why not now?”
The
Bank Employees Declaration of Assets Act Cap B1 Laws of the Federation of
Nigeria, 2004 provides for asset declaration by all bank employees.
The
Act also empowers the President to extend the application of the law to other
categories of persons.
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