EFCC Demands Asset Declaration From Bank MD’s, Other Executives

The Economic and Financial Crimes Commission has instructed all Managing Directors of banks, their deputies and Executive Directors to fill and submit asset declaration forms.

According to Nation, it was learnt that the bank top executives have up to two weeks to do so or they would risk 10-year jail term. 

The top executives were the first on the list of bankers expected to declare their assets. 

According to a top source, the directive to the Managing Directors, Deputy Managing Directors and Executive Directors is contained in a June 1, 2021, letter to them. 

The source said, “In line with the decision of the Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa to demand the asset declaration forms filed by bankers beginning from June 1, 2021, the commission has demanded the asset declaration forms of the executive management of all banks in the country.

“The request for the asset declaration forms of the top executives of banks is contained in a letter to the managing directors of the banks dated June 1, 2021.

“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.

“Violators of the law risk imprisonment for a term of up to ten years.”