Media mogul, Dele Momodu, has kicked towards the decision by the Financial and Monetary Crimes Fee (EFCC) directing all bankers and different operators within the Nigerian monetary system to declare their belongings by June 1, 2021.
EFCC Chairman, Abdulrasheed Bawa, gave the order on Tuesday after a gathering with President Muhammadu Buhari.
The EFCC boss disclosed that the transfer grew to become vital to dam loopholes being exploited by unscrupulous gamers within the sector to undermine Nigerian financial system by cash laundering and illicit monetary flows.
Based on him, Part 1 of the Financial institution Workers, ETC. (Declaration of Property) Act 1986 makes it obligatory for each worker of any Financial institution to make full disclosure of belongings upon employment, and yearly in subsequent years.
The penalty for violation of the Act, as spelt out in part 7(2) contains imprisonment of ten years for bankers.
Reacting, Momodu urged the anti-graft company to start out declaration of belongings from authorities companies and politicians not banks.
Based on him, Nigeria just isn’t in a army regime and banks belong to non-public sector
His tweet learn: “Are we in a army regime? Why not begin with authorities companies and politicians? Banks belong largely to the personal sector.”