Nigeria: Reps Move to Compel Customs CG, Officers, Bankers to Declare Assets

The House of Representatives Thursday passed for second reading, a bill to amend the Bank Employees Declaration of Assets Act 2004.

The bill, sponsored by Abiola Shina Peller, provides for the declaration of assets by employees of banks operating in Nigeria and to empower the president to extend its application to other categories of persons.

Peller said: "The Act by virtue of section 12 also applies to the Comptroller-General, Deputy Comptroller- General, Assistant Comptroller General, principal collector, collector and other officers, staff or employee of the Nigeria Customs Service as they apply to a chief executive or an employee of a bank.

"The policy behind the Act was aimed at monitoring the activities of bank employees and customs officers to ensure that their life style reflect their earnings and discourage them from engaging in corrupt practices.

"While the Principal Act applies to only employees of banks and Customs Service, the bill seeks to extend the application of the Act to employees of other financial institutions, pension funds agencies, insurance firms, stock brokers that have emerged as key players in the Nigerian financial sector over the years."

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