The National President, National Union of Banks, Insurance and Financial Institutions, Anthony Abakpa, disclosed on Wednesday that members of the union are not afraid to declare their assets as being required by the Economic and Financial Crimes Commission.

Recently, the Chairman of the EFCC, Abdulrasheed Bawa had said that the commission would from June 1 be demanding the asset declaration from bankers. This development is said to be in compliance with the Bank Employees (Declaration of Assets) Act 1986 which stipulates 10 years jail term for anyone found guilty by any Federal High Court.

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Speaking on the position of bankers on the directive which took effect from Tuesday, Abakpa said workers in the banking sector were guided by the principle of integrity, transparency and honesty. He added that they were not threatened by the pronouncement of the EFCC.

He said, “Bankers are not afraid to declare their assets whatever it is, since they don’t have anything to hide.”
Responding to question on whether the union was considering going to court to stop the enforcement of the directive, Abakpa said the union was not taking any action against the regulatory body.
“If we now say we should begin to take action, it will look as if we want to encourage those who are in the authority who have something to hide,” he added.

The president reiterated the position of the union on the asset declaration demand, saying the EFCC should focus its efforts on bank executives. It shouldn’t be all categories of staff members who are in the bank.