The Economic and Financial Crimes Commission (EFCC), on Tuesday gave operators in the financial system especially bankers, a June 1, 2021 deadline to declare their assets.
EFCC Chairman, Abdulrashed Bawa, disclosed this while addressing State House correspondents after a meeting with President Muhammadu Buhari in Abuja.
Bawa explained the move, which is pursuant to the Bank Employees, ETC (Declaration of Assets) Act 1986, is part of measures to sanitise the nation’s financial system.
According to him, it will block some of the loopholes currently being exploited by unscrupulous players in the sector, to undermine the economy through money laundering and illicit financial flows.
Section 1 of the law makes it mandatory for every employee of a bank, to make full disclosure of assets upon employment and annually in subsequent years.