House of Representatives is to make legislation aimed at expanding the scope of Bankers Employees Acts to check the excesses of financial institutions in Nigeria.
The Chairman House Committee on Financial Crimes, Alh Ibrahim Abdullahi Dutse, made this known in a chat with national Assembly Correspondents in his office Abuja.
Abdullahi Dutse said the committee had already gotten a referral from the House to expand the scope of the Bank Employees Act and Other Related Matters with a view to including employees of Banks, Insurance, and Lending Firms’ as well as increase the frequency of their assets declaration to annually.
He explained that in modern times, there had been a surge in the establishment of various forms of financial institutions in comparison with what was obtainable in the 1960s and 1980s when financial institutions were mostly banks but with the proliferation of insurance companies, mortgage banks, Pension Fund Administrators among others they equally require supervision like banks.
Alh Abdullahi Dutse maintained that the committee was expected to look at Clause 1 (1) of the Bill which seeks to compel employees of a bank to immediately declare their assets including those of their spouses and unmarried children under the age of 18years.
The Bill also amends the existing legislation by inserting a new Clause that attempts to ban bank employees from operating a personal bank account in any country outside Nigeria.
While stressing the National Assembly’s resolve to sanitize the country’s financial institution in line with its Legislative Agenda, Abdullahi Dutse said the amendment is to make the laws conform with the current realities in the country.
COV/TSIBIRI