EFCC Has Power To Investigate Assets Declaration of Bank Employees

By O. G. Chukkol

There are arguments everywhere from lawyers regarding the
comments by the new EFCC Chairman, Abdulrasheed Bawa, giving bank
employees in Nigeria till the 1st of June, 2021 to declare their
assets in accordance with the Bank Employees, etc. (Declaration of
Assets) Act, 1986.

Actually section 1 (2) of the above law mandates bank employees
to declare their assets. And by section 3 (2) and 14 of the Act,
such assets declaration forms are to be submitted to Secretary to
the Federal Government or any person designated by him through an
Instrument published in a Federal Government Gazette.

The SGF is empowered by section 6 of the Act to cause to be
verified every Declaration of Assets Form and Annual Assets
Declaration Form and may direct that a thorough investigation
should be conducted into the assets and activities of the employee
concerned including the assets and activities of his spouse, child,
relative, parent, associate or privy.

The question now is whether EFCC has power to investigate assets
declaration of bank employees. In other words, does it mean that is
only SGF that is exclusively empowered to investigate assets
declaration forms of bank employees?

Without going into long argument, it is my view that EFCC has
power to investigate such cases.

By Section 7 (b), (c), (e), (j) (ii)(vi), (I), (m), and (n) of
the EFCC Act, EFCC is the EFCC is empowered to investigate
financial crimes. Crimes relating to Asset declaration are also
financial crimes within the meaning assigned to them by section 46
of the EFCC Act.

For the avoidance of doubt, section 7 (1) of the Bank Employees
Declaration of Assets Act provides that “It
shall be an offence for an employee of a Bank to own assets in
excess of his legitimate, known and provable income and
assets”

Section 8(1) of the Act also criminalize knowingly failing to
make full disclosure of the assets and liabilities; and knowingly
making a declaration that is false, knowing same to be false in
part or in whole.

Are the foregoing not financial crimes?

I read a publication of TheNigerialawyer? efcc-has-no-jurisdiction-over-bank-employees-declaration-of-assets/^[1]
 where Mr. Douglas Ogbankwa, Esq. beautifully argued that the
Bank Employees Assets Declaration Act was enacted in 1986 when EFCC
was not in existence therefore the Commission was not contemplated
as an agency that can investigate bank employees who fail to
declare assets. This is quite a logical and sound argument.
However, I find myself unable to agree with him. In fact, by making
reference to the fact that the Bank Employees Act is an old law
made since 1986, the implication is that EFCC Act is superior being
the latest in time.

In Allan v FRN (2017) LPELR-42310(CA), the
court held that section 3 of the Territorial Waters Act, 1967 was
inferior to the provisions of sections 6(n), 7(2), 13(2) and 42 of
the E.F.C.C. Act because the EFCC Act was the latter in time and
therefore the E.F.C.C. does not require the consent or fiat or
certificate of the Attorney-General of the Federation to institute
a charge against a foreigner, the Appellant.

By way of conclusion, it is submitted that the EFCC is empowered
to enforce numerous laws including the Bank Employees Assets
Declaration Act.

O. G. Chukkol, ACIArb (UK) is a student,
Faculty of Law, ABU, Zaria and may be reached via 08032470318 or
oliverchukkol@gmail.com^[2]

By O. G. Chukkol

There are arguments everywhere from lawyers regarding the
comments by the new EFCC Chairman, Abdulrasheed Bawa, giving bank
employees in Nigeria till the 1st of June, 2021 to declare their
assets in accordance with the Bank Employees, etc. (Declaration of
Assets) Act, 1986.

Actually section 1 (2) of the above law mandates bank employees
to declare their assets. And by section 3 (2) and 14 of the Act,
such assets declaration forms are to be submitted to Secretary to
the Federal Government or any person designated by him through an
Instrument published in a Federal Government Gazette.

The SGF is empowered by section 6 of the Act to cause to be
verified every Declaration of Assets Form and Annual Assets
Declaration Form and may direct that a thorough investigation
should be conducted into the assets and activities of the employee
concerned including the assets and activities of his spouse, child,
relative, parent, associate or privy.

The question now is whether EFCC has power to investigate assets
declaration of bank employees. In other words, does it mean that is
only SGF that is exclusively empowered to investigate assets
declaration forms of bank employees?

Without going into long argument, it is my view that EFCC has
power to investigate such cases.

By Section 7 (b), (c), (e), (j) (ii)(vi), (I), (m), and (n) of
the EFCC Act, EFCC is the EFCC is empowered to investigate
financial crimes. Crimes relating to Asset declaration are also
financial crimes within the meaning assigned to them by section 46
of the EFCC Act.

For the avoidance of doubt, section 7 (1) of the Bank Employees
Declaration of Assets Act provides that “It
shall be an offence for an employee of a Bank to own assets in
excess of his legitimate, known and provable income and
assets”

Section 8(1) of the Act also criminalize knowingly failing to
make full disclosure of the assets and liabilities; and knowingly
making a declaration that is false, knowing same to be false in
part or in whole.

Are the foregoing not financial crimes?

I read a publication of TheNigerialawyer? efcc-has-no-jurisdiction-over-bank-employees-declaration-of-assets/^[1]
 where Mr. Douglas Ogbankwa, Esq. beautifully argued that the
Bank Employees Assets Declaration Act was enacted in 1986 when EFCC
was not in existence therefore the Commission was not contemplated
as an agency that can investigate bank employees who fail to
declare assets. This is quite a logical and sound argument.
However, I find myself unable to agree with him. In fact, by making
reference to the fact that the Bank Employees Act is an old law
made since 1986, the implication is that EFCC Act is superior being
the latest in time.

In Allan v FRN (2017) LPELR-42310(CA), the
court held that section 3 of the Territorial Waters Act, 1967 was
inferior to the provisions of sections 6(n), 7(2), 13(2) and 42 of
the E.F.C.C. Act because the EFCC Act was the latter in time and
therefore the E.F.C.C. does not require the consent or fiat or
certificate of the Attorney-General of the Federation to institute
a charge against a foreigner, the Appellant.

By way of conclusion, it is submitted that the EFCC is empowered
to enforce numerous laws including the Bank Employees Assets
Declaration Act.

O. G. Chukkol, ACIArb (UK) is a student,
Faculty of Law, ABU, Zaria and may be reached via 08032470318 or
oliverchukkol@gmail.com^[2]