Protests Greet EFCC Asset Declaration Order To Banks

The recent ‘declare your assets order’ to bank workers by the
Economic and Financial Crimes Commission (EFCC) has continued to
raise dust with stakeholders faulting the policy.

Bankers under the aegis of the Association of Senior Staff for
Banks, Insurance and other Financial Institutions (ASSBIFI) and
National Union of Banks, Insurance and Financial Institutions
Employees (NUBIFE) say the anti-graft should focus on the managing
directors of banks and other agencies of government instead of the
junior workers.

The new EFCC Chairman, Abdulrasheed Bawa, had last Tuesday
announced that the Commission would from June 1 be demanding the
asset declaration forms of bankers.

Bawa explained that the decision was in line with the provisions
of the Bank Employees Declaration of Asset Act.

Speaking yesterday, the President, Association of Senior Staff
for Banks, Insurance and other Financial Institutions (ASSBIFI),
Comrade Oyinkansola Olasanoye, said the anti-graft agency was
merely playing to the gallery.

He said: “As bank workers, we do not have any issue with the
EFCC investigating the banks but asking bank workers to declare
their assets is just trying to enforce an order already in
existence.

“Every year, bank workers declare their assets by filling a form
which is sent to the CBN for scrutiny. We have been doing that for
almost five years now.

“So, for the EFCC Chairman to now wake up and ask the same of us
is only an admission the EFCC is not doing its work.

“EFCC has the right to investigate the top management and board
of directors of banks but ordinary workers who are diligently
carrying out their responsibilities as professionals should be
exempted.”

On the possibility of challenging the order in court, the
ASSBIFI boss said the union is watching events as they unfold and
would decide on the next line of action if need be.

Echoing similar sentiments, the Deputy General Secretary,
NUBIFIE, Sola Aboderin, said: “We are not against any policy of the
government to checkmate fraudulent activities either in the
financial institutions or the country as a whole.

“But what we are concerned about is why single out banks? What
about the Nigerian Ports Authority, NNPC (Nigerian National
Petroleum Corporation) and other organisations?

“Why are they particular about banks? We are not saying they
should not check the illegality in the transfer of funds but why
focus on banks?”

“Another thing is that they said bank workers. Now, who are the
bank workers? They should go to CBN (Central Bank of Nigeria) and
ask who are the bank workers? The CBN has said that about 90 per
cent of those working in banks are not bank workers.

“So, if you are saying tellers, marketers and others are not
bank workers, then fine. In that case, they (EFCC) should focus on
the MDs (managing directors) of banks.”

He added: “I’m telling you that if you enter into the branch of
any bank today, hardly will you find more than three or four people
working as real staff of the bank. The rest are outsourced
staff.

Also reacting to the EFCC’s order, Mazi Okechukwu Unegbu,
lawyer, arbitrator and stockbroker said the agency was merely
grandstanding.

Unegbu who is former President/Chairman of the Council of the
Chartered Institute of Bankers of Nigeria (CIBN), acknowledged that
most banks these days are peopled mostly by outsourced workers who
work on an ad hoc basis.

The onetime Chairman/Chief Executive at Broad Bank and Citizens
Bank (both defunct) said asking such a category of bank staff with
little or no stake in the business to declare their assets was a
clear waste of time and resources.

The EFCC, Unegbu maintained, must step up its investigative
processes and put searchlights on banks suspected to be involved in
any kind of sleaze.

The recent ‘declare your assets order’ to bank workers by the
Economic and Financial Crimes Commission (EFCC) has continued to
raise dust with stakeholders faulting the policy.

Bankers under the aegis of the Association of Senior Staff for
Banks, Insurance and other Financial Institutions (ASSBIFI) and
National Union of Banks, Insurance and Financial Institutions
Employees (NUBIFE) say the anti-graft should focus on the managing
directors of banks and other agencies of government instead of the
junior workers.

The new EFCC Chairman, Abdulrasheed Bawa, had last Tuesday
announced that the Commission would from June 1 be demanding the
asset declaration forms of bankers.

Bawa explained that the decision was in line with the provisions
of the Bank Employees Declaration of Asset Act.

Speaking yesterday, the President, Association of Senior Staff
for Banks, Insurance and other Financial Institutions (ASSBIFI),
Comrade Oyinkansola Olasanoye, said the anti-graft agency was
merely playing to the gallery.

He said: “As bank workers, we do not have any issue with the
EFCC investigating the banks but asking bank workers to declare
their assets is just trying to enforce an order already in
existence.

“Every year, bank workers declare their assets by filling a form
which is sent to the CBN for scrutiny. We have been doing that for
almost five years now.

“So, for the EFCC Chairman to now wake up and ask the same of us
is only an admission the EFCC is not doing its work.

“EFCC has the right to investigate the top management and board
of directors of banks but ordinary workers who are diligently
carrying out their responsibilities as professionals should be
exempted.”

On the possibility of challenging the order in court, the
ASSBIFI boss said the union is watching events as they unfold and
would decide on the next line of action if need be.

Echoing similar sentiments, the Deputy General Secretary,
NUBIFIE, Sola Aboderin, said: “We are not against any policy of the
government to checkmate fraudulent activities either in the
financial institutions or the country as a whole.

“But what we are concerned about is why single out banks? What
about the Nigerian Ports Authority, NNPC (Nigerian National
Petroleum Corporation) and other organisations?

“Why are they particular about banks? We are not saying they
should not check the illegality in the transfer of funds but why
focus on banks?”

“Another thing is that they said bank workers. Now, who are the
bank workers? They should go to CBN (Central Bank of Nigeria) and
ask who are the bank workers? The CBN has said that about 90 per
cent of those working in banks are not bank workers.

“So, if you are saying tellers, marketers and others are not
bank workers, then fine. In that case, they (EFCC) should focus on
the MDs (managing directors) of banks.”

He added: “I’m telling you that if you enter into the branch of
any bank today, hardly will you find more than three or four people
working as real staff of the bank. The rest are outsourced
staff.

Also reacting to the EFCC’s order, Mazi Okechukwu Unegbu,
lawyer, arbitrator and stockbroker said the agency was merely
grandstanding.

Unegbu who is former President/Chairman of the Council of the
Chartered Institute of Bankers of Nigeria (CIBN), acknowledged that
most banks these days are peopled mostly by outsourced workers who
work on an ad hoc basis.

The onetime Chairman/Chief Executive at Broad Bank and Citizens
Bank (both defunct) said asking such a category of bank staff with
little or no stake in the business to declare their assets was a
clear waste of time and resources.

The EFCC, Unegbu maintained, must step up its investigative
processes and put searchlights on banks suspected to be involved in
any kind of sleaze.