BANK EMPLOYEE DECLARATION OF ASSETS ACT AMENDMENT BILL
Bill · Finance
A Bill amends the Act requiring bank employees to declare their assets to strengthen transparency in the banking sector. It targets bank employees and financial regulators to combat corruption. This improves the integrity of Nigeria's financial system.
What Is This Policy?
A bill to amend the Act requiring bank employees to declare their assets, aimed at strengthening transparency and anti-corruption measures in the banking sector.
Who Does It Target?
Bank employees, financial institutions, banking regulators, and the Central Bank of Nigeria.
What Does It Aim to Achieve?
Strengthen asset declaration requirements for bank employees, combat corruption in the banking sector, and improve financial sector integrity.
Key Features
Enhanced Declaration: Updates asset declaration requirements for bank employees Anti-Corruption: Strengthens mechanisms to detect and prevent corruption in banking Compliance Framework: Modernizes the compliance and enforcement framework
Current Status
Rollout Stage: Under legislative consideration Coverage: All banks and financial institutions in Nigeria Funding: Not applicable
How to Access
Current asset declaration requirements remain in effect. The amendment would update requirements.
Impact & Metrics
Would strengthen integrity and transparency in Nigeria's banking sector.
Official Resources
Website: nass.gov.ng Contact: National Assembly, Three Arms Zone, Abuja
Legal Framework
Introduced under the legislative powers of the National Assembly vested by Section 4 of the 1999 Constitution (as amended) as an amendment to the Bank Employees, etc. (Declaration of Assets) Act (Cap B1 LFN 2004). Operates alongside the Banks and Other Financial Institutions Act (BOFIA) 2020, the EFCC (Establishment) Act 2004, the ICPC Act 2000, and the Money Laundering (Prevention and Prohibition) Act 2022.