EFCC Set to Verify Assets of Bank CEOs, top Managers.

Following compliance with its March 2021 directive to top bankers to submit their assets declaration, the Economic and Financial Crimes Commission (EFCC) is now set to verify their claims.

More than 500 bank executives, including 120 Chief Executive Officers/Managing Directors and Executive Directors have declared their assets in line with the June 30 deadline set by the EFCC, The Nation learnt yesterday.

The directive, handed down by EFCC Executive Chairman Abdulrasheed Bawa, said it was  in line with the Bank Employees, etc (Declaration of Assets) Act 1986.

By the enabling Act, defaulters risk 10 years in jail if found guilty by any Federal High Court.

A well-placed source said yesterday that from the agency’s records, “there has been substantial compliance with the directive of the EFCC chairman by bank executives.”

“So far, many board members, CEOs, top managers have turned in their asset declaration forms,” the source said.

Continuing, he said: “Although only the EFCC chairman can disclose the actual number of declarants, more than 500 top bankers have done so.

“Some banks have even extended the exercise to their managers and branch managers at all levels.

“The EFCC is set for the next stage which is the verification of the assets of the bank executives.  We will soon deploy our teams for verification.

“We are empowered by law to confirm if the assets declared were real; if there are under-declarations or anticipatory declarations or if some declarations are outright falsehood.