EFCC: Tension As Anti-graft Agency Goes After Top Bankers

By Fola James

Palpable fear has gripped the banking sector following decision by the Economic and Financial Crimes Commission, EFCC to beam searchlight into the sector. The chairman of the anti-graft agency, Abdulrasheed Bawa had, after meeting with President Buhari on Wednesday, said assets declaration forms will now be demanded from all bankers across the country.

But insiders in the commission told the magazine that there’s the belief among top agents in the agency and the presidency, that the financial sector is one of the most corrupt apart from the public sector, therefore, the reason by the new leadership in the agency “to go after top bankers by making them account for their wealth,” a source said.

The source said ”the new regime led by Bawa will try to clean the Augean stable of the banking and financial sector, after series of complaints from members of the public who are demanding a probe. The agency will be looking into how some wealthy bankers made their money, though the commission is not particularly after any individual.”

It was, however, learnt that some leaders in the sector have started reaching out to the commission to soften the ground on them by the time the probe begins as “some of them cannot explain their stupendous wealth” another source in the commission said, adding that the major concern of the commission is the way some bankers have been helping politicians to launder money out of the country.

The source also stated that funds used in procurement of weapons by terrorists and other criminals are moved through the banking sector, and the president has directed the EFCC chairman to look into the problem. Bawa made the announcement after meeting President Buhari in Aso Rock.

Speaking to State House correspondents in Abuja,  Bawa, disclosed that bankers would be required to present the forms from June 1.

Bawa said “The EFCC, come June 1, 2021, will be demanding these assets forms filled by the bankers and for us to see that the line that we have drawn from June 1 is fully complied with by all, bankers in particular.”

He explained that the commission took the decision as a result of concerns raised on the roles played by bankers in the fight against corruption, noting that the EFCC will ensure bankers comply with the Bank Employees, Etc. (Declaration of Assets) Act.

He stated that bankers would be asked to declare their assets and the commission would ensure that all employees in the nation’s banking industry comply with the directive.

“The assurance that I am going to give Nigerians going forward is that we will do our best to ensure that this country is free of economic and financial crimes.

“We understood that the tail end of every financial crime is for the criminals to have access to the funds that he or she has illegitimately gotten, and we are worried about the roles of financial institutions.God willing, we hope that all financial institutions, particularly the bankers will declare their assets as provided for by the law in accordance with the Bank Employees, Etc. (Declaration of Assets) Act” Bawa said.