Bank’s assets declaration and corruption war
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Wed Apr 21 2021
Recently, Chairman of the Economic and Financial Crimes Commission (EFCC), Abdurasheed Bawa, made a declaration that the Bank Employees Assets Declaration Act of 1986 would be resuscitated to block loopholes created by bankers to sanitise the country’s financial system.
According to Bawa, the decision was taken due to the role bankers are expected to play in the fight against corruption, as the EFCC is mandated to ensure compliance with the Act. Section 1 of the Bank Employees Declaration of Assets Act 1986 makes it mandatory for every employee of the bank to make full disclosure of assets upon employment on an annual basis. The law under Section 7 Sub-Section 1 stipulates that it shall be an offence for an employee of a bank to own assets in excess of their legitimate and probable income.
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Published 12:18 am
Published 12:18 am
Players in the Nigerian economy have advised the Federal Government to reduce its unnecessary expenditures, address security and diversify revenue source.
They said these measures were relevant to check rising cost of governance and dwindling revenues.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, on Monday admitted that the nation’s economy was facing a difficult time.
“These are very difficult challenging times because revenues are low and the demand for expenditures are very high understandably because we have to keep intervening to make sure the pandemic is contained as well as the economic impact it has caused,” she said.
BUSINESS Personality
Humanity is essentially the same; all face challenges; all face uncertainties, and all face issues to deal with. How one faces his daily life ends up exposing his sense of character, his ability to understand the issues on the table, and his ability to appreciate the humanness of the person across the table. Raheem Akingbolu writes on Managing Director of Heritage, Ifie Sekibo’s selfless service to humanity as he attains the age of 56
Globally, men and institutions have always emerged at different fora to show support to humanity in the absence of their immediate government’s intervention. They were pushed to the occasion due to their human nature.
Ifie Sekibo: A Leader With the Midas Touch at 56, By Dele Akinsemoyin
He is a tenacious entrepreneur and a passionate game-changer with a proven track record in turn-around management.
Now at 56, Sekibo remains a man of vision and an enigma in the field of business. People marvel at how he excelled in taking almost dead business ventures to profit-making, but to him it’s all in a day’s work once the mindset is attuned to success.
Your life can be better with just one more try. Relentlessly pursue an opportunity, and you will generate the hope that you will make it. You go to school, there is a hope you will make it. You jump into a river, there is a hope you will swim across, especially in shark-infested waters. So, hope is a potent and powerful ingredient of success when you hit a crisis block.
FORTEM Micro Finance CEO, Ann Usiagu-Muraina reveals secret of her passion for women empowerment
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FORTEM MFI is a membership-based institution licensed to operate as a non-governmental Microfinance Institution.
FORTEM MFI is focused on Small and Medium Scale Enterprises, salary earners, traders, farmers, the underserved, and those at the rock bottom of the economic pyramid.
FORTEM MFI is endowed with an active management made up of men and women with over 27 years of experience who have distinguished themselves in banking, insurance, public service and entrepreneurship, and who bring strong competencies to the management of the institution.
According to the MD/CEO, Ann Usiagu-Muraina, “We are strategically positioned to provide excellent services to our customers and exceed their service expectations.