Good Move.

Most Nigerians believe corruption is in the corridor of government only. When in reality corruption is like an instinct in us now.

Most Nigerians amass wealth overnight at the expense of their employees, colleagues and subordinates. You begin to wonder if they won a lottery overnight or they just walked into privileges overnight. It is high time our institutions started questioning sources of wealth of people for vindication. Then will quest for ill-gotten wealth be reduced.

AsoRockz01:
Lady's and gentlemen,this is "boosit". This government is just looking for means to retrench workers while there re no means in place to ccreate job. It's very Very terrible.



Anti-corruption ko,Uncle-corruption ni.

Ok this is funny but true!

thesicilian:
Is it even legal for a worker in the private sector, who is not under any investigation for any crime, to be ordered to declare his or her assets? Doesn't this impinge on our right to privacy?
While the anti corruption drive by the federal government is a good thing, it is expedient that it be done under the limits of the law.
I expect the human rights lawyers to challenge this directive.

It is an existing CBN regulation not followed.

You are to declare your asset as a bank worker.

It is not a new law. It was just enforced again.

Has our president shared with the public the asset declaration he made to CCB as he promised?
What happened to leadership by example?

CBN has gone Political #Jagbajantis

@

Useless country, there are corrupt govt. Officials like Amaechi who has never been questioned.

Buhari is failing and is a total disaster.

Good question. In most so-called advanced countries, all residents MUST declare their assets when filing annual tax returns. The reason these societies function well is that government keeps a tab on everyone, ensuring the wealthy pay their fair share into the common purse.

Asset declaration is not an infringement of one's human rights but a requirement of a modern, functioning society where basic resources ought to be allocated for the benefit of all.

thesicilian:
Is it even legal for a worker in the private sector, who is not under any investigation for any crime, to be ordered to declare his or her assets? Doesn't this impinge on our right to privacy?
While the anti corruption drive by the federal government is a good thing, it is expedient that it be done under the limits of the law.
I expect the human rights lawyers to challenge this directive.

Quakertellicus1:


Looking at the above comment , it is typical of the comments in this thread so far......serious lack of knowledge.

Corruption in the banking sector has been a serious problem for years. In the 1990's...we had the failed bank saga whereby lots of people lost thousands of naira patly because of the corrupt activites of some bankers. The EFCC's first cases involved bankers (including its biggest case in 2005...which makes even the Ibori case look like child's play....as it almost wrecked Brazil's second largest bank. It was a day of pride for Nigeria when Ribadu was able to travel to Brazil and hand over the cash that was stolen back to the bank). And we recall the Skye bank wahala....which happened just now...and which forced the CBN to bail out the bank and save Nigerians millions of naira.

So, I see nothing wrong with the CBN directive.....

Seems some people open their mouths for opening sake.....

I am sure (I hope) you mean well, however, the term PRIVATE BUSINESSES does not follow rules people seeking elections follow. This is a stark breach of powers and privacy.
Set out guidelines to ensure renumeration effectiveness but do not go to a wo(man)s' home and tell them to tell you what they own. God have mercy on all the clowns encouraging the clown in chief to continue his programmes that lack foresight. Countried that require knowledge of owned property do that for their tax and social security systems. Has Cassandra set up adequate infrastructure to change how we collect tax or spend it properly on a true social system not almajari's !!.
Shalom.

ace05:


I am sure (I hope) you mean well, however, the term PRIVATE BUSINESSES does not follow rules people seeking elections follow. This is a stark breach of powers and privacy.
Set out guidelines to ensure renumeration effectiveness but do not go to a wo(man)s' home and tell them to tell you what they own. God have mercy on all the clowns encouraging the clown in chief to continue his programmes that lack foresight.
Shalom.

It is private business....however a bank collapsing has serious repercussions for the general public.

Hence, I think the govt has every business making sure the bankers are not corrupt.

And yes....if PDP proposed it , I would back it. We can no longer afford to pay for the corrupt indiscretions of would be Erastus Akingbola imitators.

Oletty:
Good question. In most so-called advanced countries, all residents MUST declare their assets when filing annual tax returns. The reason these societies function well is that government keeps a tab on everyone, ensuring the wealthy pay their fair share into the common purse.

Asset declaration is not an infringement of one's human rights but a requirement of a modern, functioning society where basic resources ought to be allocated for the benefit of all.

I get your point, and I guess I have to agree. As long as they don't take it too far

AntiWailer:

It is an existing CBN regulation not followed.
You are to declare your asset as a bank worker.
It is not a new law. It was just enforced again.

OK. Didn't know that. Hope they don't abandon it again in 3yrs time

i don't understand why almost all the posters are criticizing this beautiful move by the government.


this move will go a long way in sanitizing our corrupt banking system.





if only this government can streamline and balance their so-badly biased appointments, actively work towards rebuilding the moribund economy, put the insecurity situation under check(especially the fulani terrorists), astutely restructure our corrupt systems and vigorously implement positive infrastructural reforms in Nigeria then they will have my support again.



till then, i will just be watching them and counting my losses!

Nigeria, which way oo

Oletty:
Good question. In most so-called advanced countries, all residents MUST declare their assets when filing annual tax returns. The reason these societies function well is that government keeps a tab on everyone, ensuring the wealthy pay their fair share into the common purse.

Asset declaration is not an infringement of one's human rights but a requirement of a modern, functioning society where basic resources ought to be allocated for the benefit of all.

Just curious, like which countries?

This whole asset declaration left, right and center failed when PMB failed to keep his promise by publicly declaring his assets. If he had done that, it would have been a moral victory for anti corruption fight.

This government is not smiling at all ....

AntiWailer:


It is an existing CBN regulation not followed.

You are to declare your asset as a bank worker.

It is not a new law. It was just enforced again.

Let me ask you one question . If someone is found wanting in the Banking sector who initiates the case
Government or share holders ?
I'm not talking about public funds lodged though .

erico2k2:

Let me ask you one question . If someone is found wanting in the Banking sector who initiates the case
Government or share holders ?
I'm not talking about public funds lodged though .

If you have an asset that you can not explain, ICPC or EFCC will invite you to explain how you got them.

Once you give a satisfactory explanation, u are cool.

The bank can only take you up if they have evidence of money belonging to them in your custody.

Oletty:
Good question. In most so-called advanced countries, all residents MUST declare their assets when filing annual tax returns. The reason these societies function well is that government keeps a tab on everyone, ensuring the wealthy pay their fair share into the common purse.

Asset declaration is not an infringement of one's human rights but a requirement of a modern, functioning society where basic resources ought to be allocated for the benefit of all.

Una go just wake up buy MB and type craaaap
Name one country (advanced )country like you stated where I must declare my assets as a citizen from eaurope to Asia and America
I dey wait.

AntiWailer:



If you have an asset that you can not explain, ICPC or EFCC will invite you to explain how you got them.

Once you give a satisfactory explanation, u are cool.

The bank can only take you up if they have evidence of money belonging to them in your custody.

Ok who is going to report these assets in the first place ? Cos this is different from political setting as they bankers are not public servants .
It's this reason only public servants declare their assets in the UK and their pay as well.
Cos they (the)uk govt recon it's not of public interest to know what private people own unless public funds are involved or you occupy a position of trust .
However to check mate the abuse of these praivilage they introduced the freedom of information bill . So I can write to the PM via that bill or anybody including private people who occupy position of trust to see what financial stat they at .

erico2k2:

Ok who is going to report these assets in the first place ? Cos this is different from political setting as they bankers are not public servants .
It's this reason only public servants declare their assets in the UK and their pay as well.
Cos they (the)uk govt recon it's not of public interest to know what private people own unless public funds are involved or you occupy a position of trust .
However to check mate the abuse of these praivilage they introduced the freedom of information bill . So I can write to the PM via that bill or anybody including private people who occupy position of trust to see what financial stat they at .

You are expected to declare your asset as a banker. It is a CBN regulation that has always existed but not enforced.

Let me explain Nigerian situation.

Politicians use big bank shots to launder money and hold assets for them.

So when traced, they will claim it is not theirs. So if you declare your asset, they can compare and ask u how u got money to acquire that kind of asset in that period.

Many bankers are partners in "yam-eating". Is it not bankers that help siphon Nigeria's money?

So, there was a 1968 regulation on asset declaration that bankers forgot about?

More "dead" regulations will soon be "resurrected".

Sometimes am wondering why some ppl just write without seeking knowlege or even think deeply before kick against govt.I wonder the kind of ppl on this nairaland. Banking is the most corrupt sector in this co3 today. Is it possible for any politician/civil servant steal without help of banking. Can you transfer money abroad without commercial banks.cbn will give dollars to nig banks to sell for pta/bta canyou get that without knowing of top mgt in d bank.d MDs and EDs of nig banks today are living above their income.I pray d govt will be able to contenue with this policy.Govt bless fed of Nig.

thesicilian:
Is it even legal for a worker in the private sector, who is not under any investigation for any crime, to be ordered to declare his or her assets? Doesn't this impinge on our right to privacy?
While the anti corruption drive by the federal government is a good thing, it is expedient that it be done under the limits of the law.
I expect the human rights lawyers to challenge this directive.

You did not read the report. It is always good to read a story in full before showing your ignorance in public. The directive is 100% legal!

It was stated clearly in this same report that the directive was in conformity with Bank Employees' Assets Declaration Act of 1986 (amended in 2004)! The fact that previous federal governments and previous CBN Governors refused to implement the law does not make it illegal...

Therefore, nothing for human rights lawyers to fight for here! It is the law, lol!!!

You should actually commend Buhari and Emefiele (but more like Buhari because Emefiele became Governor in June 2014 but he did nothing about this until now under Buhari's administration) for implementing an existing law others failed to implement because their corruption collaborators are bank executives!

Quakertellicus1:


Looking at the above comment , it is typical of the comments in this thread so far......serious lack of knowledge.

Corruption in the banking sector has been a serious problem for years. In the 1990's...we had the failed bank saga whereby lots of people lost thousands of naira patly because of the corrupt activites of some bankers. The EFCC's first cases involved bankers (including its biggest case in 2005...which makes even the Ibori case look like child's play....as it almost wrecked Brazil's second largest bank. It was a day of pride for Nigeria when Ribadu was able to travel to Brazil and hand over the cash that was stolen back to the bank). And we recall the Skye bank wahala....which happened just now...and which forced the CBN to bail out the bank and save Nigerians millions of naira.

So, I see nothing wrong with the CBN directive.....

Seems some people open their mouths for opening sake.....

Your last statement stinks of a person who lacks manners. You can attack the points I raised without that last statement.

I have followed your comments on Nairaland, but I don't think I have ever quoted you; I find it repulsive to quote anybody who comes across to me as a die-hard for this government.

Anybody who wants this government to fail, is either dumb or crazy. That said, you must accept that some of us are not foolish; we criticise when they get it wrong, but praise when they get it right. For now, they have been getting it wrong!

You do NOT love Buhari more than anybody!!

The day the FG begins to behave I will be the first to commend them. Please, do not quote me if you cannot counter my points without resorting to insults, no matter how stealth they might be.

GreyLaw:


Your last statement stinks of a person who lacks manners. You can attack the points I raised without that last statement.

I have followed your comments on Nairaland, but I don't think I have ever quoted you; I find it repulsive to quote anybody who comes across to me as a die-hard for this government.

Anybody who wants this government to fail, is either dumb or crazy. That said, you must accept that some of us are not foolish; we criticise when they get it wrong, but praise when they get it right. For now, they have been getting it wrong!

You do NOT love Buhari more than anybody!!

The day the FG begins to behave I will be the first to commend them. Please, do not quote me if you cannot counter my points without resorting to insults, no matter how stealth they might be.

Well

1.Apologies for any unintentional rudeness.....

2.I happen not to be a fan of the current government myself....even though I appear to be. They are not doing what I want them to do....get Nigeria off resource dependency.

3.You opposed the policy re banks with the idea that the government ''is not going after its own''. I would agree with you on that. I would also point out that this policy did not come out of thin air. It is the continuation of several polices designed to restrict corruption in the banks....starting from the failed banks saga of the 1990's to the EFCC founding and so on.

4.Keep in mind that SKYE bank almost collapsed because the bankers running the bank were doing crass things like awarding themselves loans and then forgiving themselves. CBN had to bail them out

5.We must get all corrupt politicians...whether APC or PDP. However....if a bank collapses because manager X is palying with the books....it could have serious repercussions for our economy....far worse than any bad egg politician.

6.Also....it makes things difficult for corrupt politicians to use banks as their personal corrupt laundering machine. If they cannot bribe the bankers to turn a blind eye to their corrupt activities...then where are they going to run to? (Swiss banks are not as attractive like they use to be).

7.It is a harsh policy, yes. But if it prevents the mess of the 1990's....where people I knew lost money, and if it helps make it dificult for pols to steal....then I am for it.

No more failed banks.

Quakertellicus1:


Well

1.Apologies for any unintentional rudeness.....

2.I happen not to be a fan of the current government myself....even though I appear to be. They are not doing what I want them to do....get Nigeria off resource dependency.

3.You opposed the policy re banks with the idea that the government ''is not going after its own''. I would agree with you on that. I would also point out that this policy did not come out of thin air. It is the continuation of several polices designed to restrict corruption in the banks....starting from the failed banks saga of the 1990's to the EFCC founding and so on.

4.Keep in mind that SKYE bank almost collapsed because the bankers running the bank were doing crass things like awarding themselves loans and then forgiving themselves. CBN had to bail them out

5.We must get all corrupt politicians...whether APC or PDP. However....if a bank collapses because manager X is palying with the books....it could have serious repercussions for our economy....far worse than any bad egg politician.

6.Also....it makes things difficult for corrupt politicians to use banks as their personal corrupt laundering machine. If they cannot bribe the bankers to turn a blind eye to their corrupt activities...then where are they going to run to? (Swiss banks are not as attractive like they use to be).

7.It is a harsh policy, yes. But if it prevents the mess of the 1990's....where people I knew lost money, and if it helps make it dificult for pols to steal....then I am for it.

No more failed banks.

Thank you for the politeness. Good points you raised.

DTaj:


[s]You did not read the report. It is always good to read a story in full before showing your ignorance in public.[/s] The directive is 100% legal!

It was stated clearly in this same report that the directive was in conformity with Bank Employees' Assets Declaration Act of 1986 (amended in 2004)! The fact that previous federal governments and previous CBN Governors refused to implement the law does not make it illegal...

Therefore, nothing for human rights lawyers to fight for here! It is the law, lol!!!

You should actually commend Buhari and Emefiele (but more like Buhari because Emefiele became Governor in June 2014 but he did nothing about this until now under Buhari's administration) for implementing an existing law others failed to implement because their corruption collaborators are bank executives!

Thanks. Could have done without the first couple of statements, though.