contact_phoneCall us +234 (0) 9073530044

NEWS

The House of Representatives is considering barring staff members of banks and other financial institutions from operating accounts outside the shores of Nigeria.

todayJune 7, 2021 1

Background
share close

The House of Representatives is considering barring staff members of banks and other financial institutions from operating accounts outside the shores of Nigeria.

Their spouses and children may also be mandated to declare their assets when a bill presently at the House becomes law.

This was contained in the ‘Bank Employees, Etc., (Declaration of Assets)(Amendment) Bill 2021’, which is awaiting second reading.

The legislation was titled ‘A Bill for an Act to amend the bank employees, etc., (Declaration of Assets) Act CAP. B1 Laws of the federation of Nigeria 2004 to reflect the prevailing situation in the country’.

The bill, sponsored by the lawmaker representing Iseyin/Itesiwaju/Kajola/Iwajowa Federal constituency in Oyo State, Mr Shina Peller, proposed a series of amendments to the Act with Section 1 of the Act to be amended by deleting the existing subsections and inserting new ones.

The bill is also seeking amendment to Section 5 by inserting new subsections that prohibits foreign accounts for bank workers.

 

Power sector experts on Monday expressed worry over the decline in power generation despite interventions by the Central Bank of Nigeria in the sector.

Figures released by the System Operator, an arm of the Transmission Company of Nigeria, showed that the country’s power generation stood at 3,689.2 megawatts on Monday.

Although it moved up by 111.9MW when compared to the preceding day’s generation figure, experts wondered why the performance of the sector had not adequately reflected the financial interventions made in the sector by the Federal Government.

The Vice President, Prof. Yemi Osinbajo, had said the Federal Government had through the CBN pumped about N1.5tn in intervention funds into the power sector in the last two years.

Written by: EaglesFM

Rate it

Previous post

NEWS

The Central Bank of Nigeria has announced an increase in foreign exchange allocations to banks to meet the requests of customers.

The Central Bank of Nigeria has announced an increase in foreign exchange allocations to banks to meet the requests of customers. These requests include travellers seeking foreign exchange for travel allowances, payment of tuition and medical fees, among others. The CBN Governor, Godwin Emefiele, disclosed this at a meeting with the Managing Directors of Deposit Money Banks over the weekend. Emefiele cautioned the banks to desist from denying customers, particularly travellers, the opportunity to purchase foreign exchange, adding that CBN […]

todayJune 7, 2021 2


Similar posts

Post comments (0)

Leave a reply

Your email address will not be published. Required fields are marked *

About
eaglesfm_logo

Eagles FM Abuja Nigeria provides information, entertainment & empowerment it’s listeners.

 “Your Radio Experience, You Can Count On”

Contact us
Address
download streaming app
Privacy Policy
0%