The Central Bank of Nigeria (CBN) has directed its staff to disclose ‘close relatives’ working with the bank and those who are Politically Exposed Persons (PEPs) in the country.
The bank had in the last 8 years been accused of engaging family members of top government officials,
The memo to the latest directive signed by Christian Eze, the Deputy Director of the Human Resources Department, mandates staff to submit these declarations by noon on Friday, November 10, 2023.
The memo stated that all staff members must disclose close relatives, defined as spouses, biological and adopted children, siblings, parents, and half-siblings, employed by the bank. The definition of spouses extended to include cohabiting partners and couples with children.
“Please recall Management’s restriction on the employment of close relatives of serving staff and board members,” the memo reads.
“Consequently, all staff are obliged to make declarations of close relatives in the employment of the Bank.”
Following that, the bank directed all employees with close relatives who had previously worked for the bank (whether serving or retired) to fill out a form.
The directive also required staff who joined the CBN from 2014 onwards to declare any relationships with PEPs.
“For clarity, a PEP is an individual who is or has been entrusted with prominent public functions in Nigeria or Foreign countries or by an International Organization and people/entities associated with them.
“PEPs include Heads of State or Government, Political appointees to Heads of State or Government, State Governors, Senior Politicians, Legislators (Federal, State and Local Government), Local Government Chairmen, Important political party officials, Family members or close associates of PEPs, Senior Government, Judicial or Military Officials, Members of Royal Families, and Senior Executives of State-owned Corporations,” the memo explained.
The CBN set a deadline of noon on Friday, November 10, for all submissions and warned that non-disclosure or false declarations would result in sanctions.
The latest move may not be unconnected with the ongoing investigation by the Special Investigator, Jim Obazee, who has reportedly requested a social network analysis of the bank’s personnel.
On July 28, President Bola Tinubu appointed Jim Obazee, a former chief executive officer of the Financial Reporting Council of Nigeria, as a special investigator to probe the activities of the CBN and other related entities.