CBN Orders Staff to Disclose Relatives in Bank’s Payroll, Declare Links with Politically-exposed Persons

The Central Bank of Nigeria (CBN) has directed its staffers to declare their relationships with Politically Exposed Persons (PEPs) in the country.
In a memo signed by its Deputy Director of Human Resources Department, Christian Eze, the apex bank, according to Premium Times, also directed its members of staff to declare their ‘close relatives’ in the employment of the bank.

“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.”

The apex bank explained that a close relative is defined as a spouse, biological and adopted children, brother, sister, mother, father and half-siblings.
“Spouse and spousal relationships include cohabitation, live-in partners, couples living together and couples who have children together,” it added.

The bank thereafter directed all members of staff whose close relatives have been in the employment of the bank (serving or retired) to complete a form.
In addition, the bank said staff who joined the services of the Bank from 2014 to date and have relationships with Politically Exposed Persons (PEPs) are also required to disclose such by completing the form.

“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 Organisation 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, Senior Executives of State-owned Corporations.”

The bank said all submissions should be made on or before 12 noon, Friday, 10 November, 2023.
It warned that non-disclosure or false declaration shall attract sanctions.

The CBN had come under fire during President Muhammadu Buhari’s regime for secretly recruiting dozens of family members of top government officials, including children of ministers, serving and former government functionaries and a nephew of Buhari.

The recruitment was done without advertising the vacancies to allow other Nigerians to apply, as required by law. It was also done in flagrant disregard of federal character law.

It was gathered that the disclosures demanded from staff members are part of the ongoing probe of the institution by a special investigator.
“We are told that the investigator demanded to have the social network analysis of the bank’s personnel,” an official said, asking not to be named because he has no permission to discuss the matter with journalists. “So the bank is collecting the data on his behalf.”

President Bola Tinubu had on 28 July appointed a former Chief Executive Officer of the Financial Reporting Council of Nigeria (FRCN) Jim Obazee, as a Special Investigator to probe the activities of the CBN and other related entities.