•Staff jittery over order to declare links with PEPs
From Uche Usim, Abuja
A major reorganisation at the Central Bank of Nigeria (CBN) is in the offing, Daily Sun has reliably learned.
Sources noted that the redeployments and appointments are part of the recommendations of the panel currently probing the activities of the bank as ordered by President Bola Tinubu.
It was not immediately ascertained if the reorga would involve the termination of appointments but experts said the apex needs needs to be urgently reorganised.
With towering revelations already made by the panel headed by Jim Obazee, the new CBN management, Daily Sun learnt, is struggling to reset Nigeria’s monetary policy hub to restore investors’ confidence and generally operate more efficiently.
“The CBN under the Buhari administration operated almost like a political party. There were too many decisions and actions that were politically-engineered, not economically-motivated. This undue political encumbrance is unhealthy for a regulator because the CBN should not dabble into politics.
“We know there are instances where political support is needed but not for the apex bank to operate as if it takes directives for its day-to-day operations from politicians. No.
“So, there would be some house cleaning, or you can call it reorganisation for want of a better description”, a source noted. As a prelude to that, the apex bank has mandated all staff with any links whatsoever to politically-exposed persons and close relatives of top government officials to declare same.
This was contained in a memo signed by its Deputy Director, Human Resources Department, Christian Eze.
Before this latest directive, the CBN, on 22 June precisely, released a Guidance Note On Politically Exposed Persons.
The circular, signed by Chibuzo Efobi, the bank’s director of financial policy and regulation department, directed financial institutions in the country to establish measures for mitigating potential money laundering, terrorism financing and proliferation financing risks posed by high-risk customers, including Political Exposed Persons (PEPs).
But in the latest circular, the apex bank reminded the staff of the existing restriction on the employment of close relatives of serving staff and board members.
“Consequently, all staff are obliged to make declarations of close relatives in the employment of the Bank.”
The apex bank explained that close relatives are: 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 equally directed all staff whose close relatives have been in the employment of the bank (serving or retired) to complete a form.
Additionally, 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 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, 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.
Arising from this, Daily Sun learnt that affected CBN staff (with links to PEPs) are already trembling over the matter as they do not know what lies ahead.
Also panicking are those employed under the leadership of the former CBN Governor, Mr Godwin Emefiele who was in office from June 2014 till June 2023 as they were asked to fill a form.
More so, it was gathered that the investigative panel requested for the social network analysis of the apex bank’s personnel to fortify its recommendations.
In the twilight of the Buhari administration, secret recruitments were allegedly carried out in most ministries, departments and agencies (MDAs), the CBN inclusive and without recourse to laid down procedures by firstly advertising the vacancies.
The agencies affected, Daily Sun gathered are those categorized as “juicy” and cut across all jurisdictions.
At the apex bank, scores of family members of influential Nigerians were allegedly recruited.
They included children of retired and serving top government officials and a relative of the immediate past president.
The secret recruitments not only shut out many qualified Nigerians from giving the vacancies a shot, they were done in flagrant disregard to the federal character principles.
President Bola Tinubu on July 28 appointed Jim Obazee, former chief executive officer of the Financial Reporting Council of Nigeria, as a Special Investigator to audit the activities of the banking sector regulator.
The President’s letter of July 28 said the appointment of Mr Obazee, relying on the fundamental objective set forth in Section 15(5) of the Nigerian constitution, was in furtherance of his administration’s anti-corruption fight.
President Tinubu specifically directed Mr Obazee to take immediate steps to ensure the strengthening and probity of key Government Business Entities (GBEs) and block leakages in the CBN and related GBEs.
He also directed the special investigator to provide a comprehensive report on public wealth currently in the hands of corrupt individuals and establishments (private or public).
Also, the president directed Mr Obazee to investigate the CBN and related entities using a suitably experienced, competent and capable team and to work with relevant security and anti-corruption agencies to deliver on the assignment.