A bill seeking to allow public officers operate
foreign bank accounts passed second reading at
the House of Representatives on Wednesday.
Under the extant Code of Conduct Bureau and
Tribunal Act, 2004, it is criminal for a public
officer to operate a bank account outside
Nigeria.
The bill that passed second reading on
Wednesday sought to amend this law “so as to
make the leave of the Bureau necessary for a
public officer to maintain or operate a bank
account outside Nigeria.”
One of the supporters of the bill, Mr. Bamidele
Faporusi, argued that the current law was “weak
and ineffective”, as no public officer had been
successfully prosecuted for flouting it.
He explained that the amendment proposed
included a proviso that public officer must get
the approval of the bureau before opening such
an account.
He claimed that the disclosure would remove
the secrecy surrounding foreign accounts.
Faporusi said, “Today, people are operating
such accounts by proxy or even in the open
because they know that nothing will happen.
“This amendment says you can operate the
account but this must be with the leave of the
bureau. People now know that there will be
punishment for non-disclosure.”
Another lawmaker, Mrs. Aisha Dahiru from
Adamawa State, told the House that the secrecy
surrounding foreign accounts encouraged “the
monumental corruption” in the country.
But, some members expressed reservations,
fearing that the proposal would simply give
public officers a licence to stash more
government funds in private accounts overseas.


punchng.com/news/reps-move-to-allow-public-officers-operate-foreign-accounts/

Yes! They must. How else will they fight corruption.

Everybody, abeg lets clap for the 'honourable' Members of d House of Reps!! This 'strategic' new law is certainly more important than other extremely critical bills like d PIB bill.....#hopelesspeople

Are we movin 4ward or backward... Instead of improvin on d security measures to checkmate offenders... They are publicly givin in 2 it... Where are we headin 2?

If the "progressives" as a collective group dont kick against this bill, then i'll never take their lying, thieving a5ses serious again