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Banking fraud: Activist backs EFCC Chairman on Banker’s Asset Declaration Policy

…Says, Bank workers promote fraud in the sector
A human rights activist, Comrade Adeniyi Alimi Sulaiman, has thrown his weight behind the decision of the new Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Abdulrasheed Bawa, that the Bank officials in the country should declare their assets, saying it is right decision at the right time.
Specifically, he disclosed that the new Chairman of the EFCC had
started on a good note following the new policy, stressing that the
bank officials were aidding and abetting the fraudulent activities
ravaging the banking sector in the country which made their teeming customers to lose their hard earned resources to fraudsters.
Comrade Sulaiman who is Executive Chairman, Centre for Human Rights and Social Justice (CHRSJ), stated that Bawa had planned to uproot the major financial fraud in the banking industry and that was why their Unions were crying wolf when there was none.
It would be recalled recently that, the new Anti-graft Chairman, Mr.
Abdulrasheed Bawa, had penultimate Tuesday, announced that the
Commission would from June 1st, 2021, be demanding the Asset
Declaration forms of the Bankers.
Backing the EFCC Chairman, the pro-democracy activist, maintained that the bank officials from Tellers, Marketers and other senior officials were perpetrating fraud in the industry.
According to him, Mr. Abdulrasheed Bawa, the new EFCC Chairman, had touched the wounds of the Bankers for requesting for their Assets Declaration form June, 2021 and they were not comfortable with the new policy because some of their hands have soiled with fraud in the sector.
Recalling that the Centre (CHRSJ) had earlier drag the three nation’s commercial banks before the apex Bank, the Central Bank of Nigeria (CBN) and anti- graft body, the Economy and Financial Crimes Commission (EFCC) over perceived banking fraud against their customers.
The affected commercial banks were Guaranty Trust Bank(GTB), First City Monument Bank (FCMB) and United Bank for African (UBA),alleging that the banks’ officials were aiding and abetting the recent banking fraud in the banks where money of their customers were transferred illegally to another account and also allowing the fraudsters to open an account with their Banks without necessary requisite, adding that they were colliding with the approved O’PAY agents through which the customers’ money were fraudulently removed.
The rights group insisted to strive to ensure the end of this banking
monster in the land by establishing a Banking-Customers Relation Unit(BCRU),disclosing that the rights group would use the Unit to stop the
ongoing banking fraud of Nigeria masses of their meager resources in the various banks.
The group cited the defrauding of one Nigerian, Miss Alimi Ganiyat
Temitope of 41 Seriki Street, Lagos, who is a customer of Guaranty Trust Bank( GTB ) Plc with Savings Account Number:-(0430971306) and little girl was defrauding of her sum of Two Hundred and Fifty Thousand Naira (N250,000k) between July 17th,2020 to August 5th,2020 through POS/WEB PURCHASE TRANSACTION-Opay*Flutterwave Ikeja NG.
According to the group, it was surprising that the Guaranty Trust Bank Plc (GTB) refused to help the helpless little girl to recover her
money back when she reported to the bank of what happened to her money in their bank account which made the customer to suspect that their officials had the knowledge of the fraudulent transfer of her money to another account, thinking that she would not have audacity to ask for her money back.
Giving another experience of a customer with Oko-Oba branch of
FCMB, Mr. Ibikunle Adebayo (+234 8103966336) of Account Number:-(6027724010), where sum of One Hundred and Sixty-Nine Thousand naira (N169,000) were deducted from Ibikunle’s Account without his knowledge but with knowledge of the FCMB Bank official.
They respectively used Osifoh Peter with UBA Account
Number:-(2052933837) and OPAY Account of Rufai Saidu with Account Number:-(9031811238), to withdraw the sum of One Hundred and Sixty-Nine Thousand naira from Ibikunle’s Account on Wednesday 11th of November,2020.
And another FCMB Customer of No.9, Abaku Ijoja Junction, Aiyetoro, Osogbo, Osun State, Mrs. Adeyemi Abiodun Waliyat with Account Number:-(5525660011) of Classic Saving Two(2), Osogbo Branch, were fraudulently withdrawn the Sum of #111,800k from her account by one Shola, which used #100,300k to play Bet Naija on three different times and also used #10,500k to buy airtime on another three different Phone Numbers as follows:-(+234 9131329923, +234 8149800768 & +234 7026258494).
It further added that the sum of Five Hundred Thousand naira (N500, 000) were illegally moved out of an account belonging to Mr. Smart-Alli Amusa with GTB Account number: – (0121132515) and Access Bank Account
number:-(0031171790), belonging to Alani Bolarinwa Olaniyan was also experienced illegal deduction of funds.
He reiterated that many bank customers have been the victims of such bank fraud in Nigeria, reiterating that the human rights organization would not hesitate to launch “#EndBanking fraud” nationwide protest.
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I committed to diversifying the economy and expanding revenue sources, not to punish Nigerians, Says Tinubu

President Bola Tinubu said on Thursday that recent government policies are not meant to punish Nigerians but are necessary interventions to prevent the economy from collapsing.
Tinubu made this known at the 55th Annual Conference of the Nigerian Institute of Estate Surveyors and Valuers (NIESV) in Abuja.
The president was represented by the Minister of Housing and Urban Development, Ahmed Dangiwa.
Dangiwa was, in turn, represented by Dr Edna Tobi, Special Assistant for International Cooperation and Partnership in the Ministry.
The conference’s theme was, “Transform, Invest, Drive: Optimising Real Estate Finance and Taxation.”
It brought together stakeholders to deliberate on the intersection of real estate and fiscal policy.
The president said that the administration was committed to diversifying the economy and expanding revenue sources.
This, he said, informed the government’s drive to implement policies that enhanced income from taxation while upholding fairness and transparency.
“Our decision to reform Nigeria’s tax system and fiscal policy was deliberate and strategic,” he said.
“It was a courageous and bold move aimed at addressing the suffocating economic challenges facing the nation.”
Tinubu stated that reforms were tailored to create a more investment-friendly environment, particularly in the real estate sector, and to boost job creation and economic growth.
He acknowledged the critical role of estate surveyors and valuers in achieving these objectives and expressed the government’s willingness to partner with NIESV to deliver effective tax administration and revenue utilisation.
Delivering the keynote address, Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, described the real estate sector as a vital but under-assessed part of Nigeria’s economy.
Adedeji, represented by Chief Economic Adviser Prof. Mohammed Salisu,identified challenges such as informality, data fragmentation, and inconsistent valuation standards as obstacles to effective taxation.
“The Tax Administration Bill will provide clearer procedures and responsibilities for taxpayers, enhance compliance, and reduce inefficiencies and multiple taxation,” he said.
Adedeji called for the cooperation of NIESV in standardising property valuation methods and supporting the implementation of reforms.
NIESV President, Victor Alonge, described the conference as a milestone event, stating that the outcomes would help reposition land, housing, and infrastructure policy in Nigeria.
He assured that the institute would present a comprehensive communiqué to the government, containing resolutions and actionable policy suggestions to drive national development
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Things You Need to Know About Dr. Charles Akinola, the Newly Nominated Managing Director of SWDC

….A Seasoned Public Policy Advisor and Development Strategist
Dr. Akinola has over 30 years of experience in public service, international development, and strategic governance, specializing in agricultural development, sustainable economic growth, and policy implementation across Nigeria and West Africa.
2. Holds Prestigious Academic Credentials from Global Institutions. He earned a Ph.D. in Agricultural Extension from the University of Ibadan and a master’s in public policy & administration from Harvard Kennedy School, where he was an Edward S. Mason Fellow.
He also studied at Cambridge, Cranfield, and MIT, gaining advanced expertise in cross-sector partnerships, enterprise development, and conflict resolution.
3. Instrumental in the Formation of the SWDC and the DAWN Commission
Long before his nomination, Dr. Akinola played a key role in founding the Development Agenda for Western Nigeria (DAWN) Commission for regional integration. He was deeply involved in shaping the vision of the SWDC.
As Chairman of the Technical Committee under the Southwest Governors’ Forum, he led the review of the SWDC Bill and coordinated regional consensus on development priorities.
4. Former Chief of Staff in Both Federal and State Governments, He served as Chief of Staff to the Governor of Osun State (2018–2022) and later as Chief of Staff to the Minister of Marine & Blue Economy, His Excellency Adegboyega Oyetola (CON), while also acting as Senior Special Assistant on Marine and Blue Economy to President Tinubu.
These roles gave him frontline experience in both subnational and national policy execution.
5. A Leader in Community Engagement and Sustainable Development, Dr. Akinola has worked with major oil & gas companies, including WAPco, designing sustainable livelihood programs across Nigeria and the Gulf of Guinea. His contributions helped establish the Global Memorandum of Understanding (GMoUs) as an industry benchmark for community development in the Niger Delta.
6. Active Global Policy Thought Leader.
He is a member of the Dean’s Council at the Harvard Kennedy School of Government and was a Fellow at Harvard’s Weatherhead Centre for International Affairs. His thought leadership focuses on governance, economic innovation, and institutional reform.
7. Arts Collector
Dr. Akinola is a lover of the arts and culture, collects works of indigenous artists, such as Jimoh Buraimoh, Demas Nwoko, Tola Wewe, Nike Okundaye, among others.
*Career Highlights*
• Dr. Charles Akindiji Akinola is a Public Policy Advisor and Administrator whose work has traversed the agricultural and agribusiness, sustainable community economic development, international affairs, and development sectors, developing strategies that shape policy implementation.
• Dr. Akinola holds a Ph. D. in Agricultural Extension from the University of Ibadan, and a master’s degree in public policy & administration from the Harvard Kennedy School of Government, Harvard University.
• He also holds a Postgraduate Certificate in Cross-Sector Partnerships from the University of Cambridge, Cambridge, UK, and attended certificate courses in Enterprise Development and Management from Cranfield University, Cranfield UK, and in Negotiation, Mediation, and Dispute Resolution from the Massachusetts Institute of Technology (MIT), Boston, USA.
• Until recently, Dr. Akinola was Senior Special Assistant to the President on Marine & Blue Economy and concurrently, Chief of Staff to the Honourable Minister.
• He served as the Chief of Staff to the Governor of Osun State between 2018 and 2022. During his tenure, he supported the Governor in developing and implementing policy objectives and strategic and operational plans of the administration.
• As Chief of Staff, the Southwest Governors Forum appointed Dr. Akinola as the Chairman of the Technical Committee to review the South-West Development Commission (SWDC) Bill and aggregated the position of the six Southwest States towards a joint memorandum to the Governors and subsequently to the National Assembly.
• He has worked with major oil & gas companies within and outside Nigeria including the West African Gas Pipeline (WAGP) / West Africa Gas Pipeline Company (WAPco) covering Nigeria, Republic du Benin, Togo, and Ghana by designing and implementing programs that addressed issues of Sustainable Development and Livelihoods in the Niger Delta and West Africa region.
• He advised and collaborated with International Oil companies in the development of the New Community Engagement Strategy, premised on the Participatory Regional Development Model (2005), guided by the Global Memorandum of Understanding (GMoUs). The model was adopted as the industry standard in Community engagement and development by the joint ventures of the National Nigerian National Petroleum Corporation and the Oil companies in the Niger Delta.
• In previous roles, Dr. Akinola was the Director General of the Office of Economic Development and Partnerships (OEDP) between 2011 and 2018. The OEDP was the strategic Think Tank, Policy Advisory, and Implementation agency domiciled in the Office of the Governor. Dr. Akinola played a central role in the activities leading to the establishment of the Development Agenda of Western Nigeria (DAWN) Commission.
• He was Chairman of the Osun State Planning Commission between 2011-2014 and in this capacity collaborated with leading development partners to deliver sustainable development in the State.
• Dr. Akinola was the Founder and Executive Director of Enterprise for Development International (EfDI) between 1999 and 2009. In this role, he coordinated EfDI’s varied consultancy assignments in community economic development in Nigeria, including the expansion of EfDI’s portfolio of development activities in the Niger Delta and the strengthening of local institutions.
• Between 2001 and 2005, Dr. Akinola was the National Coordinator of the Sustainable Tree Crop Program (STCP), a multi-agency, public-private sector effort to facilitate the improvement of smallholder agricultural systems based on tree crops in West Africa with funding from the United States Agency for International Development (USAID) and the Chocolate Industry Worldwide.
• Between 1993 and 1998, Dr. Akinola was the Nigeria Country Director of TechnoServe, a US-based international development organisation that worked in 17 countries in Africa, Latin America, and Eastern Europe.
• He taught at the University of Ibadan in Nigeria from 1984 until 1989 and was on the training and research faculty of the Pan African Institute for Development (PAID) in Buea, Cameroon 1990.
• Dr. Akinola was an Edward S. Mason Fellow at the Harvard Kennedy School of Government and, subsequently, a Fellow at the Harvard Weatherhead Centre for International Affairs (WCFIA). His work focused on Innovation for Economic Development and Governance between 2009 and 2011.
• He is currently a member of the Harvard Kennedy School of Government Dean’s Council.
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Update : Four executive bills, Senate passes two remaining tax reform bills

The Senate has passed the final two of the four major tax reform bills, completing clause-by-clause consideration as it aims to modernise Nigeria’s tax administration framework.
During Wednesday’s plenary, lawmakers began deliberation on the reports of the four executive-sponsored tax bills, successfully passing two and deferring the remaining two to Thursday.
However, all four have now been approved.
The bills include the Joint Revenue Board Establishment Bill, the Nigeria Revenue Service Establishment Bill, the Nigeria Tax Administration Bill, and the Nigeria Tax Bill.
“These four executive bills seek to transform and modernise the tax system in Nigeria,” the Senate stated during the session.
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The following passage, a conference committee has been constituted to harmonise the versions with the House of Representatives. Once aligned, the bills will be forwarded to President Bola Ahmed Tinubu for his assent.
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