Bank workers to blow whistle on stashed funds

President of Association of Senior Staff of Banks, Insurance and Financial Institutions, Comrade Oyinkan Olasanoye, has enjoined members of the association in the insurance and banking sector not to shy away from taking part in blowing the whistle on any person or persons known to be involved in cash racketeering. 

Olasanoye said this had become imperative in order to save the nation’s system from the liquidity crisis confronting it. 

He said, “We urge our members as well as other players in the financial service industry to support the war on corruption in whatever capacity we can in order to save our nation and ensure a more viable financial system and better society.

“As a responsible association, we can safely say that if all such funds are in the banking system today, the liquidity position will be different.

“That ASSBIFI shall continue to support the efforts of government to rid the financial system of corruption at all levels.”

She appealed to the Federal Government to go beyond the financial reward to whistleblowers, and put in place laws that would protect them against any form of retaliation.

The ASSBIFI president advocated the need for anti-corruption agencies to intensify efforts in preventive activities by working hand in hand with the financial system operators and regulators in ensuring that access to such cash was prevented at the commercial banks and the Central Bank of Nigeria.

She also advised the federal government to employ proactive approach to anti-corruption as against the present reactionary trend.

”The people shall desire to see a more diligent prosecution of corruption cases and a stem in the tide of corruption cases being lost to lack of diligent prosecution,” Olasanoye added.