The Central Bank of Nigeria (CBN) has mandated its employees to declare connections with Politically Exposed Persons (PEPs) and disclose close relatives employed by the bank.
The directive, issued through a memo from Deputy Director Christian Eze, defines close relatives as spouses, children, siblings, parents, and half-siblings. The bank emphasized the inclusion of cohabiting partners in the spousal category.
Staff with relatives employed at the Apex bank or those linked to PEPs are required to complete a form by November 10, 2023. The move follows previous criticism of the CBN for undisclosed hiring practices favoring family members of high-profile individuals.
This disclosure request aligns with an ongoing investigation led by Special Investigator Jim Obazee, appointed by Bola Tinubu. The investigation aims to enhance transparency, address corruption, and strengthen Government Business Entities (GBEs). The Central Bank had earlier issued guidance on managing risks associated with PEPs.