Bank fraudster to spend 20 year jail term as bill scales second reading in Reps

A proposed 20 year jail term awaits fraudulent bankers as the bill for an Act to amend the Bank Employees Declaration of Assets Act scales second reading in the House of Representatives.

The keenly debated bill sponsored by Rep. Francis Waive on Wednesday, seeks to increase the punishment of bank staff who involve in fraudulent activities on customers’ accounts.

According to the lawmaker, this has become necessary in view of the rampant cases of bank fraud and cybercrime in Nigeria.

Contributing to the debate, a member from Plateau State, Rep. Yussuf Gagdi, noted that bank officials frustrate customers at will due to the absence of legal sanctions.

The deputy minority leader, Toby Okechukwu, maintained that banks should also be held liable for employing fraudsters.

Other lawmakers who contributed, agreed that the Bill will bring back confidence in banking across the country.