Employees of banks that stop working to state their assets yearly might get 20 years jail time if convicted by a court.

On Tuesday, your home of Representatives passed for second reading, a costs to amend the teller act, by increasing the jail time for not stating assets annually or failing to declare properly.

The existing act supplies a 10-year jail term for breaching that law. Nevertheless, according to the bill sponsored by Francis Waive from Delta State, the costs looks for to increase the jail time.

In addition, the bill proposes that bankers must keep records of all personnel, including those that have actually left the bank for one year.

While leading the argument, Waive said the bill plans to help reform the banking sector. He specified that it will suppress scams perpetrated by bankers.

He stated “Most of the online scams performed are perpetuated with bank staff as collaborators. And sometimes including staff who are no longer in the work of the bank.”

Uzoma Abonta from Abia State, while speaking on the bill, said owners and other senior management of banks need to be included as personnel. He discussed that senior employees should be covered by the bill.

Opposition to the arrangement of the expense, Rob Tyough regreted the 20 years prison time and the annual declaration of properties. He stated even public workplace holders who declare once in 4 years find it hard.

The bill was passed unanimously when it was put to vote.