BREAKING: Another ‘Important’ Bill Passes Second Reading

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BREAKING: Another ‘Important’ Bill Passes Second Reading

EKO HOT BLOG reports that a bill seeking to raise punishment for insider fraud by bank employees to a 20-year jail term, on Wednesday passed second reading, the House of Representatives say.

POLITICS NIGERIA reports that this development is coming just 24 hours after the Nigerian Senate passed a bill seeking to stop landlords in the Federal Capital Territory (FCT) from demanding advance payment of one-year rent from their tenants, for second reading.

The legislation is titled, ‘A bill for an Act to Regulate the mode of Payment of Rent on Residential Apartments, Office Spaces, etc, in the FCT and for Other Matters Connected Therewith.’

Sponsored by Senator Smart Adeyemi (All Progressives Congress, APC/Kogi-West), the bill was aimed at ending the practice whereby landlords demand a yearly advance payment of rents from their tenants.

Adeyemi said the bill seeks to replace the current annual advance rent payment with monthly payments in arrears. This, according to him, is aimed at making life meaningful for workers who are finding it difficult to pay their house rents.

This newspaper recalls that in November 2021, the Economic and Financial Crimes Commission (EFCC) disclosed in Abuja that most frauds in the banking sector were perpetrated by insider Information, Communication Technology (ICT) employees.

According to the commission, most banking sector fraud it investigated showed that bank employees aided the acts.

This latest raise in jail term is expected to curb the crime.

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Riwan Deola