Public Asset Declaration Should Be Made Compulsory- Ex-Finance Minister

A former Minister of State for Finance, Remi Babalola, on Tuesday proposed the expansion of the whistle blowing and fraud protocols by the Economic and Financial Crimes Commission, EFCC, to include payment of 10 percent of the total value of undeclared assets by public officials to whistle-blowers/informants, if successfully prosecuted.

Mr. Babalola said public asset declaration should be made compulsory for all principal officers in the executive arm of government, from the president to the ministers, permanent secretaries, directors-general, and heads of parastatals and agencies to curb the alarming rate of corruption in the country.

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