In the new Act, what are the provisions with respect to sanctions and penalties of for unprofessional conduct?
We do have a Disciplinary Tribunal embedded in the Act. But, I must warn that the institute can’t do it alone. To begin with, there must be a formal report of misdemeanor by a banker. Our investigation panel will look at such issues and where the accused is found guilt there are stipulated sanctions. I must also tell you that the Act has not empowered the institute to prosecute anybody. Section 14 (8) of the CIBN Act 2007 provides that “A person whose name is struck off the register in pursuance of a direction of the Disciplinary Tribunal shall not be entitled to be registered again, except, in pursuance of a direction in that behalf and a direction under this section for the striking off of a person’s name from the register prohibits him from making an application for membership or restoration of his membership until after the period specified by the direction that his name should remain struck off, and if he makes an application during the currency of the prohibition such an applicat
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