Whistle Blowers to Get 5% of Recovered Looted Fund

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(Last Updated On: 2016-12-22)

Olumide Lawal


The Federal Executive Council (FEC) has approved a whistle blower policy that would allow Nigerians provide information about any corrupt practice in the country, with such individual receiving five per cent of the looted fund when recovered.

The Minister of Finance, Kemi Adesina,who was accompanied by his Information counterpart, Lai Mohamamed and Minister of Power, Works and Housing, Babatunde Fashola, briefed State House correspondents at end of FEC meeting chaired by President Muhammadu Buhari.

Adeosun said the programme was designed to encourage anyone with information about a violation, misconduct or improper activity that impacts negatively on Nigerians and government to report such.

She said: “If there is a voluntary return of stolen or concealed public funds or assets on the account of the information provided, the whistleblower may be entitled to anywhere between 2.5% (Minimum) and 5.0% (Maximum) of the total amount recovered.

“You must have provided the government with information it does not already have and could not otherwise obtain from any other publicly available source to the government.”

The minister added that the programme, would increase exposure of financial related crimes, support fight against financial crimes and corruption, improve level of public confidence in public entities, enhance transparency and accountability in management of public funds.

Adeosun added that it would also improve Nigeria’s open government ranking and ease of doing business indicators and recovery of public funds to finance the country’s  infrastructural deficit.



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