The Ministry of Finance on Wednesday confirmed N375.8 million payment to first batch of 20 people who provided information that led to the federal government recovery of funds under the Whistleblower Policy.
The ministry confirmed that the whistle blowers helped government recover N11.635 billion.
“This payment, which is the first under the Whistleblower Policy, underscores the commitment of the President Muhmmadu Buhari-led administration in meeting obligations to information providers under the Whistleblower Policy,” Kemi Adeosun, Minister for Finance, said in a statement.
“The policy is an essential tool in the fight against corruption,” Adeosun said.
Announced by Adeosun in December last year, the whistle blower policy primarily aims to support the fight against financial crimes and corruption, by increasing exposure of financial crimes and rewarding whistle-blowers.
Under the policy, whistle-blowers are encouraged and offered protection from harassment or intimidation by their bosses or employers, in order to promote such exposure.
The whistle-blower gets between 2.5 per cent (minimum) and five per cent (maximum) of the recovered loot, provided that “there is a voluntary return of stolen or concealed public funds or assets on the account of the information provided”.
The Ministry of Finance had earlier reported that following the approval of the Policy by the Federal Executive Council and its launch in December 2016, the Whistleblower Unit (WBU) received 2, 150 communications and 337 tips through its dedicated channels from many patriotic Nigerians.
“This led to the recovery of substantial assets that were illegally acquired by various individuals,” it stated.
Announcing the latest payments and progress so far, the finance minister disclosed recent amendments to the Whistleblower Policy which includes the introduction of a formal legal agreement between information providers and the Federal Government, which is executed by the Minister of Justice (Attorney-General of the Federation). Procedures have also been introduced to ensure the protection of the identity of information providers during the payment process.
The Minister explained that all payments are taxable and are only made upon confirmation of the final recovery of assets as confirmed by the Attorney-General of the Federation as being free of legal disputes or litigation.
The WBU, a multi-agency team, is resident in Ministry of Finance Headquarters.
“It is staffed by secondees from the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Department of State Services (DSS), the Nigeria Police Force and Presidential Initiative on Continuous Audit (PICA), among others.
“The Whistleblower Unit is the first line of response to whistleblower information, where initial review is undertaken before cases are forwarded to the relevant investigative agencies,” Adeosun said.
Adeosun assured that the Buhari administration Buhari would continue to encourage all Nigerians with information on misconduct, violation or improper activity which could impact negatively on Nigeria to report it to the appropriate authority.
