The federal government has successfully recovered the sum of N83,019,178,375.86; $609,083,391.91, and €5,494,734.71 since the introduction of its whistleblowing policy in 2017.
The achievement was seen as a testament to the effectiveness of the policy and the contributions of patriotic citizens who provided valuable information.
Speaking at a sensitisation workshop on the implementation of the whistleblowing policy, the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, disclosed that President Bola Tinubu is preparing to re-present “the Whistleblowing Bill to the National Assembly for legislative action.”
He urged the public to support the expeditious passage of the Bill into law.
Edun emphasised the government’s commitment to implementing the present administration’s agenda and ensuring a robust legal framework to drive the implementation of the whistleblowing policy. He stressed that the policy is aimed at ensuring accountability of public institutions and promoting good governance.
The minister assured the public that “the government values the right to privacy and protection of every Nigerian” and that “the whistleblowing policy is not intended to witch-hunt but rather to safeguard the nation’s resources for development”.
He reiterated the government’s commitment to protecting whistleblowers from reprisals and ensuring confidentiality in handling their reports.
The Permanent Secretary of Special Duties at the Ministry of Finance, Mr. Okokon Ekanem Udo, acknowledged that the implementation of the policy has faced challenges. He emphasized the need to reinforce and sustain the initial enthusiasm that greeted the policy’s introduction.
Mr. Yusuf Sule, the Director of the Presidential Initiative on Continuous Audit (PICA), stated that “the recovered funds represent only liquid assets and do not include non-movable properties or vehicles. He noted that all recoveries are paid into the FGN Assets Recovery Account maintained by the Office of the Accountant-General of the Federation (OAGF) and domiciled in the Central Bank of Nigeria (CBN).
To encourage whistleblowing, the government offers rewards. From one naira to a billion naira, there is a reward of five percent of the recovered sum, from one billion Naira to five billion Naira there is a four percent reward on the recovered amount, and for recoveries exceeding five billion Naira, the whistleblower will get to keep two percent of the recovered amount. “Whistleblowers are entitled to a percentage of the recovered funds, with the percentage varying based on the amount recovered.”
Credit: thenationonlineng.net
