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| Kemi Adeosun - Nigeria's Finance Minister. |
The Federal Executive Council (FEC) yesterday approved the payment of 5 per cent of recovered looted fund to the whistle blower behind the recovery.
Minister of Finance Kemi Adeosun briefed State House correspondents at the end of the FEC meeting chaired by President Muhammadu Buhari.
With her were the Minister of Information Lai Mohammed and Minister of Power, Works and Housing Babatunde Fashola.
According to her, the programme is designed to encourage anyone with information about a violation, misconduct or improper activity that impacts negatively on the Nigerian people and Government to report it.
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.” She said
The programme, she said, would increase exposure of financial or financial-related crimes; Support the fight against financial crimes and corruption; Improved level of public confidence in public entities; Enhance transparency and accountability in the management of public funds; Improve Nigeria’s Open Government Ranking and Ease of Doing Business Indicators; and Recovery of public funds to finance Nigeria’s infrastructure deficit.
Stressing that a whistle blower is any person who voluntarily discloses information in good faith about a possible misconduct or violation that has occurred, is on-going, or is about to occur.
She said such information can be submitted on a secure online portal by e-mail or by phone.
The minister listed examples of information that can be submitted on the portal to include Mismanagement or misappropriation of public funds and assets (e.g. properties and vehicles), Financial malpractice or fraud, Collecting / soliciting bribes, Corruption: Diversion of revenues, Fraudulent and unapproved payments, Splitting of contracts, and Procurement fraud (kickbacks and over-invoicing etc).
Stating that not all type of information could be submitted on the portal, she said: “The programme does not apply to personal matters concerning private contracts or agreements.
Noting that all members of the public can submit information to the Whistleblowing Portal, she said that the informant does not have to disclose his or her identity while providing information.
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