WHISTLEBLOWING: FG recovers N19bn in two months

The Nigerian Federal Government may have between August and October 2017, recovered N19 billion through its whistle-blowing policy.

This came as the acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, on Thursday disclosed that more than N30 billion looted funds have been recovered since the commencement of the whistle blowing policy.

Recall that the Finance Minister, Mrs. Kemi Adeosun, had in August this year announced that through the whistle-blowing policy that the Federal Government had raked in about N11.6 billion in monies stolen from government.
Of that amount, she had said that some 20 whistleblowers earned about N375.8 million for providing the tips that led to the discovery of the stolen billions of Naira.

Just two months after the disclosure by Adeosun, Magu said on Thursday that “since the commencement of the whistle-blower policy, we have received hundreds of actionable tips that led to the following cash recoveries: N527, 643,500; $53,222,747; GBP 21,222,890 and Euro 547,730.”

This means the Federal Government had recovered about N19 billion stolen funds in the two months in between.
Magu made his disclosure on the recovered looted funds during the launch of the whistle-blower support project tagged, ‘Corruption Anonymous (CORA)’ and organised by the African Centre for Media and Information Literacy (AFRICMIL) in partnership with the MacArthur Foundation.

At the event, Magu said that the anti-graft agency has put in place an enabling ground that allows Nigerians with information to approach EFCC and be confident that the tips they provide would be used effectively.
He said, “I am glad to report that Nigerians have so far been very responsive. We have always treated every tip referred to us with strict sense of responsibility bearing in mind that such undertaking on the part of the whistle-blower is usually a matter of trust and even risk.

Read also: ADEOSUN: FG recovers N11.6bn, pays N375.8m to 20 whistleblowers

“At the same time, we have been careful not to be used by mischief makers who would want to abuse this process. Let me reiterate that just as there is consequence for corruption, there will be consequence for those who want to take advantage of this noble initiative in the fight against corruption to create mischief.

“We have responded to this possibility by developing a water-tight mechanism of both reporting and cross-checking information.”

Chido Onumah, Coordinator of AFRICMIL, who also spoke at the event, said that the current administration’s fight against graft has recorded a huge success with the whistle blowing policy.

 

RipplesNigeria… without borders, without fears

Click here to join the Ripples Nigeria WhatsApp group for latest updates.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now