The Federal Executive Council chaired by President Muhammadu Buhari inside the Council Chamber of the Aso Rock Villa, on Wednesday, approved a new policy on whistle blowing that aims to encourage Nigerians to report financial and other related crimes to relevant authorities.
The highlight of the new policy by the Federal Government is that whistleblowers whose revelations lead to recovery of money will be entitled to as much as 5% of the recovered sum.
Announcing the new policy to State House correspondents after the FEC meeting, the Minister of Finance, Kemi Adeosun, said the policy is being put in place “in conjunction with the Attorney General of the Federation and Minister of Justice”.
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.”
Adeosun who disclosed that the policy is a stop gap initiative until the National Assembly formally passes a law on whistle blowing, added that the new programme encourages Nigerians with information on financial crimes to disclose it.
Speaking further, she said the aim is to strengthen the fight against corruption by the Buhari administration, adding that anyone who provides information leading to the recovery of fund will be entitled to not more than 5% of the recovered sum.
Ms. Adeosun said the government will set up a website and provide a phone number and email for people to use, adding that anonymity and protection of whistleblowers will also be guaranteed.