The Federal Executive Council (FEC) yesterday approved a
whistleblowing policy to expose fraud and other related crimes in both
the public and the private sectors.
Also yesterday, FEC approved the outline business case for discussions
on the concession agreement that will facilitate private capital for the
conclusion of work on the Second Niger bridge.
Finance Minister Kemi Adeosun disclosed this to State House reporters
after the FEC meeting chaired by President Muhammadu Buhari.
In order to encourage Nigerians to key into the whistleblowers’
scheme, Adeosun 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 per
cent (minimum) and 5.0 per cent (maximum) of the total amount
recovered.”
She said the policy devised by her ministry was aimed at encouraging
anyone with information about a violation, misconduct or improper
activity that impacts negatively on Nigerians and government to report
it.
According to her, the policy’s objective is to increase exposure of
financial or financial related crimes; support the fight against
financial crimes and corruption; improve the 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 recover public funds that can
be deployed to finance Nigeria’s infrastructure deficit.
She listed information that could be submitted 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 revenue; fraudulent and
unapproved payments; splitting of contracts; procurement fraud
(kickbacks and over-invoicing etc.).
The ministry defines a whistleblower as any person who voluntarily
discloses information in good faith about a possible misconduct or
violation that has occurred, is ongoing, or is about to occur.
The minister, who noted that there was a secure online portal where
information could be submitted, said: “If you have already submitted
your information, you can also check the status of your report on the
portal.”
She however said that the policy would not apply to personal matters concerning private contracts or agreements.
She said whistleblowers could submit their information through the online portal by e-mail or by phone.
On whether a whistleblower is entitled to a financial reward, she
responded: “It depends, 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 per
cent (minimum) and 5.0 per cent (maximum) of the total amount recovered.
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