Some Whistle-Blowers Will Not Be Paid 5% Of Recovered Loot – Sagay

Some Whistle-Blowers Will Not Be Paid 5% Of Recovered Loot – Sagay

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Itse Sagay, Corrupt, Event
Professor Itse Sagay (SAN) | The Trent

Itse Sagay, the chairman of the Presidential Advisory Committee Against Corruption, PACAC, on Friday, April 13, 2018, stated that a whistleblower can get as low as one percent commission if the recovered loot “is an extremely large amount.”

This is lower than the 2.5 percent stipulated by the whistleblower policy, which was introduced in 2016 to help in the fight against corruption.

The Minister of Finance, Kemi Adeosun had last month revealed that approximately N9.12 billion has been recovered from its whistleblowing policy since it came into effect, giving a breakdown of the recoveries as N7.8 billion, $368 million, and £27,800.

But speaking at an evaluation workshop organised by PACAC regarding the Whistleblower policy, Sagay stated that the reward given to a whistleblower could be lower than what the policy specifies.

According to him, “Nigerians should be aware that not every whistleblower is entitled to five percent.

“One controversial issue in the whistleblowing policy is the question is remuneration. The public seems to be fixated on the five percent which is the maximum. It can be as little as one percent.

“If it is an extremely large amount, the whistleblower cannot receive up to five percent, for instance the $43 million recovered in Ikoyi. It can be as low as one percent.”

On whether the federal government has any incentive for whistleblowers in cases not involving funds, the PACAC chairman said:

“I think a fund will be created for that; a separate fund. So that those who give information on such practices will get a reward.”

He added: “As we know, a lot of whistleblowers exposed quite a number of looters. There have been others which have not received the same publicity as that of Ikoyi.

Read more at Daily Post



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