FG PAYS N3BN TO INFORMANTS ON LOOTED FUNDS,RECOVERS $151M,N8BN



The Federal Government said its policy on whistle-blowing has started yielding results as it recovered US$151 million and N8billion in looted funds so far.

Minister of Information and Culture, Alhaji Lai Mohammed disclosed this in a statement issued in Lagos yesterday.

Alhaji Mohammed said the looted funds, did not include the $9.2 million in cash allegedly owned by a former Group Managing Director of the NNPC, Andrew Yakubu also said to be recovered through a whistle-blower.

He said the funds “were recovered from just three sources through whistle-blowers who gave actionable information to the office of the Minister of Justice and Attorney-General of the Federation.”

According to the statement, the biggest amount of $136,676,600.51 was recovered from an account in a commercial bank, where the money was kept under a fake account name, followed by N7billion and $15 million and another N1billion from different persons.

The Minister reminded Nigerians of the financial reward aspect of the policy, saying “If there is a voluntary return of stolen or concealed public funds or assets on the account of the information provided, the whistle blower may be entitled to anywhere between 2.5% (Minimum) and 5.0% (Maximum) of the total amount recovered.”

Currently ,over N3bn has been paid to those that gave information towards the recovery of these funds.

CKN NEWS

Chris Kehinde Nwandu is the Editor In Chief of CKNNEWS || He is a Law graduate and an Alumnus of Lagos State University, Lead City University Ibadan and Nigerian Institute Of Journalism || With over 2 decades practice in Journalism, PR and Advertising, he is a member of several Professional bodies within and outside Nigeria || Member: Institute Of Chartered Arbitrators ( UK ) || Member : Institute of Chartered Mediators And Conciliation || Member : Nigerian Institute Of Public Relations || Member : Advertising Practitioners Council of Nigeria || Fellow : Institute of Personality Development And Customer Relationship Management || Member and Chairman Board Of Trustees: Guild Of Professional Bloggers of Nigeria

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