Monday, 13 February 2017


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.

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