FG Recovers N83bn, $609m Through Whistleblowing Policy, Says Edun

The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, disclosed this during a sensitization workshop on the implementation of the whistleblowing policy.

Abuja, Nigeria – The Federal Government of Nigeria has successfully recovered over N83 billion, $609 million, and €5.4 million since the inception of its whistleblowing policy in 2017.

This achievement underscores the effectiveness of the policy and the vital role played by citizens in providing critical information.

The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, disclosed this during a sensitization workshop on the implementation of the whistleblowing policy.

He revealed that President Bola Tinubu is set to re-present the Whistleblowing Bill to the National Assembly, urging swift legislative action on the matter.

Edun emphasized the government’s commitment to ensuring a robust legal framework that supports the current administration’s agenda, aiming to enhance accountability within public institutions and promote good governance.

“The whistleblowing policy is designed to protect national resources for development, not to target individuals unjustly,” Edun assured, stressing the importance of confidentiality and protection for whistleblowers.

Mr. Okokon Ekanem Udo, Permanent Secretary of Special Duties at the Ministry of Finance, recognized that although the policy has faced obstacles, it’s essential to revive the initial excitement and momentum that accompanied its launch.

Mr. Yusuf Sule, Director of the Presidential Initiative on Continuous Audit (PICA), clarified that the recovered funds reflect only liquid assets, excluding non-movable properties and vehicles.

He added that all recovered assets are deposited into the FGN Assets Recovery Account, managed by the Office of the Accountant-General of the Federation (OAGF) and housed in the Central Bank of Nigeria (CBN).

To incentivize whistleblowing, the government offers rewards based on the amount recovered: five percent for sums up to N1 billion, four percent for amounts between N1 billion and N5 billion, and two percent for recoveries exceeding N5 billion.