Federal Government said it recovered another
$151m and N8bn looted funds from three
sources through whistle-blowers.
The Minister of Information and Culture, Alhaji
Lai Mohammed, in a statement issued on Sunday
in Lagos, said actionable information given by
whistle-blowers to the office of the Minister of
Justice and Attorney-General of the Federation
led to the recovery of the looted fund.
He said the looted funds do not include the
$9.2m in cash allegedly owned by a former
Group Managing Director of the NNPC, also a
dividend of the whistle-blower policy.
He said, “The biggest amount of $136.7m was
recovered from an account in a commercial bank,
where the money was kept under an apparently
fake
account name.
“This was followed by N7bn and $15m from
another person and N1bn from yet another.”
The minister reiterated the position of
government that there was a primitive and
mindless looting of the national treasury under
the last administration.
He said the whistle-blower policy has started
yielding fruit, few months after its adoption by
the government.
He said, “The whistle-blower policy is barely two
months old and Nigerians have started feeling its
impact, how a few people squirrelled away public
funds.
“It is doubtful if any economy in the world will
not feel the impact of such mind-boggling
looting of the treasury as was experienced in
Nigeria.
“Yet whatever has been recovered so far,
including the $9.2m by the EFCC, is just a tip of
the iceberg.”
The minister appealed to Nigerians with useful
information on looted funds to continue to
provide the authorities with such information,
saying confidentiality will be maintained with
regards to the source of the information.
He also reminded Nigerians of the financial
reward aspect of the policy.
“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 per
cent (Minimum) and 5.0 per cent (Maximum) of
the total amount recovered.”
(NAN)
Federal Government said it recovered another
$151m and N8bn looted funds from three
sources through whistle-blowers.
The Minister of Information and Culture, Alhaji
Lai Mohammed, in a statement issued on Sunday
in Lagos, said actionable information given by
whistle-blowers to the office of the Minister of
Justice and Attorney-General of the Federation
led to the recovery of the looted fund.
He said the looted funds do not include the
$9.2m in cash allegedly owned by a former
Group Managing Director of the NNPC, also a
dividend of the whistle-blower policy.
He said, “The biggest amount of $136.7m was
recovered from an account in a commercial bank,
where the money was kept under an apparently
fake
account name.
“This was followed by N7bn and $15m from
another person and N1bn from yet another.”
The minister reiterated the position of
government that there was a primitive and
mindless looting of the national treasury under
the last administration.
He said the whistle-blower policy has started
yielding fruit, few months after its adoption by
the government.
He said, “The whistle-blower policy is barely two
months old and Nigerians have started feeling its
impact, how a few people squirrelled away public
funds.
“It is doubtful if any economy in the world will
not feel the impact of such mind-boggling
looting of the treasury as was experienced in
Nigeria.
“Yet whatever has been recovered so far,
including the $9.2m by the EFCC, is just a tip of
the iceberg.”
The minister appealed to Nigerians with useful
information on looted funds to continue to
provide the authorities with such information,
saying confidentiality will be maintained with
regards to the source of the information.
He also reminded Nigerians of the financial
reward aspect of the policy.
“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 per
cent (Minimum) and 5.0 per cent (Maximum) of
the total amount recovered.”
(NAN)
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