The federal government has recovered more than N83 billion, $609 million and €5.4 million in liquid assets between 2017 and 2023 through the introduction of the whistle blowing policy.
The director, presidential initiative on continuous audit (PICA), ministry of finance, Mr Yusuf Sule, disclosed at a sensitisation workshop on ‘The Implementation of the Whistle blowing Policy in Nigeria: Issues, Challenges and Way Forward’ held yesterday in Abuja.
He said all the recoveries were lodged in the government’s Assets Recovery Account maintained by the office of the accountant general of the federation and domiciled in the Central Bank of Nigeria (CBN).
“Following a useful tip by a whistle-blower in 2017, EFCC raided and successfully recovered the sums of $ 43.5 million, 27,800 pounds, and N23.2 million in Lagos (Flat 7b, No 16, Osborne Towers) in 2017.
“As proof of whistle blowing success story, which is attributable to the cooperation from patriotic members of the society who volunteered useful information, the earlier celebrated case of whistle blowing in Nigeria led to the recovery of the sums of N70,925,225,642.95, $9,777,439.99, and £21,500.00,” he said.
Sule explained that the responsibility for coordinating the policy rest with the minister of finance, while PICA serves as the secretariat.
He identified other critical stakeholders as the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and other Related Offences Commission (ICPC), Department of State Services (DSS), federal ministry of justice, Nigerian Financial Intelligent Unit (NFIU), and Nigeria Police.
He stated that the policy was launched to encourage the citizenry to take ownership of the fight against corruption, rather than leaving it in the hands of the anti-graft agencies alone.
Sule added that the launch of the whistle blowing policy had been received with great enthusiasm by patriotic Nigerians, home and abroad, suggesting that it was long-awaited.
However, he lamented that the otherwise laudable policy had been beset by several challenges, including lack of involvement by citizens, the culture of silence, and the absence of a legal framework. He said at present, there was no legislation of the national assembly backing the policy.
