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FG says whistle-blower policy has led to the recovery of another $151.7m & N8bn from 3 sources

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Lai Mohammed

The Federal Government said it recovered another $151.7 million and N8  billion looted funds from three sources through whistle-blowers.

The Minister of Information and Culture, Lai Mohammed disclosed this in a statement issued on Sunday in Lagos.

Mohammed sad 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 funds.

He said the looted funds do not include the $9.2 million cash allegedly owned
by Andrew Yakubu, a former Group Managing Director of the NNPC.

Mohammed said that that recovery was also as a result of the whistle-blower policy.

“The biggest amount of $136.7 million was recovered from an account in a commercial bank, where the money was kept under an apparently fake
account name.”

“This was followed by N7 billion and $15 million from another person and  N1 billion from yet another,” he said.

The minister reiterated the position of government that there was 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.

“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 $9.2 million by the EFCC, is just a tip of the iceberg,” he said.

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,” he said.

11 Comments

  1. Udegbunam Chukwudi

    February 12, 2017 at 11:48 am

    I’m confused. I thought efcc talk say whistle blower policy hasn’t been signed into law yet.

  2. Vincent

    February 12, 2017 at 11:52 am

    This man has started again!

  3. Lucy

    February 12, 2017 at 12:04 pm

    Lai Mohammed what do you guys in government plan to do with the recovered stolen money to enhance the lives of the masses and prevent future criminals from stealing such an huge amount of money?

  4. Lucy

    February 12, 2017 at 12:05 pm

    Lai Mohammed what do you guys in government plan to do with the recovered stolen money to enhance the lives of the masses and prevent future criminals from stealing such a huge amount of money?

  5. WOG

    February 12, 2017 at 1:08 pm

    Trying to distract us from the unfolding yaraduagate! Where is president Buhari?

  6. nnenne

    February 12, 2017 at 1:18 pm

    The more you recover, the more expensive life becomes. #confused.
    May we not hear about borrowing money again!
    You have recovered trillions.

    • nene+

      February 12, 2017 at 2:05 pm

      The more you guys recover the more you borrow! This govt recorvered more than any in history yet they borrow beyond any other! Jobless govt that locked the entire economy. I want to blow whistle on my grandma who is hiding her monies underground because of bank duty charges and my friends who changed their entire naira into dollars ? and kept in their private safety cos your govt can choose to stop dollar withdrawals anytime you . Your govt is a talking govt. iti boli bo govt!
      In a prosperous govt people spend to get returns but in yours people rescind.
      Anyways until your govt is ready to fight corruption patrons in your party, nene+ has nothing positive about ya all. Mr. Lies may I ask who is managing that portal?

  7. Victor Adegoke

    February 12, 2017 at 2:39 pm

    I pray that this monies recovered will be judiciously used for the masses. Lai Mohammed, let us start seeing the CHANGE that ur administration is preaching to US about. Abeg!

  8. stefini

    February 12, 2017 at 4:59 pm

    my simple question is after all this stolen money has been recovered what do you (FG) do with it?cos this is good money that can help the economy improve but instead with all this cash on hand you guys still want to borrow from other countries which you still unable to return when the time is due…. Oga Lai pls tell us

  9. Nini

    February 12, 2017 at 7:02 pm

    We only hear of large sum of money been recovered but we don’t know what they are used for. I hope they are used to better the lives of ordinary Nigerians

  10. Ogbuefi

    February 12, 2017 at 10:24 pm

    Let me tell you, the guys that are blowing the whistles are probably the ones that were cheated in the racket…. If they got their share, their whistles would still be in the packet. Can we have an account of how the recovered money is being spent?

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