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Ikoyi Whistleblower rejects N325m, wants N860m – Lawyer

BellaNaija.com

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Ikoyi Whistleblower rejects $325m, wants $860m - Lawyer- BellaNaija

Yakubu Galadima, the lawyer of the whistleblower who alarmed authorities on the money stashed in an Ikoyi property, has told Punch that his client will not be receiving anything less than 5% of the recovered monies.

With $43 million, N23.2 million and £27,800 recovered, the lawyer said his client is entitled to N860 million and not N325 million.

Bolaji Owasanoye, the secretary of the Presidential Advisory Committee Against Corruption, according to Punch, said any whistleblower who assists the government in recovering any amount above N1 billion will receive less than 5%.

He said this at an event organised by Kent University Law School and Human and Environmental Development Agency, titled “Tracking Noxious Funds.” He said:

If you blow the whistle and the government recovers cash, you are entitled to between 2.5 per cent and five per cent. The maximum limit is five per cent.

According to the policy, if you blow the whistle and it is below N500m, you get four to five per cent because the higher the amount that is recovered, the lower the percentage that is given. This is the global best practice.

If the recovery is between N500m and N1bn, you get three to four per cent (commission). If it is N1bn and above, it is 2.5 per cent.

Indeed, there is a clause that we included in the policy to say that the government may determine the amount to be awarded based on other criteria provided that the amount to be awarded doesn’t exceed five per cent.

In other words, the government may actually pay less than 2.5 per cent but nobody can be paid more than five per cent.

Galadima, on the other hand, asked by Punch if his client would receive less than 5%, said “Not at all.”

He added that the exchange rate should be calculated based on the date the money was recovery, and not the present day.

15 Comments

  1. Deleke

    November 26, 2017 at 3:14 pm

    Han han, greedy person. Olofun gigun bi ejo

  2. tunmi

    November 26, 2017 at 3:40 pm

    I don’t feel like doing maths right now but is the issue a percentage issue or a currency issue. Did the legislation specify what currency the whistleblower would be paid in? Naira or the currency of the amount found?

  3. Ade

    November 26, 2017 at 4:24 pm

    Nawa ooo. See how these people are tossing money. 365m and still not satisfied?500k out of that money will pay my school fees and start a business.
    These ones are busy rejecting money upandan…………#whatapity

  4. EJ

    November 26, 2017 at 6:07 pm

    Abeg has he is not a greedy person, let the government be honest, at least for once, and yes 5% in those currency not naira, abi was it naira he found

  5. Kkay

    November 26, 2017 at 8:53 pm

    President Buhari propagates integrity. Please, order your boys to pay 5% in full.
    The whistleblower did his job.

  6. beauty

    November 26, 2017 at 10:09 pm

    Oga u see 325m u still dey complain…

  7. Anonymous

    November 26, 2017 at 10:17 pm

    I’m of the strong view, (considering the fact that the practice of the government has always been dishonesty) the “whistle blower” should take the money (if he/she is ever given that much, 325m) and be good old content.

    This lawyer should try very hard to look out for he’s clients interest because the way he’s zealously claiming his client won’t accept the 325m, don de look like say na e share de bother am pass….

    After all this whistle blowing has been by far the easiest get rich scheme. Take am abeg as they say, at all, at all na e be winch.

  8. Temi Tope

    November 27, 2017 at 12:34 am

    WHY DOES HE HAVE TO RECEIVE MONEY?? IN CIVILIZED AND RULE OF LAW COUNTRY PEOPLE DON’T GET A PENNY… AH AFRICA… WONDERS SHALL NEVER END THERE

    • slice

      November 27, 2017 at 2:49 am

      You lie. People get money. Even for giving tips to catch killers, cash rewards are offered as incentives in every civilized country. For those saying he’s greedy, this is why this country is nit progressing. He’s entitled to the money and should be paid. Agreement is agreement

    • Chichi

      November 27, 2017 at 3:49 am

      Let’s be honest, if it were you, you’d want the money, I know I would. Absolutely! But I think rightly so with the way the naira fluctuates so much it’s only fair he’s paid at the exchange rate of the time he found the money if it was higher then. The difference is huge when we’re talking millions at any currency

  9. Funms

    November 27, 2017 at 9:46 am

    Government probably calculated the percentage in USD correctly, then decided to convert the money to Naira at CBN’s lowest rate! LOL! Dear whistle blower, please collect your USD.

    If we dig very well now, we will find that someone in govt is making money out of this. No be Naija?

  10. Diamond

    November 27, 2017 at 9:59 am

    Why are we even having this conversation? They should pay him his money in full. Is it not in this country that one person loots even more than this money, and even now sef the money will still be re-looted

  11. adelegirl

    November 27, 2017 at 11:46 am

    It’s not about what he “wants” but what the FG’s policy on whistle blowing says. If the FG’s policy says 5%, why are they giving him less than that? That is just plain dishonest on the part of the FG. They have been avoiding giving out this money to the whistleblower. The PACAC Chairman said the reason the FG had not given the money to the whistleblower was because of his mental state – that the money could make him go insane. Such nonsense. Dear FG, give the man his money!

  12. Moniker

    November 27, 2017 at 1:23 pm

    He who wants equity must come with clean hands.
    Let their word be their bond. You don’t know the risk the fellow has put himself through. Maybe they didn’t think someone was going to find such a huge amount of hard currency stashed somewhere. Give him his money. All OF IT IN USD

  13. David

    November 27, 2017 at 2:22 pm

    See in the Western world (certainly in the UK) if ever such cash could be found you would DEFINITELY get ur cash. Mayb not in lump sum, might be in instalments. But d issue here is d real reason Nigeria as a nation will never progress! Wen oga at d top is moving d goalposts after d man has put his neck on the line. Why should he accept less than 5%? This behaviour by d FG will discourage future whistle-blowers. Smh!

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