Mr. Lai Mohammed, the Minister of Information and Culture, in a recent statement he issued in Lagos, said that the Federal Government has recovered about $151million and N8billion looted funds from three (3) different sources through its whistleblowers policy.
According to Mr. Lai, information given by the whistleblowers to the Office of the Minister of Justice and Attorney General of the Federation led to the recoveries of the funds.
He further stated that the $151million did not include the $9.2million recovered from the house of a former Group Managing Director of the NNPC, Mr. Andrew Yakubu.
“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,” Mr. Lai stated
“This was followed by N7 billion and 15 million dollars from another person and N1 billion from yet another.” He added.
Mr. Lai who noted that the whistleblower policy was yielding fruits few months after its introduction added that there was a primitive and mindless looting of the national treasury under the Ex-President Goodluck Jonathan’s administration.
“The whistle-blower policy is barely two months old and Nigerians have started feeling its impact, how a few people squirreled 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.
Mr. Lai Mohammed noted that the confidentiality of individuals who provides information on looted funds to the authority would be maintained.
He therefore encourages Nigerians to provide any useful information that could lead to the recovery of looted funds, noting that they would be financially rewarded also.
“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 noted