Given how high the corruption level in Nigeria is and how much these corrupt individuals have stashed up either in a safe somewhere, in assets or even in an abandoned mud hut in Kaduna, the Federal Government had introduced the Whistle Blowing policy.
The whistle blowing policy was introduced last year and aims to encourage Nigerians to report financial and other related crimes to relevant authorities.
Now there have been rumors about how much Whistle Blowing would actually pay. The government has now explained the benefits that await whistle blowers as it also pledges protection for them.
According to the Minister of Information and Culture, Lai Mohammed, whistle blowers have nothing to fear.
“For those who may have suffered any backlash as a result of the information they provide, their cases will be reviewed and appropriate mitigating actions taken”
“Whistle-blowers have nothing to fear, because the committee has put in place the necessary measures to safeguard those who give useful information. As a matter of fact, whistle-blowers have everything to gain and nothing to lose,” he said.
Speaking about the reward for whistle blowing, he explained
1. Recovery of up to 1 billion Naira will receive 5% of the amount;
2. The reward for any amount between 1 and 5 billion Naira will be 5% for the first 1 billion Naira and 4% of the remaining 4 billion Naira
3. And then for any whistle blowing amount of over 5 billion Naira will attract 2.5% reward.
4. For example, if a whistle-blower provides information leading to the recovery of 10 billion Naira, he or she will receive 5% of the first 1 billion Naira, 4% of the next 4 billion Naira and 2.5% of the remaining 5 billion Naira.