Ikoyi Whistle Blower: I wont Accept Anything Less Than 860 Million Naira



The famous whistle-blower » , who informed the EFCC of the $43m,
N23.2m and £27,800 (N13bn) recovered from an Ikoyi apartment has
rejected a N325million offer from the FG insisting on his five percent
commission of N860m.
In a report by Punch, the whistle-blower's lawyer, Yakubu Galadima
» made this known as he said his client will not accept anything
below the constituted five per cent commission.
When asked if his client would accept anything less than five per cent,
he said, “Not at all.”
Last week, Galadima had stated that the commission his client was
expecting from the Federal Government was five percent of the total
recovered fund, N860m.
The lawyer also stressed that his client's commission should be paid
with the exchange rate at time of recovery and not when commission
was released.
Whistle-blower commission policy
Prof. Bolaji Owasanoye , the Secretary of the Presidential Advisory
Committee Against Corruption, has explained that any whistle-
blower » , who helped the government to recover anything above N1bn
would receive less than five per cent commission.


Owasanoye, who was part of the team that drafted the whistle-blower
policy recently 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. ”



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