Sagay: Whistleblowers CANNOT get 5% of recovered loot if it’s an extremely large amount

Itse Sagay, chairman of the presidential advisory committee against corruption (PACAC), says a whistleblower can get as low as one percent commission “if it is an extremely large amount”. 

This is lower than the 2.5 percent stipulated by the whistleblower policy.

Under the policy introduced in 2016 to fight corruption, an individual who gives information on financial crimes is entitled to between 2.5 and 5 percent of the recovered loot.

But speaking at an evaluation workshop organised by PACAC regarding the policy, Sagay said the reward could be lower than what the policy specifies.

He said: “Nigerians should be aware that not every whistleblower is entitled to five percent.

“One controversial issue in the whistleblowing policy is the question is remuneration. The public seems to be fixated on the five percent which is the maximum. It can be as little as one percent.

“If it is an extremely large amount, the whistleblower cannot receive up to five percent, for instance the $43m recovered in Ikoyi. It can be as low as one percent.”

When asked if the government has any incentive for whistleblowers in cases not involving funds, he said: “I think a fund will be created for that; a separate fund. So that those who give information on such practices will get a reward.”

He added: “As we know, a lot of whistleblowers exposed quite a number of looters. There have been others which have not received the same publicity as that of Ikoyi.

“But since then, definitely there has been a slight reduction in the frequency of whistleblowing. We want to use this dialogue to assure potential whistleblowers that not only will they get their remuneration but they are also going to be protected.”

Kemi Adeosun, minister of finance, also reiterated that the federal government has so far recovered a total of N143 billion from whistleblowing.

Represented by MK Dikwa, head of the whistleblower unit at the ministry, she said 8,373 enquiries, including 1231 financial tips, have been received.

“While we view the policy as being successful, there is still much work to be done,” the minister said.