The federal government has announced that any whistle-blower whose information leads to the recovery of up to N1 billion to N5 billion will receive 5% for the first N1 billion and 4% of the remaining N4 billion.
The minister of Information and Culture, Alhaji Lai Mohammed disclosed this in a statement on Sunday, March 19 where he stated that any amount over N5 billion will attract 2.5% reward.
By implication a whistle-blower on N5bn recovery will make N50 million from the first N1bn and N160million from the remaining N4 billion making a total of N210million.
Mohammed said the government will protect the identity of all whistleblowers, whether in the public or the private sector by keeping information they provide secret adding that cases of those who may have suffered backlash as a result of the information they provided will be reviewed and appropriate mitigating actions taken.
Whistleblowers 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.
What we have done by making this information public is to reassure potential whistleblowers that the plan to reward is real. We are not just saying we will pay all whistleblowers, but we are letting them know in advance what they are entitled to, once the information they provide leads to the recovery of looted funds.