The Federal Government said it recovered another 151 million dollars and
\nN8 billion looted funds from three sources through whistle-blowers.<\/p>\n
The Minister of Information and Culture, Alhaji Lai Mohammed disclosed
\nthis in a statement issued on Sunday in Lagos.<\/p>\n
Mohammed sad actionable information given by whistle-blowers to the office
\nof the Minister of Justice and Attorney-General of the Federation led to
\nthe recovery of the looted fund.<\/p>\n
He said the looted funds do not include the 9.2 million dollars in cash
\nallegedly owned by a former Group Managing Director of the NNPC, also a
\ndividend of the whistle-blower policy.<\/p>\n
\u201cThe biggest amount of 136.7 million dollars was recovered from an account
\nin a commercial bank, where the money was kept under an apparently fake
\naccount name.<\/p>\n
\u201cThis was followed by N7 billion and 15 million dollars from another
\nperson and N1 billion from yet another,\u201d he said.<\/p>\n
The minister reiterated the position of government that there was a
\nprimitive and mindless looting of the national treasury under the last
\nadministration.<\/p>\n
He said the whistle-blower policy has started yielding fruit, few months
\nafter its adoption by the government.<\/p>\n
\u201cThe whistle-blower policy is barely two months old and Nigerians have
\nstarted feeling its impact, how a few people squirrelled away public
\nfunds.
\nIt is doubtful if any economy in the world will not feel the impact of
\nsuch mind-boggling looting of the treasury as was experienced in Nigeria.<\/p>\n
\u201dYet whatever has been recovered so far, including the 9.2 million dollars
\nby the EFCC, is just a tip of the iceberg,\u201d he said.<\/p>\n
The minister appealed to Nigerians with useful information on looted funds
\nto continue to provide the authorities with such information, saying
\nconfidentiality will be maintained with regards to the source of the
\ninformation.<\/p>\n
He also reminded Nigerians of the financial reward aspect of the policy.<\/p>\n
\u201dIf there is a voluntary return of stolen or concealed public funds or
\nassets on the account of the information provided, the whistle blower may
\nbe entitled to anywhere between 2.5 per cent (Minimum) and 5.0 per cent
\n(Maximum) of the total amount recovered,\u201d he said. (NAN)<\/p>\n","protected":false},"excerpt":{"rendered":"
The Federal Government said it recovered another 151 million dollars and N8 billion looted funds from three sources through whistle-blowers. The Minister of Information and Culture, Alhaji Lai Mohammed disclosed…<\/p>\n","protected":false},"author":1,"featured_media":51639,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-56090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\n