Settingz321:
I pray the guy won't later beg for 5m

eagleeye2:

I started hearing this 2.5% minimum to 5% maximum after this guy's lawyer opened EFCC yansh.

Ebisco01:
Yakubu Galadima, the lawyer for the whistle-blower, who informed the Economic and Financial Crimes Commission of the $43m, N23.2m and £27,800 (N13bn) recovered from an Ikoyi apartment, says his client will not accept anything below five per cent commission.

Galadima said this during a chat with one of our correspondents on Saturday.

The Secretary of the Presidential Advisory Committee Against Corruption, Prof. Bolaji Owasanoye, at an event on Thursday titled, ‘Tracking Noxious Funds’, which was organised by Kent University Law School and Human and Environmental Development Agency, had 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 had 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.”

However, the Ikoyi whistle-blower’s lawyer told SUNDAY MC EBISCO on Saturday that his client would not accept anything less than five per cent.

When asked if his client would accept anything less than five per cent, he said, “Not at all.”

Galadima had stated last week that the commission his client was expecting from the Federal Government was N860m and not N325m.

He had also stated that the commission should be paid based on the exchange rate at the time the money was recovered and not the current one.

Attempts to get comments from the Ministry of Finance were not successful as calls and a text message sent to the Director of Information in the ministry, Mr. Salisu Dambatta, were not responded to.

Beneficiary to be paid before Thursday, says ministry official

Meanwhile, there are indications that the Ministry of Finance is awaiting the final clearance from the EFCC before it can pay the Ikoyi whistleblower.

Officials in the ministry confided in one of our correspondents that the whistle-blower was expected to be paid before the end of this month.

However, it was gathered that while the ministry was ready to make the payment, the move could be delayed as administrative work was still ongoing on the issue.

The official said the ministry had put in place detailed procedures for processing payments under the whistle-blower policy.

These procedures, according to the official, were designed to prevent abuse, legal disputes and to ensure protection of the information providers.

He stated that the identity of the information provider must be verified, adding that there would be calculation of the amount payable and computation of relevant taxes.

The source stated, “The ministry of finance is not directly involved in the recovery of looted fund; that is the responsibility of the various security agencies.

“Our role is to make payment and you will recall that last week, the finance minister said payment would be made this month to the person who assisted in the recovery of looted funds including the Ikoyi whistle-blower.

“That process is on and final payment can be released when we receive confirmation from the agency that made the recovery before we can know who to pay money to.

“In the case of the Ikoyi recovery, we are talking of the EFCC which is the agency that made the recovery and once they give us final confirmation, payment would be made.”

In a related development, Owasanoye has revealed that violation of the directive regarding the Treasury Single Account by government agencies and officials tops the list of recoveries made from the whistle-blower policy.

Owasanoye said, “As of the end of October, over 5,000 whistles had been blown and about 75 per cent of that came from phone calls. So, you can report on the website, email, text message or phone call.

“What are the things that the various communications have covered? Contract inflation, ‘ghost workers’, payment of unapproved funds, embezzlement of salaries, diversion of excess crude funds, improper reduction of financial penalties, diversion of funds meant for people, placing money in a commercial bank, non-remittance of deduction of pensions or NHIS and failure to implement projects.

“Others include embezzlement of funds received from donors, embezzlement of payment meant for personnel emoluments, violation of TSA which is the highest, violation of FIRS regulations, non-procurement of safety equipment, money laundering, illegal sale of government assets, diversion of IGR which is the second largest, financial misappropriation, concealed bailout funds, mismanagement of micro-finance banks and illegal recruitment.”

http://www.mcebisco.com.ng/2017/11/ikoyi-whistle-blower-rejects-fgs-n325m.html

eagleeye2:

The policy that brought about whistle blowing states 5% of the recovered loot, so how is he greedy. EFCC are the greedy ones.

rusher14:
Whatever the law says is what he must receive.

rusher14:
Whatever the law says is what he must receive.

Settingz321:
I pray the guy won't later beg for 5m

ClitoPen:
Everyone is just greedy

Settingz321:
I pray the guy won't later beg for 5m

He should wait until they begin to say 0.5% because of the cumbersome cumbersomeness or cumbersome size of the money then he will realize what he's loosing


His face after the news

muykem:
325m. This lawyer is very greedy.

hardeycute:
It is a pity that the Government is not willing to fulfill the agreement which is going to discourage people from whistleblowing

What is greed?Asking for the right payment?

If the govt is finding it difficult to honour this then how can they bring about development to the nation ?

ronaldbecky:
greedy hw...the money is 750milla,dat was d deal so y going against d deal...if he collect it..d remaining balance wodnt b paid...dis country is a disgrace...atleast d world is watching...i just pity d guy..if na me i 4 collect dat cash fly out than to blow whistle....corrupt government

hardeycute:
My brother, look at the number of people calling the man a greed on the FP,then you don't need to ask the question on why we have failed to hold our leaders accountable in this part of the World.

The Government that can't stay true to an agreement like that would not find it hard to deprive his citizens of basic amenities and developments

sunnymighty:
He should collect this one first and sue the FG for his balance.

chymer:
That guy, the whistle blower is already in a deep.shit.
There are people you don't rat on, NIA is one of the strongest intelligence unit in Nigeria.

And for the guy to sell them off like that because of the 5% whatever, spell the death knell for him.

Believe it or not, the guy will be neutralised fatally, whether he gets the money or not.

And for those who wear online patriotism like a Chelsea jersey that will jump in to call me corrupt.

CIA have their own stash of cash in every part of the world, which they need for their covert operations. They don't need senate approval when they need to do something to save the country from outside threat.

All these media celebrated inter-agency rivalry, is going to put this our beloved nation into the hands of external aggressors. look at Iran, China, and even USA are always waiting on the wings to cause us some trouble.

Because we live in peace does not mean that the world is peaceful. That whistle blower of a guy did not do what he did out of patriotism. He did it for his own gain.

-_-----------------------
I am not here to defend the DG NIA or his wife, not at all.
And from the little I know about these people, their life is all about secrets.

Some might argue why hide it in a residential apartment, same thing goes for why did Osama Bin Laden hide near a military facility in Pakistan?

bkool7:




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



The higher the money the lesser the %
The best the whistle blower can do is ask for the % was used to pay him

4dor:


You have a point but everything you said would have been correct in a perfect scenario. If it was really NIA cash, how come the NSA, President knew nothing about it? Why did the DG's wife have access to that cash? Unfortunately, the NIA can't neutralize this guy for now simply because everybody is watching.

chillychill:
Am very sure d guy will be feeling bad now for blowing the whistle instead of stealing d money himseff... Money Wey Neva reach him hand him don dey say Na 5per him want. Mucheww d lawyer and him lo ma Jo te.

MrEdimulo82:


Babe, had he stolen it, he wld have been worse off by now.

MrEdimulo82:


Babe, had he stolen it, he wld have been worse off by now.

poseidon12:


NIA is not CIA. The NIA guys are just a bunch of incompetent crooks looking to corruptly enrich themselves. They are not into any intelligence work. There is really no intelligence agency in Nigeria. Nigeria is an open book. The NIA guys cannot do anything. When/if the whistleblowers get their money, the only danger they will face will be the same as the average wealthy Nigerian.
From the Ikoyigate story, the so called NIA was just the crooked Mr Oke and his wife, and probably General Monguno, National Security Adviser. They were just sharing the money and not into any intelligence work.

Ebisco01:
Yakubu Galadima, the lawyer for the whistle-blower, who informed the Economic and Financial Crimes Commission of the $43m, N23.2m and £27,800 (N13bn) recovered from an Ikoyi apartment, says his client will not accept anything below five per cent commission.

Galadima said this during a chat with one of our correspondents on Saturday.

The Secretary of the Presidential Advisory Committee Against Corruption, Prof. Bolaji Owasanoye, at an event on Thursday titled, ‘Tracking Noxious Funds’, which was organised by Kent University Law School and Human and Environmental Development Agency, had 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 had 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.”

However, the Ikoyi whistle-blower’s lawyer told SUNDAY MC EBISCO on Saturday that his client would not accept anything less than five per cent.

When asked if his client would accept anything less than five per cent, he said, “Not at all.”

Galadima had stated last week that the commission his client was expecting from the Federal Government was N860m and not N325m.

He had also stated that the commission should be paid based on the exchange rate at the time the money was recovered and not the current one.

Attempts to get comments from the Ministry of Finance were not successful as calls and a text message sent to the Director of Information in the ministry, Mr. Salisu Dambatta, were not responded to.

Beneficiary to be paid before Thursday, says ministry official

Meanwhile, there are indications that the Ministry of Finance is awaiting the final clearance from the EFCC before it can pay the Ikoyi whistleblower.

Officials in the ministry confided in one of our correspondents that the whistle-blower was expected to be paid before the end of this month.

However, it was gathered that while the ministry was ready to make the payment, the move could be delayed as administrative work was still ongoing on the issue.

The official said the ministry had put in place detailed procedures for processing payments under the whistle-blower policy.

These procedures, according to the official, were designed to prevent abuse, legal disputes and to ensure protection of the information providers.

He stated that the identity of the information provider must be verified, adding that there would be calculation of the amount payable and computation of relevant taxes.

The source stated, “The ministry of finance is not directly involved in the recovery of looted fund; that is the responsibility of the various security agencies.

“Our role is to make payment and you will recall that last week, the finance minister said payment would be made this month to the person who assisted in the recovery of looted funds including the Ikoyi whistle-blower.

“That process is on and final payment can be released when we receive confirmation from the agency that made the recovery before we can know who to pay money to.

“In the case of the Ikoyi recovery, we are talking of the EFCC which is the agency that made the recovery and once they give us final confirmation, payment would be made.”

In a related development, Owasanoye has revealed that violation of the directive regarding the Treasury Single Account by government agencies and officials tops the list of recoveries made from the whistle-blower policy.

Owasanoye said, “As of the end of October, over 5,000 whistles had been blown and about 75 per cent of that came from phone calls. So, you can report on the website, email, text message or phone call.

“What are the things that the various communications have covered? Contract inflation, ‘ghost workers’, payment of unapproved funds, embezzlement of salaries, diversion of excess crude funds, improper reduction of financial penalties, diversion of funds meant for people, placing money in a commercial bank, non-remittance of deduction of pensions or NHIS and failure to implement projects.

“Others include embezzlement of funds received from donors, embezzlement of payment meant for personnel emoluments, violation of TSA which is the highest, violation of FIRS regulations, non-procurement of safety equipment, money laundering, illegal sale of government assets, diversion of IGR which is the second largest, financial misappropriation, concealed bailout funds, mismanagement of micro-finance banks and illegal recruitment.”

http://www.mcebisco.com.ng/2017/11/ikoyi-whistle-blower-rejects-fgs-n325m.html

greatopec:
I quite agree with you but how safe is a safe house when the gateman already knows all