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

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

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


His face after the news

I pity these guy

Better collect the money now before Bubu change his mind

Everyone is just greedy

Banky w's through with his wedding so nairaland is back to whistleblowing

This guy should just collect that money now or regret it forever. If Bubu vex now e nor go see 1 naira.

Why are they even paying whistle blower when they have not been able to successfully prosecute the case?

325m. This lawyer is very greedy.

Half bread is better than none.

Oga lawyer, you are in Nigeria not Europe. I hope 'if i had known ' don't come your way.

Who is his whistle blower?

Cooked story. What a Government of lies and propaganda.

A mysterious Whistle blower , a
mysterious money and Ikoyi mysterious House.

1. How did the whistle blower know there was money in that building??

2. Buhari and APC boys want to tell us they still don't know who owns the Ikoyi house where the was found??

Please you guys should stop disturbing us with this Ikoyi house nonsense.

I bet that guy is not an igbo.
Because a typical igbo will collect the #325m or even less sef

At the end of the day if una see 5 million naira then we thank God for una

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

He might eventually beg for action bitters and one white london if care is not taken, Nigeria govt officials are fantastically corrupt and can do anything

The guy need to change his lawyer

The insincerity of APC at play

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?

But why

y'all should stop blowing whistle. Nigeria is a failed country.

Greedy fellow... Money he didn't work for

I don't care if this guy is patriot or not, but EFCC should stop making a mockery of the whistle blow policy. Let them keep to agreement.

This policy will soon die

AFONJACOW:
Greedy fellow... Money he didn't work for

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

I will rather implore him to collect the money like that but the lawyer won't allow him due to greed...

Villagers are just wicked!!!


Possibly, writing jamb exam with his sense.

This guy will end up getting nothing.
He should know that the FG is not rational nor considerate in its decisions.

ClitoPen:
Everyone is just greedy

Reason why Africa is Under developed

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.