The Federal Ministry of Finance has urged Nigerians not to slacken in the effectiveness of the whistleblower policy.
The finance ministry noted that the interest of the citizens towards whistleblowing has greatly depreciated when compared to the initial disposition to the policy.
Investors King recalls that the Nigerian whistleblower policy was introduced on December 21, 2016 to expose information about fraud, bribery, looted government funds, financial misconduct, government assets and any other form of corruption or theft to the Federal Ministry of Finance.
Speaking at the southwest zonal conference on whistleblower policy held in Lagos, the minister of finance, Zainab Ahmed stressed that interest in the policy is nosediving.
She stated that Nigerians have ceased the voluntary disclosure of fraudulent activities in the country.
The minister, represented by Shehu Shinkafi, permanent secretary (special duties), ministry of finance maintained that the information gotten from whistleblowers has exposed corrupt practices.
She pointed out that the exposures had led to the recovery of cash and non-cash assets, adding that the Integrated Personnel and Payroll Information System (IPPIS) had also been probed.
The information revealed by the whistleblowers is passed on to anti-corruption agencies who then investigate and prosecute offenders.
The minister said, “Interest on the implementation of the policy began to nosedive unlike when it started where there was widespread enthusiasm on the part of Nigerians as they volunteered numerous actionable information.
“Such information or tips were usually referred to the EFCC, ICPC, NFIU or DSS for painstaking investigation.
“Accordingly, there were recoveries both in cash and non-cash assets. The policy also helps in the cleaning up of the Integrated Personnel and Payroll Information System (IPPIS). Similarly, funds maintained outside the treasury single account (TSA) without authorisation by ministries, departments and agencies (MDAs) of the federal government were identified and moved back to the treasury.”
She added that knowledge of the workings and operational modalities of the policy’s implementation is important so that its essence can be achieved.
In his remarks, Lagos state commissioner for finance, Rabiu Olowo advised that whistleblowers must be well protected by enacting relevant laws on their protection through the national assembly.
He added that financial incentives will also encourage Nigerians to speak up.