Whistleblowing: EFCC Has Recovered N527m – Magu Reveals

SAN FRANCISCO, September 13, (THEWILL) – The Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu has revealed that whistleblowing has led to the recovery of N527, 463, 500, $53, 222, 747, £122, 890 and €547,730.

Magu, who made the disclosures at an interactive session with newsmen in Abuja, said the whistleblowing policy of the President Muhammadu Buhari is revolutionary.

“The whistleblowing policy is designed to encourage citizens to volunteere information that could lead to the recovery of stolen funds in return for a token pay out, not more than five per cent of the total recovered sum, as incentive,” he said.

“Since the policy came on stream, some humongous sums have been recovered by agencies saddled with the responsibility for its implementation.

“Figures released by the Minister of Finance, Mrs. Kemi Adeosun indicate that the government as at May this year had recovered N7.8billion, $278million and £27, 800.

“At the level of EFCC, the lead anti-corruption agency in Nigeria, funds recovered through information provided by whistleblowers is as follows: N527, 463, 500, $53, 222, 747, £122, 890 and €547,730.

“I will like to use this opportunity to assure you all and indeed the Nigerian public that the commission under my leadership will continue to abide by the following code of ethics: That we will continue to put God first

“That the interest of our people is non-negotiable in all our operations;That in the fight against corruption, the Commission, as a creation of the law, will continue to act within the ambit of the law;

“That the commission will continue to be politically neutral in our operations and will go after anybody or institution that we sufficiently believe to have a case to answer; and That the commission will never shield anyone from investigation and prosecution in accordance with law.

“Nonetheless, the Commission is currently collaborating with the Federal Inland Revenue Service (FIRS) and the Asset Management Corporation of Nigeria (AMCON) to investigate and recover funds and properties within the provisions of the laws.

“So far, the Commission has recovered over N35 billion for the FIRS and about N4 billion for the AMCON. Tax liabilities of other institutions running into billions of naira have also been identified and the companies have agreed to pay.

“Furthermore, in an effort to maximize and utilize some of the forfeited properties recovered by the Commission, numerous government agencies have been allocated such properties to be used as offices.

“These magnificent properties are currently housing institutions such as the VAIDS office under the Ministry of Finance, a Unit from the Defence Headquarters, Voice of Nigeria, North-East Initiative and also the Pension Transitional Arrangement Directorate (PTAD). This in a long run will drastically reduce the cost of rental by these institutions.”

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