The lawyer of the whistle blower, Yakubu Galadima has stated that his client, who informed the EFCC of the $43m, N23.2m and £27,800 (N13bn) recovered from an Ikoyi apartment has said that his client would accept nothing less than 5% from the money
recovered. However, the Secretary of the Presidential Advisory Committee Against Corruption, Prof. Bolaji Owasanoye on Thursday at an event has said that any money above N1 billion will receive a percentage less than 5%. Owasanoye was part of the team that created the whistle-blower policy. According to him,
“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 whistle-blower however insists according to Punch that his percent from the money recovered would be 5% and it would be calculated based on the exchange rate that was available when the money was recovered.
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