The federal republic of Nigeria has however, showed that the policy that has to do with whistle blowers is actually working.
Be that as it may, I hope shading more light into the policy would serve a great deal of good to whoever cares to know more about the policy.
Nevertheless, Kemi Adeosun, who is the honourable Minister of Finance has stated clearly what the primary aim of whistle blower policy is.
According to her, the aim of the policy is simply about supporting the government in its fight against corruption and financial crimes in the country.
The policy seeks to increase the rate at which financial crimes are exposed, and as well, rewards whistle blowers in the country.
The policy also seeks to make sure that the works of whistle blowers are encouraged by protecting the interest of whistle blowers and save them from intimidation and harassment from those who are exposed by them.
One major advantage of this policy is that, it will discouraged financial crimes, and as well, make provision for recovery of already looted funds in Nigeria, even as it will encourage provision of information associated with corrupt practices.
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Who is a Whistle Blower?
A whistle blower is an individual who has decided on his volition to disclose information to the government of the federal republic of Nigeria, through a Federal Ministry, the Ministry of Finance.
Information expected from whistle blowers is a kind of information that has happened, or about to happen or is ongoing and must have to do with misconduct and improper activities capable of impacting the Nigerian economy negatively. Such information must be of public interest.
What Are The Selling Points Of The Policy?
The selling points of the policy include the following:
1. Its potency of increasing accountability in government, as well as encouraging transparency in the management of public money.
2. Its potency at ensuring that, more stolen funds are recovered, and that, the discovered money are deployed for the funding of infrastructural deficit in Nigeria.
This is quite important because once there is accountability and transparency in the business of government, the likelihood is that Nigeria will become one of the nations of the world that will be ranking high on the scale of openness and in business activities.
Besides Nigeria is likely to also become a corruption-free nation and by the time Nigeria attains this status there would be that possibility where the country will naturally attract foreign investors in their numbers to come and do business in Nigeria.
Where To Submit Your Information
Your information can be submitted to the federal ministry of finance. And this can be done through the Ministry’s whistle blowing online portal.
What Are The Components Of The Whistle Blowing Policy?
There are some components found in the whistle blower policy and they are three in number, and I will also be explaining them in this article. Below are these components:
a. Types And Channels Of Information
The first component of the whistle blowers policy is the channels by which all information reported come through. More so, the type of information to be reported is also taken into consideration.
Interestingly, there are various channels made available for the purpose of sending in information from whistle blowers.
Whoever with information that is true, and correct and authentic, so far, such information has to do with the violation, and misconduct, and improper activity that can possibly impact the Nigerian government, its economy and its people negatively. And these information are expected to come through one of the available channels.
However, improper activities or misconducts etc include the following but not limited to mismanagement of public money or misappropriation of government funds, including assets; it can also be financial fraud and financial malpractices; others are collection of bribes as well as soliciting for bribes.
Diversion of funds and fraudulent/unapproved payments and procurement fraud remained some of these misconducts and violations.
b. Whistle Blowers’ Rewards
There is rewards for every fraud reported. The whistle blowers are encouraged with some rewards. Their rewards ranged from 2.5 percent for minimum and 5 percent for maximum.
These percentages are paid from the total loot recovered, provided the authority has been able to collect such funds back, or provided the looters of their own volition have return the stolen funds and the concealed public money looted, including the assets as relates to the information provided by the whistle blowers.
Although, I am not quite certain on exactly how the total loot would be calculated and shared to the whistle blowers. Nonetheless, the policy is not very clear as to the sharing of the recovered loot, should the looter is convicted.
Another component of the whistle blowers policy has to do with the protection of the whistle blowers. There is this assurance in the policy, which as a result, has encouraged the whistle blowers to report any fraud with the assurance that, their interest would be protected.
Be that as it may, there is a provision that empowered the whistle blowers to file in formal complaints, if he thinks or feels that he is cheated or treated wrongly, after providing such reports.
More so, there is provision, which allowed for whistle blowers who suffered harassment, and intimidation and victimization, because of the information he had shared to be restituted by the authority.
Yes such losses would be taken care of, should such issue arises. And I believed that there is specification of the details of this restitution in the policy.
Having said that, it is important that before anyone blow any whistle with an expectation that he would be protected, and as well, be compensated, let him first understand, it is necessary for him to make sure that, indeed, the federal government has enacted the whistle blower policy.
And this policy must be backed by law. Except the whistle blower policy is backed by law, it will remained handicapped. Perhaps, this is why most Nigerian are expressing some sort of fear with respect to the fate of the policy.Click here to see the latest Study Abroad Scholarships and Guides
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