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 Punch 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 PUNCH 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.
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.
*This whistle blower has really stressed them and this money is a lot.I hope they dont and blow the whistle on the whistleblower?....Maybe it is better to run at this stage!
Hnmmm I know the blower is claiming his right but emmm he should just take what he's given than lose all.
ReplyDeleteNi to ri pe, awon people yi o gbadun ni igba imi o.
Lawyer is equally fighting for his own share...the bigger the compensation the bigger his share.
ReplyDeleteGovernment should pay this man.
ReplyDeleteHe should be paid CORRECTLY. What's that. This kind of risk. Do they know the hole he'll need to go hide after all this, even his family is no longer safe. I'm really upset about this.
ReplyDeleteThey made the policy and still refuse to keep to it. The whistle-blower has risked his and his family's lives through by revealing that money. He deserves his 5% mbok! His lawyer too wants his share
ReplyDeleteLol see this man o, #325,000,000 and he refused, he better collect before they formulate one uesless policy that would make him get nothing. If it wasn't for people who asked on Twitter shey they didnt pay him before and the matter was already dying down. Okay na
ReplyDelete325m is alot of money he should collect it and go. They should ve added that clause before screaming 5%. The higher the amount the lower the percentage. 325m is a fair deal.
ReplyDeleteThe govt already blew the whistle on this guys identity....and are still refusing to pay him in accordance to the policy......just sums up what APC ethos is as a party
ReplyDeleteIts this attitude of take the small fraction of what you are entitled to and be happy is why we don't demand accountability from the government. If that money is less than what he is entitled to, govt should pay up. Or other potential whistleblowers may just decide that its safer for them to steal their commission from the loot instead.
ReplyDeleteThey should pay him his 5% in full joor what ever he does with the money h
ReplyDeleteIs his business
The lawyer is just making noise, the whistle-blower policy is clear, the compensation is between 2.5 to 5% and nowhere did it state a mandatory 5%.
ReplyDeleteEven convicting a criminal states minimum to maximum, except if na death penalty. The lawyer would because of his selfishness hinder the whistle-blower and in the rofo-rofo his or her identify might be revealed.
APC Na scam
ReplyDelete