‘We Have Recovered N605bn Through Whistle Blowing’, Says Finance Minister

Zainab Ahmed, Minister of Finance in Nigeria, has said that the federal government of Nigeria has recovered N605billion through the whistleblowing policy.

She gave the figure while speaking with journalists in Abuja on Thursday.

She also said that states yet to receive their final tranche of the Paris Club debts refunds would be paid soon as funds have been released to that effect.

Speaking on how much the whistleblowing policy, which was launched in December 2016, has helped the country to retrieve, Ahmed said not less than N540bn was recovered in 2018 alone.

She added that the policy has been a “huge success” adding that the federal government would continue to ensure monies stolen by individuals from the national treasury would be recovered

“The whistleblower policy of government subsists and it is still being implemented. The total amount of collection that has been made through various efforts in the whistleblower policy is about N605 billion.

“This is an improvement over the last amount that was reported,” Ahmed said.

Ahmed also hinted that N649.434 billion has been released to balance states that are yet to receive full payment of the Paris Club debt.

She noted that the money released was less that the amount to be paid stating that it was due to the exchange rate differential at the point of payment.

“For the final phase of the Paris Club debts refunds, the total sum of N649.434 billion was verified by the Ministry as the outstanding balance to be paid to the State Governments,” the Minister said.

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