Ikoyi Whistle-blower Rejects FG’s N325m, Insists On N860m Percentage.

The whistle-blower that gave information to the Economic and Financial Crimes Commission (EFCC) that led to the recovery of money from an Ikoyi apartment has insisted he will not take less than 5 per cent of it.
The whistle-blower’s information had led to the recovery of $43m, N23.2m and £27,800 (N13bn) from an apartment in Ikoyi and insists in being paid N860m as being promised by the federal government.
The Secretary of the Presidential Advisory Committee Against Corruption, Prof. Bolaji Owasanoye, who was also part of the committee that drafted the whistle-blower policy spoke at an even on Thursday, November 23 where he said someone could be paid less than 2.5 per cent.
He 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.”
The Punch reports that Yakubu Galadima who is the lawyer of the whistle-blower insisted that he client will not take anything less than 5 per cent.
He said the amount his client was expecting was N860m and not N325m.
He also said his client must be paid based on the exchange rate f that period and not the current one. Meanwhile, two different men are currently in a fight for the N850 million whistle-blower’s commission from the Ikoyi Mansion cash recovery.
Ownership of the cash took a new twist on Tuesday, November 14, when the principal whistle-blower, Stephen Sunday, alleged plot by some individuals to dissolve his entitlement.