FG Recovers Another $151m, N8bn Loot Through Whistleblowing Programme

 FG has said it has recovered $151m and N8bn looted funds from three sources through whistle-blowers.

Federal Government said it recovered another $151m and N8bn looted funds from three sources through whistle-blowers.The Minister of Information and Culture, Alhaji Lai Mohammed, in a statement issued on Sunday in Lagos, said actionable information given by whistle-blowers to the office of the Minister of Justice and Attorney-General of the Federation led to the recovery of the looted fund.

Lai Mohammed

He said the looted funds do not include the $9.2m in cash allegedly owned by a former Group Managing Director of the NNPC, also a dividend of the whistle-blower policy.He said, “The biggest amount of $136.7m was recovered from an account in a commercial bank, where the money was kept under an apparently fake account name.“This was followed by N7bn and $15m from another person and N1bn from yet another.”The minister reiterated the position of government that there was a primitive and mindless looting of the national treasury under the last administration.He said the whistle-blower policy has started yielding fruit, few months after its adoption by the government.He said, “The whistle-blower policy is barely two months old and Nigerians have started feeling its impact, how a few people squirrelled away public funds.“It is doubtful if any economy in the world will not feel the impact of such mind-boggling looting of the treasury as was experienced in Nigeria.“Yet whatever has been recovered so far, including the $9.2m by the EFCC, is just a tip of the iceberg.”