IKOYIGATE: FG gives reason whistle-blower hasn’t been paid, reveals when he’ll be paid


The Minister of Finance, Kemi Adeosun has revealed when the whistle-blower, who informed the Economic and Financial Crimes Commission, EFCC, of the N13bn recovered from an Ikoyi apartment in Lagos would be paid.

Adeosun in a statement issued by her Special Adviser, Media and Communications, Oluyinka Akintunde, said the informant would receive his reward this month.

She added that the delay was caused by the administrative procedures that must be fulfilled before such funds were released.

The Acting Chairman of the EFCC had last week stated that the whistle blower is now a millionaire a position that was swiftly denied by the unidentified informant.


She said, “The attention of the Honourable Minister of Finance, Mrs . Kemi Adeosun, has been drawn to media reports surrounding the payment to a whistleblower, who provided the tips that led to the recovery of funds stashed away in a property in Ikoyi, Lagos State.

“The Honourable Minister wishes to state unequivocally that the Federal Government has not withheld any fund due to any whistleblower.

“The ministry has in place detailed procedures for processing payments due under the whistleblower policy.

“The procedures were designed to prevent abuse and legal disputes and to ensure protection of the information providers.

“These procedures include an application by the agency who recovered the funds including evidence of the recovery, confirmation that there are no pending legal issues on the recovery, verification of the identity of the information provider, calculation of the amount payable and computation of relevant taxes.

“It must be stated also that payments are made in monthly batches to ensure control and to protect the identity of information providers.

“To date, over 20 of such persons have been paid. From available records, the payment due on Ikoyi is among those being processed in the November batch, which will be released within the current month.”



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