Nigerians with information on stolen public assets stashed overseas could soon earn millions as the Economic and Financial Crimes Commission (EFCC) has rolled out a financial incentive for whistleblowers who help recover such funds and properties.
EFCC Chairman, Ola Olukoyede, announced that informants could receive between 2.5 per cent and 5 per cent of the value of recovered assets if their tips lead to successful recoveries.
Olukoyede made the disclosure while speaking at the Cambridge International Symposium on Economic Crime in the United Kingdom, where he urged countries to strengthen whistleblower protection as a major weapon in the fight against corruption.
According to him, anyone with credible information about Nigerian assets stolen and moved abroad would be rewarded once the recovery process is completed.
He said the EFCC’s successes have been driven by the quality of its investigators, access to intelligence, cooperation from the judiciary and the ability to secure non-conviction-based forfeiture orders.
The anti-graft chief revealed that the commission has recovered and forfeited cash and properties worth more than $500 million to the Federal Government within the past three years.
Olukoyede highlighted several major forfeiture cases, including properties linked to a former Central Bank of Nigeria (CBN) governor and assets allegedly connected to former Attorney-General of the Federation, Abubakar Malami.
He said the EFCC traced about 57 properties allegedly linked to Malami during investigations into suspected abuse of office and had secured the forfeiture of 48 of them.
The EFCC chairman also disclosed that the commission recovered an aircraft from a former public official accused of receiving a $30 million bribe. The aircraft, he said, has now been added to the presidential fleet.
Olukoyede explained that the EFCC has legal powers to seek the forfeiture of suspected proceeds of crime through court orders, similar to systems used in countries such as Australia and Canada.
He added that the commission had also secured the forfeiture of a property containing about 753 housing units linked to a former CBN governor, noting that criminal cases against the individual were ongoing in multiple courts.
The EFCC boss further revealed that a private university linked to a Federal Ministry of Health director was surrendered after investigations by the commission.
Olukoyede said the new whistleblower reward system was aimed at encouraging Nigerians and other individuals around the world to expose hidden assets and help the country recover stolen wealth.
