Men of the EFCC
Yakubu Galadima, the lawyer for the whistle-blower, who informed
the Economic and Financial Crimes Commission of the $43m, N23.2m and
£27,800 (N13bn) recovered from an Ikoyi apartment, says his client will
not accept anything below five per cent commission.
Galadima made this known during a chat with Punch on Saturday.
The whistle-blower's lawyer while speaking said that his client
would not accept anything less than five per cent. When asked if his
client would accept anything less than five per cent, he said, “Not at all.”
Galadima had stated last week that the commission his client was
expecting from the Federal Government was N860m and not N325m. He had
also stated that the commission should be paid based on the exchange
rate at the time the money was recovered and not the current one.
The Secretary of the Presidential Advisory Committee Against
Corruption, Prof. Bolaji Owasanoye, at an event on Thursday titled, ‘Tracking Noxious Funds’, which
was organised by Kent University Law School and Human and Environmental
Development Agency, had explained that any whistle-blower, who helped
the government to recover anything above N1bn would receive less than
five per cent commission.
Owasanoye, who was part of the team that drafted the whistle-blower policy had 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.”
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