The Minister of Finance, Mrs Kemi Adeosun, revealed this during an evaluation workshop on the whistle-blower policy and asset tracing team organised by the Presidential Advisory Committee Against Corruption.
The purpose of the workshop is to initiate discussion on how to improve the implementation of the policy in accordance with global best practice.
Adeosun said since the policy was introduced in December 2016, the Federal Government has received 8,373 enquiries and 1,231 tips.
The finance minister added that that out of these tips a total of 791 investigations had been carried out while 534 of those investigations had been concluded.
She said as a result of these investigations, the Federal Government had recovered the sum of N7.8bn, $378m and £27,800 respectively.
Adeaoun said while the government viewed the policy as being successful, there is still work to be done.
She said the government would focus more on tight control measures that would make it difficult for a few people to take away assets that belong to an entire country.
She said, “The whistle blower policy is aimed that improving institutional governance, strengthening mechanisms for the fight against corruption and supporting the implementation of open government partnership principles in advancing anti-corruption reforms.
“The Federal Government has recovered directly, as a result of tips received from whistle-blowers, the sum of N7.8bn, $378m and £27,800.
“We will begin to focus more on preventive measures, putting in place tight control measures , making it difficult for a few people to take away assets that belong to an entire country. In addition to this, investigation framework of the whistleblower policy will be reviewed.”
She said the government would continue to work with all stakeholders to improve the effectiveness of the policy, stating that required institutions and tools to achieve the objectives would be put in place.
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