14 whistleblowers get N439m reward from FG

The Minister of Finance, Kemi Adeosun has disclosed that the Federal Government paid N439.3 million to fourteen whistleblowers who gave vital information in the recovery of billions of Naira and some millions in hard currency from some corporate tax evaders.

While she did not name the offending companies, Adeosun told reporters in Abuja that about N14.8 billion, consisting of N7.8 billion, $378 million and £27,800 was recovered.

“This is the first time we are having that number (of whistleblowers) where we have concluded either communications with the companies and they have actually paid the money to FIRS,” the minister said.

Adeosun went on to add that data have been received from a number of sources, including Lagos, Kaduna, Kano and Ogun States’ land registries and also from foreign countries including traditional tax haven.

“Under the exchange of information protocols, this information relates to bank records and financial filings for tax purposes obtained from tax havens who are signatories to the information sharing agreements such as British Virgin Islands and Mauritius,” she said.

The minister also admitted there were still some irregularities in government payroll system, but she assured that government would pay close attention to details to correct all anomalies in the Integrated Payroll and Personnel Information System (IPPIS).

“We are investigating some cases where names on the payroll is different from those on the bank account. In some cases, it is as simple as some people got married and did not update their names. In other cases, it is a matter of fraud,” she explained

Source: Premiumtimes