The Economic and Financial Crimes Commission (EFCC) has offered whistleblowers between 2.5 per cent and 5 per cent of recovered Nigerian assets for credible information that leads to the recovery of funds and properties allegedly taken abroad.
EFCC Chairman, Ola Olukoyede, made the disclosure on Wednesday while delivering a lecture at the 43rd Cambridge International Symposium on Economic Crime in the United Kingdom.
Olukoyede urged individuals with actionable intelligence on monetary and non-monetary assets allegedly stolen from Nigeria and moved overseas to come forward.
“I welcome all of you to the world of whistleblowing. If any one of you is privy to where Nigerian assets are stolen or taken to anywhere in the world, we have an incentive for you; between 2.5% and 5%, it’s going to go back to you upon recovery,” he said.
“That is an incentive we have put in place to encourage people to come forward to give information about stolen assets. You never tell if you give any information here, some of you may leave this place, multi-millionaire in your lifetime.”
The EFCC chairman also disclosed that the commission had recovered and secured the forfeiture of cash and assets worth more than $500 million for the Federal Government since he assumed office less than three years ago.
He attributed the recoveries to effective investigations, judicial support and access to credible intelligence.
Olukoyede highlighted Nigeria’s use of non-conviction-based asset forfeiture, which allows authorities to pursue assets suspected to be proceeds of crime without waiting for a criminal conviction.
He cited several major recoveries, including an aircraft, a university, estates and houses allegedly linked to proceeds of crime.
Among the cases he mentioned were 752 housing units linked to former Central Bank of Nigeria Governor, Godwin Emefiele.
He also said investigations into former Attorney-General and Minister of Justice, Abubakar Malami, led to the identification of 57 properties, with 48 already forfeited.
The Cambridge symposium brings together economic crime and anti-corruption experts from around the world. Olukoyede delivered his presentation on the third day of the week-long event.
