The Federal Government of Nigeria  said it recovered another $151
million and N8 billion looted funds from three sources through
The Minister of Information and Culture, Lai Mohammed, disclosed this
in a statement issued on Sunday in Lagos.
Mr. Mohammed said actionable information given by whistleblowers to
the office of the Minister of Justice and Attorney General of the
Federation led to the recovery of the looted fund.
He said the looted  funds do not include the $9.2 million cash
recently recovered from a former Group Managing Director of the NNPC,
Andrew Yakubu, also through the whistle-blower policy.
“The biggest amount of $136.7 million was recovered from an account
in a commercial bank, where the money was kept under an apparently
fake account name,” Mr. Mohammed said.
“This was  followed by N7 billion and 15 million dollars from another
person and  N1 billion from yet another.”
The minister reiterated the position of government that there was a
primitive and mindless looting of the national treasury under the last
He said the whistleblower policy has started yielding fruit, few
months after its adoption by the government.
“The whistle-blower policy is barely two months old and Nigerians have
started feeling its impact, how a few people squirreled away public
“It is doubtful if any economy in the world will not feel the impact
of such mind-boggling looting of the treasury as was experienced in
”Yet whatever has been recovered so far, including the $9.2 million by
the EFCC, is just a tip of the
he minister appealed to Nigerians with useful information on looted
funds to continue to provide the authorities with such information,
saying confidentiality will be maintained with regards to the source
of the information.
He also reminded Nigerians of the financial reward aspect of the policy.

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