Skip to main content

FG approves new whistleblower bill, cancels tax holiday

The Federal Government, on Wednesday, approved a new whistleblower draft bill.

It also lamented that the existing whistle-blowing policy launched on December 21, 2016, was losing momentum.

The Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, disclosed this to State House Correspondents after the week’s Council meeting, chaired by Vice President Yemi Osinbajo, at the Aso Rock Villa, Abuja.

Launched in December 2016 by the Buhari-led Government, the Whistleblower Protection Act, facilitated through the Federal Ministry of Finance, provides legal cover for individuals who voluntarily expose acts of fraud, bribery, looted government funds and assets, financial misconduct and other forms of corruption.

The policy also rewards a whistleblower who provides information about any financial mismanagement or tipoff about stolen funds to the ministry’s portal with 2.5 – 5 per cent of the funds recovered by the Nigerian government.

Speaking after this week’s FEC meeting, Ahmed said the Council approved the draft bill to strengthen the fight against corruption and protect whistleblowers that provide helpful information to the FG.

She said, “The Ministry of Finance, Budget and National Planning presented several memos today. The first is the draft whistleblower bill for 2022. This memo has been reviewed by the Council and approved with a provision to ensure alignment with the Evidence Act.

“The purpose of operationalising and putting in place a whistleblower bill is to strengthen the fight against corruption and to enable protection for whistleblowers that provide information for use by the government.

“As you know, since 2016, the Council has approved the setting up the Presidential Initiative of Continuous Audit. PICA has been working in partnership with EFCC, ICPC, DSS, and NFIU and the Office of the Attorney-General of the Federation.

“We noticed that the whistleblower policy response has lost momentum. We embarked on engagement in the six geo-political zones, and one of the main outcomes we found is that people are concerned about their safety due to providing information. So, this bill is critical to ensure the effectiveness of the retention of the whistle policy.”

FG approves new whistleblower bill, cancels tax holiday (punchng.com)

Labels:

Comments

Post a Comment

Popular posts from this blog

FIVE (5) STEPS OF INVESTMENT PLAN FOR SMALL AND LARGE ENTERPRISES

   A well calculated investment plan is an important tool to help you reach your financial milestones . Investment planning is very important to succeed in your investing journey. Creating a viable investment plan shouldn’t be ignored before you decide to invest your money even though it requires a little more than simply establishing a savings account and buying a few random shares of stocks , it still prepare s you for the normal ups and downs of the market and take advantage of opportunities as th ey arise. Here are few essential steps to guide you invest wisely:         Step One The first step in making an investment plan for the future is to define your present financial situation. You need to figure out how much money you have to invest. You can do this by making a budget to evaluate your monthly disposable income after expenses and emergency savings. This will allow you to determine how much you can reasonably afford to invest. ...
Post a Comment
Read more

Augustine Eguavoen Did A Fine Job As Super Eagles Coach

  By now it is no news to any Nigerian sports fan, that Augustin Eguavoen and his entire team have been relieved of their duties at the helm of affairs of the Nigerian National team. Most Nigerians are happy with this development, with some claiming that his immediate predecessor, Gernot Rohr would have delivered better results. However, a simple analysis of events will clearly demonstrate that Eguavoen did a fine enough job given the circumstances. I will attempt to undertake this analysis by demonstrating, first that Eguavoen has a better record than one might realize, and secondly by comparing the performance of his Super Eagles with that of Afcon winners, Senegal, and runners-up Egypt. When Gernot Rohr was sacked a few weeks to the Afcon, knowledgeable sportspersons decried the move, citing the difficulty any new coach would face in setting up the team to play to his own patterns. In analyzing Eguavoen, therefore, it must first be understood that the new boss was operating unde...
Post a Comment
Read more

Ogunlewe: Tinubu’s Health Doesn't Matter As Long As He Assembles A Good Cabinet

  A former Minister of Works,  Senator Adeseye Ogunlewe on Sunday said President Muhammadu Buhari’s appointment of former governors into his cabinet as Ministers is partly responsible for the non-performance witnessed in critical sectors of the Nigerian economy. Among former governors currently serving as Ministers are Rauf Aregbesola, Minister of Interior; Chris Ngige, Minister of Labour and Employment; Timipre Sylva, Minister of State for Petroleum; George Akume; Minister of Special Duties and Adeniyi Adebayo, Minister of Industry,Trade and Investment. Other former governors like Rotimi Amaechi, Godswill Akpabio and Ogbonnaya Onu resigned from the cabinet to contest in the 2023 general elections. Speaking in an interview with Daily Independent, Ogunlewe,  a chieftain of the ruling All Progressives Congress (APC) said any politician that will succeed President Buhari in 2023 must ensure he goes for the best brains who have the capacity to doesn’t appoint former governors...
Post a Comment
Read more