13th February, 2017
A constitutional lawyer, Mr Onyekachi Ubani, on Monday urged the Federal Government to make its policy on whistleblowing a law for proper enforcement.
Ubani in Lagos said that the policy would be very effective in the recovery of looted funds when it becomes a law.
The federal government on Dec. 21, 2016 approved a new policy on whistleblowing that aims to encourage Nigerians to report financial and other related crimes to relevant authorities.
The policy offers whistleblowers whose revelations lead to the recovery of money up to five per cent of the recovered sum.
The federal government on Sunday said it recovered another $151 million and N8 billion looted funds from three sources through whistleblowers.
“I`m very happy the government came up with this policy. The policy is very good and timely for us as a nation.
“This is just a government pronounced policy; government should go further to enact it into law because it is when it is enacted into law that it can be enforced in a court of law.
“As a pronounced policy, I do not know the efficacy or how it will be enforced.
“I hear the Whistleblowing Bill is pending before the National Assembly; they should speed up its enactment into law for proper enforcement and to encourage more whistleblowers,“ Ubani said.
He urged the government to keep its promise of non-disclosure of the identity of whistleblowers and in dispensing money to individuals who gave out information without delay.
The constitutional lawyer also urged the federal government to reform the banking industry in order to check money laundering and looting in the country.
“Banks in Nigeria have not helped our economy; they aid and abet money laundering.
“The Minister of Information said that fake names were used in opening some bank accounts and I wonder how come the banks did not process genuine documents for such persons making such deposit,’’ Ubani said.
He also urged the government to change the policy of appointing a banker as the Governor of the Central bank of Nigeria (CBN) for efficiency sake.
“The Federal Government must reform the banking industry by changing the policy of appointing a banker as the CBN governor because the man in charge will continue to protect his own.
“The banks too should support government’s efforts by reporting any suspicious bank accounts to the appropriate authority,” he said.
On lawyers who defend individuals involved in treasury looting and money laundering, Ubani advised lawyers to shun unethical practices and desist from manipulating the system in favour of criminals.