The Senate has passed the Whistle-Blowers Protection Bill, which recommends a 5-year jail term or N10m fine against persons who raise false alarm on hidden loot.
The upper chamber of the National Assembly also approved that five per cent of loot recovered as a result of information from a whistle-blower be given to the informant, as currently being practised by the Federal Government.
The report said, “First, it seeks to encourage and facilitate disclosuresof improper conduct by persons, public officers and corporate bodies both private and public sectors. Second, it ensures that matters disclosed are properly investigated and handled appropriately in accordance with the law.
“Third, the bill seeks to ensure adequate protection for the whistle-blowers from reprisals, victimisations, job losses, isolation, humiliation,which are some of the consequences for whistle-blowing.
“Fourth, this legal framework also contemplates financial reward for any disclosure that leads to discovery and recovery of funds, properties, e.t.c, to serve as incentive for potential whistle-blowers.
“On the whole, this mechanism is a recognised concept, which has been adopted by many countries in the world and it has helped in the fight against corruption.”
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