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Ikoyi cash: Only one whistleblower will be paid N421m, says Adeosun

Kemi Adeosun, minister of finance, says the federal government will pay only one whistleblower a finder’s percentage of the N13 billion recovered from a flat in Osborne Towers, Ikoyi, Lagos.



The Economic and Financial Crimes Commission (EFCC) had recovered the stash in April based on information made available by a whistleblower.

In response to the government’s promise to pay 2.5-5% of any recovered money, several persons have presented themselves as informants in the Ikoyi recovery.
Reacting to the development, Adeosun said the government will only pay the informant that signed the agreement that led to the recovery of the stash.

She made this known to state house correspondents after the federal executive council (FEC) meeting on Wednesday.

The minister said the total amount that will be paid is N421,330,595, adding that “it is ready for payment”.

She said: “The only condition necessary is that the money will be paid to the whistleblower who signed the agreement. Not to any company.

“If we get the court judgement, we have to wait for three months to ensure that there are no encumbrances. We also [have to] make sure that all applicable taxes are paid ahead.

“We [will] get in touch with the state government where the person is domiciled. We [will] pay the tax directly to the state and issue the tax receipt. So we built in these procedures to protect the whistleblower.”

Not less than four self-acclaimed whistleblowers have filed suits against the government over the finder’s fee.
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