ASSESSMENT OF THE WHISTLE BLOWER POLICY OF THE FEDERAL GOVERNMENT OF NIGERIA: ISSUES, SOLUTIONS AND BENEFITS

ASSESSMENT OF THE WHISTLE BLOWER POLICY OF THE FEDERAL GOVERNMENT OF NIGERIA: ISSUES, SOLUTIONS AND BENEFITS

INTRODUCTION

The evolution of the whistle blowing policy of the federal government came as a result of the deepening financial crises confronting the nation which is the effect of the high level of corruption reflected in in the theft and diversion of public funds for personal enrichment at the detriment of the poor and vunerable and the economic state of the nation. A definition offered by the World Bank views corruption as the abuse of public office for private gain. While agbu (2003) describe it as the theft of state Asset or Diversion of State resources for private use. Aluko  proffered   nine forms of corruption  which include Fraud , Embezzlement , Favouritism  ,Nepotism,   Political corruption (grand) , Bureaucratic corruption (petty) , Electoral corruption , Bribery  , (Aluko, 2009:5)  .The consequencies of Corruption exact  a  lot of negative impact on every aspect of  the nations development: social, economic and political (Igbuzor, 2008).According to  Ikubaje (2004) The effect of corruption  has raised a global concern  because of  its effect on individual, institutions, and nations (Igbuzor, 2008).The Lima Declaration, states  the impacts of corruption to  include: the subversion of the rule of law, retardation of development, economic rights of the poor and vulnerable, destruction of the of the moral life of the people  , violation of the social and undermining of democracy, and denial of society, particularly the poor, denial of the benefits of free and open competition (Igbuzor, 2008).

CHAPTER 1

1.1 Background To The Study

The whistleblowing policy was instituted the federal ministry of finance and approved by the federal government to facilitate the divulsion of information regarding the violation of financial regulations, misappropriation of public funds and assets, theft of public funds, financial malpractice, and fraud .Consequently an on-line portal was created to enhance the disclosure of information regarding the mismanagement of public funds and assets, financial malpractice ,fraud , theft , violation of financial regulations, in the  best interest of the public .

 According to Mrs. Kemi Adeosun the Nigerian federal minister of finance, the basic objective of the policy is to facilitate the fight for the eradication of financial crimes and corruption, through the exposure of such financial crimes and the provision of rewards to whistle-blowers.

Consequently the policy offers protection to whistle-blowers which covers them from harassment or intimidation by their employers or bosses. The benefit of the policy is believed will increase transparency and accountability in the management of public funds and the recovery of looted public fund for the deployment of infrastructural development. This will enhance a corruption-free society and the attraction of   foreign investor’s .Niyi Akinnaso’s (2016). Therefore the research seek to proffer an Assessment of the Whistle Blower policy of the Federal Government of Nigeria: Issues, solutions and Benefits

ASSESSMENT OF THE WHISTLE BLOWER POLICY OF THE FEDERAL GOVERNMENT OF NIGERIA: ISSUES, SOLUTIONS AND BENEFITS