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FG rejects tax holiday and approves new whistleblower legislation

FG rejects tax holiday and approves new whistleblower legislation

An updated draft whistleblower law was approved by the federal government on Wednesday.

It bemoaned the current whistleblowing policy, which was introduced on December 21, 2016, was losing steam.

This information was provided to State House Correspondents by Dr. Zainab Ahmed, Minister of Finance, Budget, and National Planning, during the weekly Council meeting at the Aso Rock Villa in Abuja, which was presided over by Vice President Yemi Osinbajo.

The Federal Ministry of Finance is a facilitator of the Whistleblower Protection Act, which was introduced by the Buhari-led government in December 2016 and offers legal protection for people who voluntarily reveal acts of fraud, bribery, looted government funds and assets, financial misconduct, and other forms of corruption.

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Additionally, the policy offers a reward of 2.5 to 5% of the monies recovered by the Nigerian government to a whistleblower who informs the ministry’s portal of any financial mismanagement or tipoff about stolen funds.

Speaking following this week’s FEC meeting, Ahmed claimed that the Council had adopted the proposed legislation to bolster the battle against corruption and safeguard informants who help the FG.

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