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The policy of Whistle Blowing in an economy to smoke out stolen public funds and assets seems to be gaining grounds in other climes. Barely less than six months after Nigeria, through the Ministry of Finance has introduced the scheme, China on Monday, April 10, unveiled its stolen wealth recovery plan by tempting its citizens to become whistle-blowers, adopting a flat rate reward system.
Otherwise, whereas Nigeria has offered between 2.5 and 5 per cent of stolen money reported, the authorities in Beijing, the Chinese capital has offered a flat $72,460 to its whistleblowers.
The money is due to anyone who provides useful information on spies.
Details gathered by Business Hilights show that informants can pass information to authorities through calling a hotline, sending letters or visiting the city’s state security bureau.
After collating the information, the bureau can offer rewards ranging from 10,000 yuan to 500,000 yuan based on the reports’ usefulness.
Personal information of informants will not be disclosed without their consent, and informants can also seek protection from security authorities if they or their close relatives are in danger due to informing.
Just as Nigeria failed to include any form of penalty for slanderous whistle blowing, New Delhi said informants will be punished if they deliberately give wrong information.
Besides, analysts say why percentage is better for Nigeria is that it will give the whistle blower a better sense of what he or she stands to gain at the end.