Whistle Blower Policy: FEC Approves 2022 Draft, Says Response Has Lost Momentum

The Federal Executive Council (FEC) has reviewed and approved the 2022 draft whistle blower bill to strengthen the fight against corruption and protect whistle blowers who provide information used by the government.

The Minister of finance, Mrs Zainab Ahmed who disclosed this today after the FEC meeting chaired by the Vice President, Professor Yemi Osinbajo, also stated that the review became imperative because the Whistle blower policy response has lost momentum.

Mrs Ahmed asserted that this conclusion was arrived at after an engagement across the six geo political zones.

According to her, safety concerns have been raised by citizens as a result of providing the information, an outcome which is the federal government is now acting upon through the upscaled bill.

The council also ratified a new finance bill to support the implementation of the 2023 budget.

According to the minister, the Finance bill will amend a number of fiscal laws including the capital gains tax, company income tax, customs excise tariff Act, Federal Inland Revenue Service Act, personal income tax, stamp duties act, tertiary education tax, VAT act, Insurance Act, Nigerian police Trust Fund Act, as well as the National Agency for Engineering Act NASANI, finance control management act, as well as the fiscal responsibility.

She noted that with the council’s approval, the President is expected to convey to the National Assembly, a request for the consideration of this bill.

Speaking on the effect of the new naira note on the economy, the finance minister expressed the believe that there will be increased financial inclusion, in alignment with the objective of the policy which is essentially to advance digital transactions.

According to her, so far there there has been progress, as she hopes that by the CBN’s due date, a lot of old notes would have been mopped up.