Whistle blowers and witness protection systems are known world over to encourage reporting of corruption and secure witness participation in prosecuting corruption in both the public and private sector. This is perhaps why the UK Bribery Act 2010 encourages covered businesses to have a whistle blowing policy in order to ensure that companies are able to prevent bribery or report on case of bribery when and if it occurs.
Except for the Pension Commission and a few other agencies, few Nigerian businesses and regulatory agencies have a whistleblowers policy or framework. In a recent case, Ministry of Finance (River State) Vs BGL Plc & 31 ors disclosed by the Securities and Exchange Commission’s advertorial published in Thisday Newspapers of 30th June 2015, absence of a whistle blowers policy was identified as one of the lapses in the operation of BGL Plc. Is this not a common lapse amongst Nigerian companies?