Do Nigerian Public agencies and companies consider Whistle blowers Policies and Frameworks important for corruption Prevention, detection and reporting?

 

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?

 

 

 

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One thought on “Do Nigerian Public agencies and companies consider Whistle blowers Policies and Frameworks important for corruption Prevention, detection and reporting?

  1. Generally,our society is highly reactive to foreseeable occurrences,rather than pro-active.The approach to the fight against corruption has being that of investigate ,arrest and prosecute ,but seldom with anticipated success.It is for this reason that corruption has continued to thrive and those involved keep earning ‘unsalutary salutations’ from the society.Most public institutions and corporate entities have no whistle-blower policies and frameworks.Instead of toeing the path of pro activeness by establishing a framework ,most times,it is a case of catch the robber and deal with him,and for the corporates,external auditors will be invited to check the books and probably ,prosecution arises therefrom.It is pertinent that our public institutions look beyond the Anti Corruption and Transparency Monitoring Units (ACTU) and embrace the whistle blowers and witness protection systems,in order to reduce the incidence of corruption.For the corporate bodies,the relevant regulatory bodies e.g. CAC,SEC and other should in their rules and regulations made pursuant to the enabling legislation make it mandatory for all companies to enshrine the policy in their operational dynamics.
    The identity of whistle blowers should be protected,while the reported signal or issues should be thoroughly investigated.If need be ,in the footsteps of the U.K.,we should elevate the policy by incorporating it into the relevant laws applicable.
    It should be encouraged,with adequate protection and operating environment for it to operate.There should be a provision that anyone who by his official position is privy to the identities of whistle blowers and reveals them should be adequately sanctioned.It is my conviction that internalizing the policy through enabling frameworks and structures will reduce corruption.Indeed,it is a lapse in most institutions.We should be proactive.

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