Sagay Seeks 5% Cut For Agencies Who Recover Looted Funds
The Chairman of the Presidential Advisory Committee Against Corruption, Professor Itsa Sagay, says he will suggest that government agencies involved in recovering looted funds get five per cent from any amount recovered.
Sagay gave this suggestion in an interview with Channels Television on Saturday.
He said the 5 percent would serve as a motivating factor for the agencies, adding that it would help in funding their operations.
”I personally favour some percentage, may be five per cent of any fund recovered by an agency being ploughed back in that agency,” he said.
Strict monitoring
Sagay said the percentage would also be an easier way of funding the operations of the agencies especially in the situation where ”the government is having very major fund scarcity.”
He however urged that the 5 per cent should be strictly monitored to ensure the money is not diverted into ”individual pockets.”
Professor Sagay, who said the Economic and Financial Crimes Commission (EFCC), had won a number of court cases in the last one year, expressed concern over some cases involving politically exposed persons.
He, however, hinted that the cases lost by the EFCC and other agencies have been appealed against, while they have been working hard to ensure previous setbacks do not occur.
