The new policy of paying a reward of 5% of whatever is recovered from looters to whistle blowers has been generating a lot of reactions from Nigerians.
While many (including yours truly) love the idea, some people are beginning to shoot the policy down on the basis that it’s public funds, and government can't give what it doesn't own... blah blah blah.
Since Nigerians own the money and most Nigerians support the policy, what more do you need? After all, this is democracy!
However, there are certain implications of the new policy that we need to realise:
1) In business, the policy brings an excellent opportunity for entrepreneurs to start new whistle-blowing companies. If you know about some loot, but you're afraid of blowing the whistle, you can hire the company to do it for you and share the reward.
Similarly, lawyers will be smiling to the bank as looters try to protect their loot in courts as Madam P has been doing. Business will boom for them.
2) In the economy, I foresee redistribution of wealth among the population. For example, when a Maigadi exposes his boss, the boss loses everything and the Maigadi becomes an instant multi millionaire!
3) Ironically, corruption will be the least affected by the new policy as looters would become more cautious. Public officers would no longer accept the usual 10% kick back - they'll demand for more from contractors since the stakes are higher.
Dodgy bankers will also demand more as more people would need to be paid to shut their mouth.
However, all these would help redistribute the money in the society instead of keeping it in a small clique of people.
4) As for personal security, people would need to be more careful. Have you overheard your boss or your uncle discussing some shady deals? Watch your back!
More looters would need to try to "take care" of more people that they deem a threat, as incidence of blackmail rises.
Happy holidays and take care of yourself.
Tweet: @DrMaheyM
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