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The policy is that every whistleblower whose revelations lead to recovery of money will be entitled to as much as 5 per cent of the recovered sum.
The new policy was approved Wednesday at the meeting of the Federal Executive Council, chaired by President Muhammadu Buhari inside the Council Chamber of the Aso Rock Villa.
The Minister of Finance, Kemi Adeosun, who announced the new policy to State House correspondents, said it is being put in place “in conjunction with the Attorney General of the Federation and Minister of Justice”.
She said the policy is a stop gap initiative until the National Assembly formally passes a law on whistle blowing.
She said the new programme encourages Nigerians with information on financial crimes to disclose it.
She said the aim is to strengthen the fight against corruption by the Buhari administration.
She said anonymity and protection of whistleblowers will also be guaranteed.