Finance minister, Kemi Adeosun has put to rest the controversy surrounding the payment of the Ikoyi. In a statement released by her Special Adviser on Media, Oluyinka Akintunde, Adeosun stated that his payment was currently being processed and would be ready at the end of this month. According to her, 20 whistleblowers had been paid so far, and payments were processed in batches to protect their anonymity and follow due process.

 “The minister wishes to state unequivocally that the Federal Government has not withheld any funds due to any whistle-blower. From available records, the payment due on Ikoyi is among those being processed in the November batch, which will be released within the current month.”

Several twists and turns 

There had been a back and forth argument between the chairman of the Economic and Financial Crimes Commission (EFCC) Ibrahim Magu who stated that the whistle blower had been paid, and Yakubu Galadima, his lawyer denying his client had received any payments. He also threatened to sue the Federal Government in order to expedite action, as his client’s life was being threatened. Magu, later denied making any statement.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via


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