RMAFC Engages Heads of Revenue Agencies over Outstanding Operating Surplus

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By James Emejo

The Chairman, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mr. Elias Mbam, has sought the cooperation of revenue regulatory agencies in the commission’s current drive to recover outstanding balances into the Federation Account.

The agency had in September announced plans to launch a nationwide verification and reconciliation exercise on revenue inflows and remittances from organisations to the appropriate government treasury.

Mbam had said the exercise, which would commence in October, would be assessing transactions carried out from January 1, 2016, to December 31, 2019.

However, at a meeting with heads of the revenue regulatory agencies on Tuesday, he said it was important for the commission to acquaint the various agencies with its mandate and activities and to seek collaboration, particularly in its ongoing recovery efforts.

Mbam, in a statement yesterday by RMAFC spokesman, Mr. Nwachukwu Christian, said it is the responsibility of the commission to monitor all the accruals of revenue to and from the Federation Account while blocking leakages.

Mbam explained that in order to achieve the goal, the commission has engaged the services of consultants as well as collaborated with the Economic and Financial Crimes Commission (EFCC).

He stated that while inaugurating the new members of the commission in 2019, President Muhammadu Buhari had charged them to use all legal ways and means to strengthen its monitoring mechanism and block all leakages of revenues to the Federation Account.

He added that in pursuit of this and to ensure optimal results, the commission deemed it necessary to collaborate with all the regulatory agencies of revenue collecting agencies.

Mbam, therefore, called on the heads of the respective agencies to ensure that MDAs under them co-operate with the consultants who are currently in the field by releasing their books and records to enable them to monitor the exercise.