RMAFC, EFCC, ICPC To Recover Outstanding Revenue From MDAs

The Revenue Mobilisation Allocation and Fiscal Commission in collaboration with the Economic and Financial Crime Commission and the Independent Corrupt Practice Commission is to carry out a nationwide verification and reconciliation exercise on revenue inflows and remittances from relevant organizations to the appropriate government treasury.

The exercise which would cover a four year period between January 1 2016 to December 31 2019, would begin in the first week of October this year.

This was disclosed by RMAFC Chairman, Engr. Elias Mbam, during an interactive session organized for the consultants that are engaged in carrying out this exercise in Abuja.

Mbam commended the participants stating that, RMAFC’s mandate includes monitoring all revenue accruals into the Federation Account and disbursement while blocking leakages.

This, according to him, is in line with President Muhamadu Buhari’s charge while inaugurating the Chairman and members of the Commission to use all legal ways and means to block all revenue leakages and maximize revenue inflow to the Federation account.

The RMAFC boss noted that the collaboration with EFCC and ICPC is to provide close monitoring of the recovered accruable funds to the Federation Account.

He advised participating organizations not to join issues with any defaulting organization but rather, submit their established reports to the Commission through the Coordinating Committee of the project.

In his speech, Mr.Hamza Abdulahi who represented the acting Chairman of EFCC Mr. Mohammed Umar, thanked RMAFC for finding it worthy to collaborate with EFCC in tracking and blocking revenue leakages while recovering all revenue accruable to the Federation Account.

Hamza further stated that, EFCC had helped to recover more than N300bn in a similar collaboration with the Federal Inland Revenue Service.

He promised not to compromise the Commission’s track record by making sure that every revenue defaulter is made to face the full wrath of the law.

Earlier, the Secretary to the RMAFC, Mr. Mohammed Shehu reminded the participants that the Federal government takes the issue of revenue generation seriously particularly with the dwindling oil revenue occasioned by the current international market alongside the Covid 19 Pandemic.

 
The Fiscal Responsibility Commission had last month express worry about non-remittance of over N1.7trn operating surpluses into the Consolidated Revenue Fund by some agencies in line with the Fiscal Responsibility Act of 2007.

Describing the development as unfortunate, the Commission noted that despite the increase from 31 captured corporations in 2007 to the current 123 in 2020, some of the agencies are still reluctant to remit their funds, but divert same to running costs in their various organisations.