RMAFC Recovers N474m Unremitted Excise Duty From Guinness 

The Revenue Mobilisation Allocation and Fiscal Commission has recovered over N474m into the Federation Account from Guinness Nigeria Plc as unremitted excise duty.

This was disclosed by the Chairman of the Commission Engr Elias Mbam on Monday in Abuja.

He noted that the recovery was part of the progress recorded by the Commission’s verification exercise on selected manufacturing Companies in Nigeria that pay excise duty into the Federation Account.

While commending the in-house Committee on Customs Revenue monitoring, the RMAFC Chairman further stated that excise duty is one of the major revenues collected by the Nigerian Custom Service into the Federation Account which is currently recording low revenue generation because of non-compliance by some manufacturing industries.

Mbam harped on the need to give adequate attention to excise duty payment by manufacturing industries into the Federation Account in order to increase revenue inflow to the Federal Government.

He stated that there is need to strengthen collaboration between Nigerian Customs and RMAFC in order to recover outstanding excise duty.

In his acknowledgement, the Comptroller General of Nigerian Custom Service, Col. Hameed Ibrahim Ali (Rtd) commended RMAFC’s effort in the exercise of its oversight functions leading to the recovery of such unremitted revenue accruable to the Federation Account.

The Comptroller-General further solicited for RMAFC’s continued inter-agency collaboration in its professionalism towards recovering of Federal Governments unremitted revenue.

He urged the Commission to continue its effort in blocking revenue leakages.