RMAFC Collaborate With EFCC,ICPC To Recover All Available Revenue From Defaulters

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) will start the recovery of revenue from defaulting revenue agencies next week.

To do this, the RMAFC will be collaborating with the Economic and Financial Crime Commission (EFCC) and the Independent Corrupt Practice Commission (ICPC).

Advertisements

The three agencies will “carry out a Nationwide Verification and Reconciliation exercise on revenue inflows and remittances from relevant organizations to the appropriate government treasury”.

The recovery exercise will cover inflows and remittances dating from 1st January 2016 to 31st Dec 2019. The exercise is to will take off in the first week of October 2020.

A statement from the RMAFC said this disclosure was made by RMAFC Chairman Engr. Elias Mbam during an interactive session organised for the consultants that are engaged in carrying out this exercise in Abuja on Friday.

Mbam stated the “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 to “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 the collaboration with EFCC and ICPC is to provide close monitoring of the recovered accruable funds to the Federation account.

Mbam 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, commended the 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 has helped to recover more than three hundred billion naira in a similar collaboration with the Federal Inland Revenue Service (FIRS).

He promised not to compromise EFCC track record by making sure that every revenue defaulter will be made to face the full wrath of the law.

Earlier, the Secretary to the RMAFC, Mr. M.B. 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

Leave a Reply

Your email address will not be published. Required fields are marked *