REVENUE MOBILISATION ALLOCATION AND FISCAL COMMISSION RECOVERS N500 BILLION UNREMITTED REVENUE 19-10-23
By Sadiq Aminu The Chairman of Revenue Mobilization Allocation and Fiscal Commission (RMAFC), Mr. Mohammed Bello, says the agency has recovered unremitted revenue worth over N500 billion belonging to the federation from some Institutions.
Mr. Bello disclosed this during an interactive session with House of Representatives’ Committee on Finance at the National Assembly.
He stated that the sum of N14 billion was recovered between 2008 and 2012 through the assistance of forensic experts engaged by the Commission, as well as N60.981 billion between 2012 and 2015.
In addition, he said, over N312 billion was recovered between 2016 and 2019 while the payment was made in 2022 fiscal year.
“Commission recently recovered the sum of N98 billion in September, 2023 from Nigerian National Petroleum Corporation Limited (NNPCL) and remitted same to the treasury.
“In the same vein, the Commission recovered the sum of N79.102 billion from Federal and 8 State Ministries, Departments and Agencies (MDAs).
Mr. Bello added that there are states that are owing up to N30 billion while some are not owing the Federation.
The Chairman House committee on finance Mr James Faleke, kicked against the proposed review of salaries of RMAFC Commissioners describing it as a financial burden solely borne by the Federal Government.
Mr Faleke who expressed displeasure over the level of impunity in the management of public fund, alleged that most of the erring Institutions indicted for financial impropriety, end up using public funds to pay back the unremitted.
To this end, he directed the RMAFC Chairman to provide comprehensive report of all the Agencies from which the unremitted revenues were recovered.