Economy

THE Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has reiterated its commitment to strengthen its collaboration with the Economic and Financial Crimes Commission (EFCC).

This is contained in a statement issued by Mr Christian Nwachukwu, Public Relations Officer of the RMAFC, on Wednesday.

The collaboration would be in the area of monitoring and tracking of all accruable revenue accruals from revenue generating agencies into the federation account.

Mr Mohammed Bello, RMAFC Chairman said this when he paid a courtesy visit to the EFCC Chairman, Mr Abdulrasheed Bawa in Abuja.

Bello said that collaborations between the two agencies over the years had led to the recovery of more than N192 billion into the federation account.

“This is made up of N74 billion covering 2008 to 2015, and N118 billion covering 2016 to 2019 monitoring and recovery exercises on revenue generating agencies including banks and companies.”

Shehu however, said that this was in addition to the discoveries of over 205 million dollars ($205,013,760) from some companies in the oil and gas sector.

The chairman said the companies refused to remit the same to the government coffers.

They, however, sued RMAFC and EFCC with the claim that both agencies had no right, by law, to request for such huge sum to be remitted into the federation account.

In his response, the EFCC Chairman said the his commission was ready to strengthen its ties with RMAFC in increasing revenues for the nation, while blocking leakages.

This, according to Bawa, would be better achieved by prosecuting defaulting revenue generating agencies.

Bawa also called for the re-examining of the delay in revenue remittance for timely payments from revenue generating agencies. (NAN)

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Tags: Christian Nwachukwu EFCC Mohammed Bello Revenue Mobilisation Allocation and Fiscal Commission