The Revenue Mobilization, Allocation and Fiscal Commission (RMAFC), on Tuesday disclosed that a revised revenue allocation formula for the three tiers of government would be presented to the Executive by December this year. The Chairman of the commission, Engr. Elias Mbam, who made the disclosure during a media briefing in Abuja said the review was […]
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) on Monday disclosed that a total sum of N1.54 trillion was generated by revenue agencies and ministries, departments and agencies (MDAs) into the federation account in the first quarter of this year. A statement by the commission’s Public Relations Officer (PRO), Mr. Nwachukwu Christian, indicated that the […]
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has unveiled plans to carry out a nationwide verification and reconciliation exercise on revenue inflows and remittances from relevant organizations to the appropriate government treasury covering a four year period (Jan 2016 – Dec 2019) with a view to compelling defaulting MDAs to remit such revenue to […]
The Acting Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mr. Umar Gana, has disclosed that its various investigations of tax remittances by banks, stamp duty collections, Withholding Taxes (WHT) and Value Added Tax (VAT) have led to the recovery of N268 billion from the affected institutions nationwide. Gana, who made this disclosure […]
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) stated yesterday that it recovered a total of N57.7 billion from banks as unremitted revenues collected on behalf of the Federal Government. Recent investigations on the banks on revenue collected for the government from July 2012 to December 2015, indicated that the lenders failed to remit N74.1 […]