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 federation account.
The exercise, which is scheduled to take off in the first week of October, is being planned in collaboration with the Economic and Financial Crime Commission (EFCC) and the Independent Corrupt Practice Commission (ICPC)
The RMAFC Chairman, Engr. Elias Mbam, gave the hint on the planned exercise during an interactive session organized for the consultants that are engaged in carrying out the exercise in Abuja at the weekend.
Mbam, who commended the participants, said the exercise was in furtherance of the commission’s mandate to monitor all revenue accruals into the Federation Account and disbursement while blocking leakages.
The RMAFC boss explained that the collaboration with EFCC and ICPC was to provide close monitoring of the recovered accruable funds to the federation account while advising 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.
n his remarks, Mr. Hamza Abdulahi, who represented the acting Chairman of the EFCC, Mr. Mohammed Umar, thanked the commission for finding it worthy to collaborate with EFCC in tracking and blocking revenue leakages while recovering all revenue accruable to the Federation account.
According to him, the anti graft agency has helped to recover over N300 billion in a similar collaboration with the Federal Inland Revenue Service (FIRS),
Umar promised not to compromise EFCC track record by making sure that every revenue defaulter will be made to face the full weight of the law.