Uche Usim, and Isaac Anumihe, Abuja
The Federal Government seems to be leaving no stone unturned in its effort to increase the nation’s revenue base in the wake of the COVID-19 pandemic as the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) in collaboration with the Economic and Financial Crime Commission (EFCC) and the Independent Corrupt Practice Commission (ICPC) is planning a nationwide verification and reconciliation exercise on emittances from relevant organisations into the government treasury from January 1, 2016 to Dec 31, 2019.
Chairman of RMAFC, Mr Elias Mbam, made the disclosure in Abuja at the weekend during an interactive session organised for consultants recruited to carry out the exercise which kicks off October 1. Mbam who commended participants at the event noted that RMAFC’s mandate includes monitoring all revenue accruals into the Federation Account and disbursement in addition blocking leakages.
According to him, the task was consistent with President Muhamadu Buhari’s charge to the Chairman and Members of the Commission at inauguration, which is to use all legal ways and means to block all revenue leakages and maximize revenue inflow to the federation account.
The RMAFC boss noted that the collaboration with EFCC and ICPC was to provide close monitoring of the recovered accruable funds to the Federation Account while advising participating organisations not to join issues with any defaulting organisation 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, thanked 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), promising not to compromise EFCC track record by making sure that every revenue defaulter will be made to face the full rot 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 coupled with the COVID-19 pandemic.