RMFAC partners EFCC to monitor, track accruals to Federation Account

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has reiterated its commitment to strengthening collaboration with the Economic and Financial Crimes Commission (EFCC) in monitoring and tracking of all revenue accruals from generating agencies into the Federation account.

Mohammed Bello, the Commission’s Chairman stated this when he paid a courtesy visit to the Chairman of the Economic and Financial Crime Commission (EFCC), Mr. Abdulrasheed Bawa in Abuja recently.

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

A breakdown of the recovery shows that N74 billion was recovered from 2008 to 2015 and N118 billion from 2016 to 2019 during the monitoring and recovery exercises on revenue-generating agencies including banks and companies.

According to him, the amount is in addition to the discoveries of $205,013,760 from some companies in the oil and gas sector who refused to remit the same to government coffers but rather sued RMAFC and EFCC with the claim that both agencies have no right by law to request for such huge sum belonging to federal government to be remitted into the Federation account.

The RMAFC boss appreciated the EFCC and the passion of the Chairman to fight corruption in the country.

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In his response, the EFCC Chairman, Abdulrasheed Bawa, expressed the readiness of the EFCC to strengthen its ties with RMAFC in increasing revenues for the nation while blocking leakages.

This according to Bawa will be better achieved by prosecuting defaulting revenue-generating agencies, having been empowered by law to liaise with agencies like RMAFC in the execution of their mandates.

While promising to avail RMAFC of the opportunity for capacity building from EFCC academy, Bawa called for the re-examining of the delay in revenue remittance for timely remittances from revenue-generating agencies.