Chairman of Revenue Mobilization Allocation and Fiscal Commission (RMAFC), Mr. Mohammed Bello on Wednesday gave vivid account of how the Agency recovered unremitted revenue worth over N500 billion belonging to the federation from some Institutions.
Mr. Bello disclosed this during an interactive session with House of Representatives’ Committee on Finance chaired by Hon. Abiodun James Faleke (APC-Lagos), who demanded for details of various Organizations where the funds were recovered from.
In his earlier presentation, RMAFC Chairman disclosed that the sum of N14 billion was recovered between 2008 and 2012 through the assistance of forensic experts engaged by the Commission.
The Commission also recovered the sum of N60.981 billion between 2012 and 2015
In addition, over N312 billion was recovered between 2016 and 2019 while the payment was made in 2022 fiscal year.
According to him, just recently the Commission recovered the sum of N98 billion in September, 2023 from Nigerian National Petroleum Corporation Limited (NNPCL) and remitted same to the treasury.
In the same vein, the Commission recovered the sum of N79.102 billion from Federal and 8 State Ministries, Departments and Agencies (MDAs).
He added that the Commission is currently expanding its operations to 17 states of the Federation.
Mr. Bello further noted that there are states that are owing up to N30 billion while some are not owing the Federation.
He also informed the Committee of the Commission’s exploit through the recovery of the sum of N474 million and N199 million excise duties from two companies operating in the South West region of the country. The recovery was from January 2020 to December 2021 and 2022.
Before 2011, he noted that revenues from royalties and solid minerals were remitted into the Consolidated Revenue Fund.
But with the intensive effort of the Commission, the solid mineral component of the Federation Account which was opened in November, 2011 led to approval of 13 percent derivative fund for States and Local Government Areas and shared according to the formula adopted.
According to him, States and Local Government Areas are meant to be benefit from 30 percent of the fund.
He disclosed that the Commission also secured approval for 10 percent monthly payment from the Natural Resources Development Fund of which 1.68 percent is deducted and kept aside.
He disclosed that the immediate past President approved the sum of N30 billion for the Natural Resources Development Fund which will help the development of the sector.
While reacting to the proposed review of salaries of RMAFC Commissioners, Hon. Faleke who kicked against the financial burden solely borne by the Federal Government so far, argued that the salaries of all the Commissioners should be borne by the Federation Account.
Hon. Faleke who expressed displeasure over the level of impunity in the management of public fund, alleged that most of the erring Institutions indicted for financial impropriety, end up using public fund to pay back the unremitted.
He said: “as far as this Committee is concerned all those things you read out are no news. All those figures you read out are mere figure. You have no data or whatsoever to support it.”
To this end, he directed the RMAFC Chairman to provide comprehensive report of all the Agencies from which the unremitted revenues were recovered.
Adding that: ” if you say in 2008 and 2012 you recovered N14 billion, from where? Which agency paid, how, individual? We need comprehensive list.
For you to get back to an agency and say you are owing us $10 or N10 million and then being able to pay back from where do they get it? When you accused them it means, they have spent that money. So, for them to pay back they also use government money to pay you back. So, you’ll give details of these recoveries, the N16.9 billion, your 312 billion , your 98 billion, $21.48 million and 21.9 billion, we need more details,” Hon. Faleke noted.
