In a significant victory for financial accountability, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has announced the successful recovery of a staggering N319 billion in previously unremitted funds from various ministries, departments and agencies (MDAs) over the past two years.
This revelation was made by Mr. Mohammed Shehu, the chairman of the commission, during a recent media interview.
Mr. Shehu revealed that the complexity of some MDAs necessitated the engagement of forensic experts to unearth concealed funds. He explained that the commission occasionally collaborated with law enforcement entities such as the Economic and Financial Crimes Commission (EFCC) to conduct investigations into these MDAs.
He emphasised, “If an MDA acknowledges its liability but refuses to fulfill it, we may seek the assistance of the EFCC, and they have been instrumental in our efforts.”
Highlighting the extent of the challenge, Mr. Shehu stated, “Certain MDAs are so intricate that we have to enlisted the expertise of forensic specialists or teams of consultants to meticulously scrutinise their financial records. On several occasions, these investigations have led to the discovery of substantial sums of unremitted funds.”
Within the preceding two years, the RMAFC has managed to identify and recover over N319 billion, which has since been remitted to the federation’s appropriate accounts. Mr. Shehu underscored the commission’s commitment to plugging revenue leakages and strengthening the federal government’s revenue-generation initiatives.
One of the primary responsibilities of the RMAFC is to oversee the generation and allocation of revenue from the Federation account. He elaborated on this role, saying, “Our monitoring duties involve tracking the sources of revenue and ensuring that revenue-generating agencies, as stipulated in the Act, meet their obligations. The law empowers the commission to request information from any revenue-generating agency, granting us the authority to inspect the financial records of all government bodies to assess their revenue collection and remittance.”
The chairman also revealed that the RMAFC had established committees dedicated to supervising various revenue-generating agencies. These committees, including those overseeing Nigeria Customs Service (NCS), the FIRS, crude oil, gas, special duties, and solid minerals, are tasked with conducting comprehensive monitoring activities across Nigeria. He noted: “For instance, the customs committee routinely conducts audits in collaboration with the NCS at customs services and manufacturing companies, particularly in the south-western region.”
