Chairman of Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mohammed Bello, yesterday, explained how his outfit recovered unremitted revenue worth over N500 billion from agencies of government.
At an interactive session with the James Faleke-led House of Representatives Committee on Finance, he disclosed that N14 billion was recovered between 2008 and 2012 through the assistance of forensic experts.
Bello said his organisation also recovered N60.981 billion between 2012 and 2015. He added that over N312 billion was recovered between 2016 and 2019.
According to him, just recently, RMAFC recovered N98 billion in September from the Nigerian National Petroleum Corporation Limited (NNPCL) and remitted the same to the treasury.
In the same vein, the commission recovered N79.102 billion from federal and eight state’stries, Departments and Agencies (MDAs).
He added that the commission is currently expanding its operations to 17 states of the federation.
Bello further noted that there are states owing up to N30 billion.
He equally informed the committee of RMAFC’s recovery of N474 million and N199 million excise duties from two companies operating in the South West region. The exercise covered 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, he added, the solid mineral component of the Federation Account, which was opened in November 2011, led to approval of a 13 per cent derivative fund for states and councils, and shared according to the adopted formula.
According to him, states and councils are meant to benefit from 30 per cent of the fund.Bello said his organisation also secured approval for 10 per cent monthly payment from the Natural Resources Development Fund, out of which 1.68 per cent is deducted and set aside.
He added that former President Muhammadu Buhari approved N30 billion for the Natural Resources Development Fund to develop the sector.
While reacting to the proposed review of salaries of RMAFC Commissioners, Faleke, who deplored the financial burden solely borne by the Federal Government so far, suggested that the emoluments should be borne by the Federation Account.
He lamented the level of impunity in the management of public funds, adding that most of the institutions indicted for financial impropriety end up using public funds to repay.
His words: “As far as this committee is concerned, all those things you read out are no news. All those figures you read out are mere figures. You have no data or whatsoever to support them.”
Consequently, he directed the RMAFC boss to provide a comprehensive report of all the agencies from which the unremitted revenues were recovered.