The Chairman of the Revenue Mobilisation Allocation and Fiscal Commission, Mohammed Bello, has explained how the agency recovered unremitted revenue totalling over N500 billion for the federation from some government-owned institutions.
Bello made the disclosure during an interactive session with the House of Representatives Committee on Finance on Wednesday chaired by James Faleke, the lawmaker representing Ikeja Federal Constituency, Lagos State.
In his presentation, the RMAFC boss disclosed that the sum of N14 billion was recovered between 2008 and 2012 with the aid of forensic experts engaged by the commission.
This is just as he added that the commission also recovered the sum of N60.981 billion between 2012 and 2015.
Additionally, over N312 billion was recovered between 2016 and 2019, while the payment was made in the 2022 fiscal year.
In his words, the RMAFC recovered the sum of N98 billion in September 2023 from the Nigerian National Petroleum Company Limited and remitted the full amount to the national coffers.
The commission further recovered the sum of N79.102 billion from Federal and eight State Ministries, Departments and Agencies in 2023.
He added that the commission is currently expanding its operations to 17 states of the Federation in a bid to recover more revenue to the Federation Account.
He also informed the committee of the commission’s feat through the recovery of the sum of N474 million and N199 million excise duties from two companies operating in the South West region from 2020 to 2022.
He noted that before 2011, revenues accruing 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 the approval of a 13 per cent derivative fund for States and Local Government Areas and shared according to the formula adopted.
He disclosed that the commission also secured approval for a 10 per cent monthly payment from the Natural Resources Development Fund, of which 1.68 per cent is deducted and kept aside.
He also added that the immediate past administration approved the sum of N30 billion for the Natural Resources Development Fund for the growth of the sector.
On the proposed review of salaries of RMAFC Commissioners, 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 drawn from the Federation Account.
The lawmaker who expressed displeasure over the level of impunity in the management of public funds, claimed that most of the institutions indicted for financial recklessness, end up using public funds 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 figures. You have no data or whatsoever to support it.”
Consequently, he directed the RMAFC chairman to provide a comprehensive report of all the agencies from which the unremitted revenues were recovered.
“If you say in 2008 and 2012, you recovered N14 billion, from where? Which agency paid? We need a comprehensive list.
“For you to get back to an agency and say you owe us $10 or N10 million, where will they get the money to pay back? When you accuse them, it means they have spent that money. So, for them to pay back, they also use government money to pay you back.
“You will give details of these recoveries, the N16.9 billion, your N312 billion,among others. We need more details,” Faleke added.