BY COBHAM NSA, ABUJA – Moves by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) to block leakages in Federal Government’s revenue is yielding results with over N470,000 million unremitted excise duty already recovered into the Federation Account.
And Guinness Nigeria Plc is unfortunately the erring company caught in the web of progress recorded by the Commission’s verification exercise on selected manufacturing firms that remit revenue into the Federation coffers.
Elated by the impressive tracking results so far, Chairman of the Commission, Engineer Elias Mbam, said there is no going back on the resolve to ensure recovery and eventual payment of all unremitted income into the appropriate accounts for accountability and transparency in public financial operations.
Engineer Mbam lauded the in-house Committee on Customs Revenue monitoring, noting that excise duty remains one of the major revenues collected by the Nigerian Custom Service (NCS) into the Federation account which is currently recording low revenue generation due to non-compliance by some manufacturing industries.
The RMAFC boss also said it has become important that adequate attention is given to excise duty payment by manufacturing industries into the Federation account as part of measures to enhance Federal Government’s revenue earnings
Engineer Mbam however said strengthening collaboration between Nigerian Custom Excise and RMAFC would produce fruitful results in terms of improved revenue into government’s purse.
In his remarks, the Comptroller General of Nigerian Customs Service (NCS), Col. Hameed Ibrahim Ali (rtd) praised the RMAFC’s efforts in delivering on its oversight functions.
He expressed happiness that the Commission’s resolve has already led to the recovery of huge unremitted revenue that accrues to the Federation Account.
The Customs Chief therefore pledged continued inter-agency collaboration with RMAFC to drive its professionalism in recovering government’s unremitted revenue, and charged the Commission not to renege in its efforts at ensuring all revenue leakages are effectively blocked.
