Federation account: MDAs jittery as RMAFC, others set to probe remittances

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By Joshua Elekwachi, Abuja

Some Ministries, Departments and Agencies (MDAs) were rattled on Monday as federal government  announced plans to beam its searchlight into revenue generated and remittances made into Federation Account by its agencies between 2016 and 2019.

Nigerian NewsDirect gathered that some of the MDAs have been alleged to withhold revenue generated by them from the federation account.

The chairman of Revenue Mobilization Allocation and Fiscal Commission (RMAFC), Elias Mbam, on Monday disclosed that a nationwide verification and reconciliation on revenue inflows and remittances from relevant organizations to the appropriate government treasury will be carried out in the first week of October 2020.

Mbam, who made this disclosure at an interactive session organization for the consultant engaged for the exercise, said that the verification and reconciliation will cover the period- January 1st 2016 to 31st December, 2019.

He said the revenue and remittances books of some government agencies will be scrutinised by the Commission in collaboration with the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC).

He added that the collaboration with EFCC and ICPC is to provide close monitoring of the recovered accruable funds in the federation account.”

He advised the consultants not to join issues with any defaulting organization, adding that they should submit their established reports to the RMAFC through the coordinating Committee of the project.

According to him, “The RMAFC’s mandate includes monitoring all revenue accruals into the federation account and disbursement while blocking leakages.”

He stated that the mandate is in line with President Muhammadu Buhari’s charge to the Commission to use all legal ways and means to block all revenue leakages and maximize revenue inflow to the federation account.

In his remaks, the representative of the acting chairman, EFCC, Hamza Abdullahi, thanked the RMAFC for finding it worthy to collaborate with EFCC in tracking and blocking revenue leakages while recovering all revenue accruable to the federation account.

Abdullahi said, “EFCC has helped to recover more than N300billion in a similar collaboration with the Federal Inland Revenue Service (FIRS). We will not compromise the EFCC’s track record and will ensure that every revenue defaulter will be made to face the full wrath of the law.”