The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has recovered and paid into the Federation Account more than N474 million from Guinness Nigeria Plc unremitted excise duty.
The Public Relations Officer of RMAFC, Mr. Christian Nwachukwu made the disclosure in a statement on Monday in Abuja.
According to the statement, the commission’s Chairman, Mr Elias Mbam, said that the recovery was part of the progress recorded by its verification exercise on selected manufacturing companies in Nigeria.
Mbam also said that the exercise was done on companies that paid excise duty into the federation account.
The chairman said that excise duty was one of the major revenues collected by the Nigerian Custom Service (NCS).
He said that the federation account currently recorded low revenue generation because of non-compliance by some manufacturing industries.
He added that there was the need for manufacturing companies to give adequate attention to excise duty payment in order to increase revenue inflow to the Federal Government.
The statement noted that the Comptroller General of NCS, retired Col. Hameed Ali, commended RMAFC’s effort in the recovery of the unremitted revenue.
Ibrahim solicited for RMAFC’S continued inter-agency collaboration in recovering unremitted revenues and urged the commission to continue in its effort to block revenue leakages.