he Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has disclosed the discovery of over 205 million dollars ($205,013,760) in revenues not remitted by some oil and gas companies operating in the country.
TheNewsGuru.com (TNG) reports Mr Mohammed Bello, RMAFC Chairman made the disclosure when he paid a courtesy visit to the Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Abdulrasheed Bawa in Abuja.
Speaking during the visit, Bello said that collaborations between the two agencies over the years had led to the recovery of more than N192 billion into the federation account.
“This is made up of N74 billion covering 2008 to 2015, and N118 billion covering 2016 to 2019 monitoring and recovery exercises on revenue generating agencies including banks and companies.”
Bello, however, said that this was in addition to the discoveries of over 205 million dollars ($205,013,760) from some companies in the oil and gas sector.
The chairman said the companies refused to remit the same to the government coffers.
They, however, sued RMAFC and EFCC with the claim that both agencies had no right, by law, to request for such a huge sum to be remitted into the federation account.
During the visit, Bello reiterated commitments to strengthen its collaboration with the EFCC in the area of monitoring and tracking of all accruable revenue accruals from revenue generating agencies into the federation account.
In his response, the EFCC Chairman said his commission was ready to strengthen its ties with RMAFC in increasing revenues for the nation while blocking leakages.
This, according to Bawa, would be better achieved by prosecuting defaulting revenue generating agencies.
Bawa also called for the re-examining of the delay in revenue remittance for timely payments from revenue generating agencies.