Revenue Mobilisation Allocation and Fiscal Commission

The federal government has said it is considering the review of the revenue sharing formula for the three tiers of government.

The Federal Government says it will set up a committee in the coming week to review the revenue sharing formula for Federal, States and Local Governments due to current economic realities.

Benue State Governor Samuel Ortom on Friday said states are willing to pay the N30,000 national minimum wage but would do better if the revenue sharing formula undergoes an upward review.

The Revenue Mobilisation Allocation and Fiscal Commission on Sunday said there was no going back on the on-going probing of Money Deposit Banks to ascertain the amount of money they collected on behalf of revenue generating agencies of the government.

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), says it will soon commence probe of banks over stamp duties collection as it expects to recover more than N100 billion from the probe.

President Muhammadu Buhari has forwarded to the Senate for confirmation names of 30 nominees as Chairman and Commissioners of the Revenue Mobilisation Allocation and Fiscal Commission.

Peoples Democratic Party Presidential Campaign Organization (PPCO) yesterday urged the National Assembly to immediately commence the process of the removal of Independent National Electoral Commission’s (INEC’s) Commissioner and President Muhammadu Buhari’s niece, Mrs. Amina Zakari.

The Nigeria Customs Service (NCS) monthly revenue profile submitted to Fed-eration Account Allocation Committee (FAAC) revealed the Service remitted the sum of N653.47 billion to the federation account within 11 months duration (January and November) 2018.

The president of the Nigeria Labour Congress, NLC, Comrade Ayuba Wabba, has said that Governors who feel they cannot pay the N30,000 minimum wage should resign.

The former Chairman of Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC), Hamman Tukur, who introduced monetisation policy died in Kaduna on Saturday and has been buried according to Islamic rites.

The Socio-Economic Rights and Accountability Project has urged President Muhammadu Buhari to “intensify his government crackdown on corrupt money and recovery of other illicit wealth by public officials and institutions to fund the proposed N65,000 national minimum wage by the Nigerian Labour Congress (NLC), if he is to fulfil the needs of ordinary Nigerians who continue to struggle to make ends meet, and whom he has called his ‘constituency.’”

Civil Society Organisations (CSOs) have requested for an audit of N1.5 trillion received by the National Assembly (NASS) between 2005- 2014 as well as clarity on extra allowance paid to legislators beyond the approved amount by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC).

A Federal High Court in Lagos on Tuesday, ordered that hearing notices be issued and served on the National Assembly and others in a suit by Nigerian Bar Association (NBA) Second Vice President Monday Ubani.

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) says the nation lost about $21 billion in revenue in the last 20 years to non-review of Production Sharing Contracts (PSCs).

The Federal Government, states and local governments shared N701 billion as revenue for the month of April, the Permanent Secretary, Ministry of Finance, Mr Mahmoud Isa-Dutse, said on Wednesday in Abuja.

The 36 states of the federation have so far withdrawn about 593.1 billion from the Federation Account as revenue generated in the first quarter of 2018.

The House of Representatives has called on the Federal Government to suspend the planned sale of its 49 per cent share capital at the Nigerian Liquified Natural Gas (NLNG).

The Socio-Economic Rights and Accountability Project (SERAP) has asked the Federal High Court in Lagos to order the Senate President Bukola Saraki and 108 other senators to refund “illegal and unconstitutional N13.5 monthly allowance received by each senator with interest, and to stop the lawmakers from receiving such unjustified allowances.”