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The Chairman, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Elias Mbam, disclosed this in Abuja on Tuesday.

Federal government considering review of revenue sharing formula

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

Federal government to review revenue sharing formula

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.

Governor Ortom: Why federal government must increase revenue allocated to states

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.

RMAFC: No going back on banks’ probe for tax collection verification

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.
national assembly abuja

More Nigerians kick against ‘welcome package’ for federal lawmakers

More than 1,500 concerned Nigerians, Socio-Economic Rights and Accountability Project (SERAP), BudgIT and Enough is Enough Nigeria (EiE) have filed a lawsuit asking the Federal High Court to “restrain, prevent and stop the National Assembly Service Commission from paying the incoming members of the 9th National Assembly individually and/or collectively over N4.68 billion as ‘welcome package’.”

Pensioners resolve to sue Southwest states

Pensioners in Ondo, Ogun, Ekiti, Oyo, Lagos and Osun states have resolved to sue their governments over non-payment of gratuities since 2008.
The Economic and Financial Crimes Commission (EFCC) says an investigation is ongoing on the seized $2.8 million at Akanu Ibiam International Airport, Enugu.

EFCC quizzes Kwara government, state assembly officials over suspicious payments

The Economic and Financial Crimes Commission, EFCC, Ilorin Zonal Office has commenced investigations into the alleged illegal payment of about N400 million to some members of the Kwara State House of Assembly and the State Executive Council members before the expiration of their tenures.

Revenue commission to probe banks over N100 billion stamp duties

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.

FIRS remitted N4.63 trillion to FAAC between January and November 2018

The Federal Inland Revenue Service (FIRS) remitted about N4.63 trillion to the Federation Account between January and November this year, revenue collection figures submitted to the Federal Ministry of Finance have shown.

Customs generates N1.1 trillion, remits N653.47 billion in 11 months

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.
Hamman Tukur

Ex-RMAFC chief Hamman Tukur passes on

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.
4 President Muhammadu Buhari addressing the Leaders of the delegation, His Majesty Eze Dr. Isaac Ikonne, Enyi 1 of Aba and his delegation in an audience at the State House in Abuja. PHOTO; SUNDAY AGHAEZE. SEPT 14 2018

Muhammadu Buhari urged to intensify crackdown on corrupt money to fund minimum wage

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.’”
National Assembly

National Assembly: CSOs request audit of N1.5 trillion received in nine years

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).
National Assembly

Suit seeking to stop National Assembly’s running costs adjourned

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.

RMAFC: Nigeria loses $21 billion to non-review of PSCs

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).

Jumbo pay: Court fixes July 3 for hearing of suit against National Assembly, others

Justice Chuka Obiozor of the Federal High Court, Lagos, on Tuesday, adjourned the hearing of a suit filed by two lawyer, Monday Ubani and John Nwokwu, against the Senate and House of Representatives over jumbo salaries.

FAAC: Federal, states, local governments share N701 billion for April

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.

House of Representatives urges federal government to halt sale of NLNG shares

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).

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Death of 17 Kwara admission seekers painful, preventable – governor

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