Thursday, October 29, 2020
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RMAFC Recovers N474m Unremitted Revenue from Guiness

RMFARC

By Tony Obiechina, Abuja

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has recovered over N470,000 million unremitted excise duty into the Federation Account from Guinness Nigeria PLC.

The Chairman of the Commission Engr Elias Mbam who disclosed this in Abuja noted that it was part of the progress recorded by the Commission’s Verification excise on selected manufacturing Companies that pay excise duty into the Federation account.

While commending the in-house Committee on Customs Revenue monitoring, the RMAFC Chairman further stated that excise duty is one of the major revenues collected by the Nigerian Custom Service into the Federation account which is currently recording low revenue generation because of noncompliance by some manufacturing industries.

Engr Mbam harped on the need to give adequate attention to excise duty payment by manufacturing industries into the Federation account in order to increase revenue inflow to the Federal Government.

He further called for the strengthening of collaboration between Nigerian Custom Excise and RMAFC.

The Comptroller General of the Nigeria Customs Service (NCS), Col Hameed Ali (Rtd), commended  RMAFC’s efforts in exercing over sight functions leading to the recovery of such unremitted revenue into the Federation Account.

While soliciting RMAFC’S continued inter Agency collaboration in the recovery of Federal Government’s unremitted revenue, the Comptroller General urged the Commission to intensify efforts in blocking revenue leakages.

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