The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) is intensifying efforts to curb revenue leakages in government agencies, seeking robust collaboration with the Economic and Financial Crimes Commission (EFCC).

In a recent meeting between RMAFC Chairman, Mr. Muhammad Shehu, and EFCC Executive Chairman, Mr. Ola Olukoyede, the focus was on recovering unremitted revenues from various sectors.

“We are calling on EFCC for more collaboration, not only in enforcement but also in intelligence gathering and data sharing regarding government revenue from all sources,” stated Mr. Shehu during the visit.

Highlighting the constitutional mandate, Mr. Shehu emphasized the need for all agencies to remit revenues directly to the Federation Account, rather than retaining funds as operating surplus. He pointed out discrepancies in revenue handling by Government Owned Enterprises (GOEs), stressing that such practices contravene constitutional provisions.

The collaboration between RMAFC and EFCC has already yielded significant results in past years, including the recovery of N74 billion from banks between 2008 and 2015. More recently, efforts expanded to include the public and oil sectors from 2016 to 2019, resulting in the recovery of over N216 billion.

In response, EFCC Chairman Mr. Olukoyede pledged enhanced cooperation to ensure effective management of government revenue, underscoring the importance of transparency and accountability in national governance.

“The foundation of our economic growth lies in transparency and accountability in public affairs,” stated Mr. Olukoyede. He urged both agencies to focus not only on recoveries but also on addressing systemic loopholes that perpetuate revenue leakages.

He added, “Our focus should be on fixing the systemic issues in revenue generation and mobilization. Let’s prioritize the integrity of our systems to prevent future mismanagement.”

The joint effort between RMAFC and EFCC signifies a renewed commitment to safeguarding government revenues and ensuring fiscal responsibility across all sectors.

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