RMAFC Moves to Strengthen Revenue Monitoring, Fiscal Accountability
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) says it is pursuing institutional reforms and digital transformation to improve revenue monitoring, transparency and fiscal governance.
The Chairman of the commission, Dr Mohammed Shehu, disclosed this in an interview with the News Agency of Nigeria (NAN) on Friday in Abuja.
Shehu described RMAFC as a strategic constitutional body responsible for safeguarding Nigeria’s revenue architecture and ensuring proper accounting and equitable distribution of federation revenues.
According to him, RMAFC monitors revenues accruing to the federation account, tracks disbursements and advises governments on revenue enhancement strategies.
“Our constitutional responsibility is to ensure that every kobo due to the federation is properly accounted for,” he said.
He said that the RMAFC’s revenue monitoring covered major revenue-generating agencies and institutions responsible for collections on behalf of the federation.
“The commission conducts monthly reconciliation exercises through the Federation Account Allocation Committee (FAAC) to verify revenues accruing to the federation account.
“The process involves representatives of the Federal Government, states, revenue agencies and other statutory stakeholders scrutinising financial records.
“Where discrepancies are identified, the commission demands explanations backed by documentary evidence until all figures are fully reconciled,” he said.
The chairman said that the FAAC technical sessions provided an avenue for stakeholders to examine revenue records and promote transparency in revenue administration.
He said that the RMAFC was also empowered to determine the remuneration of political office holders, including elected officials, ministers, legislators and judicial officers.
He said the commission was implementing a digital transformation programme to modernise revenue monitoring and improve institutional efficiency.
Shehu said that the programme would involve electronic monitoring systems, live-source data integration, advanced analytics and improved internal data storage.
“We are building a modern commission driven by technology. The objective is to strengthen transparency and evidence-based decision-making.
“Digitalisation will facilitate near real-time monitoring and reconciliation of federation revenues, while improving operational responsiveness,” he said.
He said the reform agenda also included staff capacity building, recruitment of young technical professionals, improved welfare and office modernisation.
He said that legal reforms were being pursued to strengthen the commission’s operational effectiveness and long-term sustainability.
On revenue diversification, the chairman urged Nigeria to reduce dependence on oil by developing agriculture, solid minerals, tourism, technology, entertainment and human capital.
He said that Nigeria possessed enormous economic opportunities beyond oil, and emphasised the need for stronger policies, security, legal frameworks and institutional collaboration.
Shehu reaffirmed the RMAFC’s commitment to building a transparent and professionally driven commission, capable of sustaining effective revenue management beyond individual administrations.
He said the commission’s vision was to strengthen institutional continuity, preserve public confidence and ensure that Nigeria’s revenue framework served present and future generations. #RMAFC Moves to Strengthen Revenue Monitoring, Fiscal Accountability# Fuel Subsidy Gulped N1.16trn in 2021-RMAFC
