President Muhammadu Buhari has approved the re-appointment of Engr Elias Mbam as Chairman, Revenue Mobilization, Allocation and Fiscal Commission (RMAFC) after his first tenure that ended in November 2015.
The announcement was made through a statement from the Office of the Secretary to the Government of the Federation, OSGF.
A former Finance Minister of State from Ebonyi State, like his predecessor Engr. Hamman Tukur who had served two-term tenure, Mbam is also an electrical engineer.
The RMAFC is constitutionally empowered to monitor the accruals and disbursement of revenue from the Federation Account; review the revenue allocation formula; advise tiers of government on fiscal efficiency and determine the salaries of political office holders at federal states and local governments.
The Commission is a member of Federation Account Allocation Committee; Local Government Joint Accounts Allocation Committee; Joint Tax Board; Commission on Ecological Fund and National Council on Statistics. The Commission, the Economic Confidential gathered, is so powerful that it has the power to demand and obtain regular and relevant information, data or returns from any Government Agency including from the Nigerian National Petroleum Corporation; the Nigerian Customs Service; the Federal Board of Inland Revenue; the Central Bank of Nigeria, and the Federal Ministry of Finance.
Born on September 2 1958 in Nwofe-Agbaje area of Ebonyi State, Engr. Mba, attended Hartford State Technical College in the U.S. 1977 – 1979 for Associate Degree before moving to University of Nigeria, Nsukka where he bagged a bachelor’s degree in electrical engineering in 1984.
An Engineer by Profession, Mbam was Chairman of Ebonyi Board of Housing between 1996 and 1998 and served as commissioner of Works, Housing and Transportation in Ebonyi State from 1999-2005 before becoming the finance Minister of State between 2006 and 2007 where he chaired the monthly Federation Account Allocation Committee (FAAC).