RMAFC, EFCC Uncovers Oil Firms’ $205m Unremitted Funds   The Revenue Mobilisation Allocation and Fiscal Commission(RMAFC) has said that it discovered $205.01m unremitted to the federation account by oil and gas companies through joint efforts with the Economic and Financial Crimes Commission(EFCC). It noted that it had...

RMAFC Says Petroleum Act Won’t Stop IOCs’ Nigeria Divestments   The Petroleum Industry Act 2021 may not stop the trend of divestments by international oil companies operating in the Nigerian oil and gas sector, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has said. In August 2021,...

Finance Bill: RMAFC, FIRS Disagree Over Power To Collect, Monitor FG’s Revenue   The Chairman, Revenue Mobilization, Allocation and Fiscal Commission (RMAFC) Ellias Mbam yesterday disagreed with the Chairman of the Federal Inland Revenue Service (FIRS), Dr Muhammad Nami over powers granted the latter to collect...

New Revenue Sharing Formula’ll Meet Nigerians’ Aspirations – RMAFC   The Revenue Mobilisation Allocation and Fiscal Commission has said it will unveil a new revenue allocation formula for the federal, state and local governments before the end of this year. This is coming years after the revenue...

RMAFC Presents New Revenue Sharing Formula To Buhari December   The Revenue Mobilisation, Allocation and Fiscal Commission says it will be ready to present a new revenue sharing formula to President Muhammadu Buhari for onward transmission to the National Assembly by December. It said the ongoing consultation...

The Imperative Of New Revenue Allocation Formula, by Abubakar Jimoh           Effort to produce a fair, just, and equitable vertical revenue sharing formula that will be acceptable to the majority of Nigerians brought to the fore, the ongoing review process embarked by Revenue Mobilisation Allocation and...