The Chairman, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mr. Elias Mbam Monday disclosed that the sum of N474 million had been recovered into the federation account from Guinness Nigeria PLC as unremitted excise duty.
He said the development was part of the progress recorded by the commission’s verification exercise on selected manufacturing companies which had failed to pay excise duty into the government account.
In a statement by the commission’s Public Relations Officer, Mr. Nwachukwu Christian, Mbam further stressed the need to give adequate attention to excise duty payments by the players in the manufacturing industries to help increase revenue inflow to the federal government.
He further called for the strengthening of collaboration between Nigerian Custom Excise and RMAFC.
While commending the in-house Committee on Customs Revenue monitoring, he maintained 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 non-compliance by some manufacturing companies.
In his remarks, the Comptroller General of the Nigerian Customs Service, (NCS), Col. Hameed Ibrahim Ali (Rtd), commended the commission’s effort in the exercise of its oversight functions leading to the recovery of such unremitted revenue accruable to the government.
He further solicited for RMAFC’S continued inter-agency collaboration in recovering of federal governments unremitted revenues, urging the commission to continue its effort in blocking revenue leakages.
The RMAFC had recently announced that it was partnering with security agencies to embark on the verification exercise to recover outstanding revenues into the federation account.
