Corruption has eaten deep into the fabric of the nation and has once again reared its ugly head as government funds are not being remitted.

It becomes baffling to note that bad eggs serving in revenue-generating agencies are refusing to remit revenue generated within that system.


A Thing like this cannot continue if the Nigerian economy must rise again.

RMAFC Set To Prevent Income Leakages Regardless Of Source
RMAFC Boss, Shehu Muhammed

It has been revealed that a huge portion of government revenue is being held in un-remitted bank vaults.


This worrisome information was shared by the Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMFAC), Mohammed Shehu.

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Furthermore, Shehu revealed that revenue-generating agencies are not remitting funds to the government.

Abuse Of Procedure

The RMAFC chairman said a sizable portion of government funds are being held in reserve in banks.

Shehu disclosed this worrisome trend while receiving the Comptroller-General of the Nigerian Customs Service, Bashir Adeniyi, on Wednesday in Abuja.

He lamented the abuse of procedure that results in loss of revenue, including evasion of payment of levies, duties, and other related revenue.


This has created room for a lot of funds to be trapped with the stakeholders, especially the commercial banks.

However, Shehu assured Nigerians that the RMAFC was prepared to prevent income leakages, regardless of their source.


He said: “The major issue of concern to RMAFC is the non-remittance of monies to the government coffers.

“It’s a situation we are not happy about because it has created room for a lot of funds trapped with the stakeholders, especially the commercial banks.

“We, therefore, seek to leverage your timely visit to enlist your support for the commission to recover these funds and deliberately improve revenue mobilisation.

“We shall advise the present administration on appropriate measures to increase revenue generation for the Federation Account”.

To Exceed Revenue Target

In his response, the head of Customs emphasised that the agency was prepared to exceed its ₦‎3.2 trillion collection target from the previous year.

Also, Adeniyi expressed gratitude to the commission for alerting it to potential leaks.

“The Nigeria Customs Service is empowered to collect and account for revenue from import duties, excise duties, and other taxes and levies.”

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Basically, the service receives an annual revenue target from the Federal Government.

For the year 2023, the NCS was given a target of ₦‎3.7tn and generated ₦‎3.21tn, which represents 87% of the total revenue target.

“The Customs pledges its unalloyed support and will collaborate with RMAFC in ensuring that there is proper accountability of government funds.


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