The Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Dr. Mohammed Bello Shehu,has restated his commitment to reposition the Commission to effectively deliver on its mandate of fiscal oversight and transparency.
Dr. Shehu made this known in a keynote address at the opening of a three-day retreat for members of the Central Bank Monitoring Committee (CBMC), held in Kano.
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Represented by the Committee Chairman who doubles as the Commissioner representing Ebonyi State, Engr. Nduka Henry Awuregu.
According to him, the retreat was convened in line with the provisions of the newly enacted RMAFC Act, 2025, which confers an expanded monitoring mandate on the Commission.
Speaking on the importance of the CBMC, Dr. Shehu recalled that the committee was established in February 2021 to strengthen oversight of revenue inflows and disbursements from the Federation Account domiciled with the Central Bank of Nigeria (CBN).
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He explained that the decision followed repeated reports and memoranda highlighting the perennial shortfalls in revenue projections across all tiers of government and the fiscal deficits that result annually.
“The CBN is an important and cardinal institution that the Commission must relate with in carrying out its monitoring function of revenue accruals to and disbursement from the Federation Account,” he said, urging committee members to discharge their responsibilities with diligence and professionalism.
He further assured members that the Commission’s leadership would provide the necessary support to address challenges, stressing that all hands must be on deck to reposition the organisation.
In his welcome address, the Committee Chairman, represented by Vice Chairman Professor Steve Ugba, said the retreat aimed to evaluate the committee’s performance, enhance inter-agency collaboration, and deliberate on issues critical to fiscal transparency and economic planning.
Also speaking, the Secretary to the Commission described the retreat as timely, noting that it would allow members to assess their activities, identify areas of improvement, and align strategies to ensure the Commission meets its objectives.