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RMAFC Commission accuses 20 banks on non-remittance of funds

We have also written the banks that failed to cooperate with the verification consultants on the implication of their action.

  • Published:
Engr. Elias Mbam- Chairman of the Revenue Mobilisation Allocation and Fiscal Commission. play

Engr. Elias Mbam- Chairman of the Revenue Mobilisation Allocation and Fiscal Commission.

(nigerianobservernews)

The Head of Public Relations of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC),  Mr. Ibrahim Mohammed, revealed to newsmen that 20 banks did not remit N12bn to the Federation Account between 2008 and 2012.

The logos of South Africa's three biggest banks, ABSA, Standard Bank and First National Bank (L-R), adorn buildings as winter storms hit Cape Town, July 8, 2015. REUTERS/Mike Hutchings play The logos of South Africa's three biggest banks, ABSA, Standard Bank and First National Bank (L-R), adorn buildings as winter storms hit Cape Town, July 8, 2015. REUTERS/Mike Hutchings

This is the total amount collected from taxes and duties on behalf of the Federal Inland Revenue Service and the Nigeria Customs Services.

According to Punch Newspapers, Mohammed said: “We have written the banks involved in the collection exercise. We have demanded for the remittance of the N12bn, which was identified during the verification exercise. Each bank has something to remit to the Federation Account."

Nigerian banking hall play

Nigerian banking hall

(channelstv)

 

Adding that “We have also written the banks that failed to cooperate with the verification consultants on the implication of their action. We believe that very soon, this will be resolved except they remain recalcitrant.”

 

 

 

 

 

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