Commission accuses 20 banks on non-remittance of funds

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.

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."

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.”