Mohammed Shehu, the new Chairman of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), has been sworn in by President Muhammadu Buhari.
According to the News Agency of Nigeria (NAN), the Chairman was sworn in just before the Federal Executive Council’s (FEC) weekly virtual meeting got underway on Wednesday in the Council Chambers of the Presidential Villa in Abuja.
Bello’s appointment, according to NAN, came after the resignation of the previous Chairman, Elias Mbam, who ran for governor of Abia in the All Progressives Congress (APC) primary election.
After the exercise, Bello promised to put in a lot of effort to help the nation increase its revenue while staying within the bounds of the law.
He said: “I can assure the president that the commission as one of the 14 constitutionally recognised ones will do what it takes to assist him to get more revenues before he leaves office next year.
“We will also ensure that we maintain our independence as enshrined in the constitution.’’
According to him, the commission will collaborate with all stakeholders to ensure that Nigeria strengthens its monetary mechanisms.
Bello said: “The task is challenging. So, our task as a revenue mobilization agency is how we can assist Mr President to get more revenues for the federation and block leakages.
“And also looking at the constitutional responsibility of the commission, which of course are, monitoring of accruals to the Federation Account, disbursement and also mobilization.
“Also taking care of the salaries of political office holders and judicial officers, as enshrined in the constitution that had not been reviewed since 2008. And I think there is agitation for that.
“And also, from time to time, come up with a new revenue allocation formula, which the commission successfully did, sometimes I think, in February this year, and we have submitted our report to Mr President.
“What he stated at that time was that he was waiting to see what the National Assembly will do in terms of looking at concurrent list and exclusive list as well as constitutional amendment.”
Bello said if the president was satisfied with what the National Assembly does, he will forward a recommendation and make it an Act so that it becomes a law.