President Muhammadu Buhari has forwarded to the Senate the name of Barrister Emma Nwosu to represent Southeast, nay Imo State as a Federal Commissioner of Revenue Mobilization Allocation and Fiscal Commission (RMAFC) for confirmation.
RMAFC was established by Decree No.49 of 1989 (now an Act of National Assembly) to handle revenue allocation and fiscal matters on a continuous basis.
However, Decree No.49 of 1989 was later amended by Decree No.99 of 1993 (now RMAFC Act Cap R7 LFN 2004). The Commission was thus re-named Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) in the 1999 Constitution of the Federal Republic of Nigeria under Section 153(1) as one of the Fourteen (14) Federal Executive Bodies.
The Federation Account is a common pool from which revenues generated into it are then shared among the three tiers of Government.
The Commission, therefore, has the statutory mandate to monitor all accruals into and disbursement of revenue from the Federation Account. It advises the Federal and State Governments on fiscal efficiency and methods by which their revenue can be increased and also determine the remuneration appropriate for political office holders including the President, Vice President, Governor Deputy Governors, Ministers, Commissioners, Special Advisers, Legislators.
The agencies that collect and remit revenue into the Account include Nigerian National Petroleum Corporation (NNPC), Nigerian Customs Service (NCS), Federal Inland Revenue Services (FIRS), and Department of Petroleum Resources (DPR), etc. This is to ensure that all revenues accruable into the Federation Account are collected, properly accounted for, and paid into this account.
In accordance with the provision of Section 154(1) of the Constitution of the Federal Republic of Nigeria 1999 (as amended), President Muhammadu Buhari forwarded to the Senate for confirmation, the following names: Salamatu Mohammed Bala, Adamawa State; Hon. Alfred Egba (Esq), Bayelsa; Alh. Adamu Shettima Yuguda Dibal, Borno; Barr. (Sir) Emma Nwosu, Imo State; Oladele Semiu Gboyega, Osun State; Bello Abubakar Wamakko, Sokoto; Ahmed A. Yusuf, Taraba as Commissioners of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC).
The names were conveyed in a letter signed by the President to the Senate President, Distinguished Senator Ahmad Ibrahim Lawan, asking for expeditious consideration and confirmation of the appointments.