FIRS Report On Customs, Banks Ready, Sept

The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC), will release the report of the investigation to verify appropriate remittances by banks engaged by the Federal Inland Revenue Services (FIRS) and the Nigeria Customs Service (NCS) in September.

The Chairman of RMAFC, Mr Elias Mbam, told our correspondent in an interview on Tuesday in Abuja..

Mr Mbam said that a team of consultants, headed by J.K. Consulting Company had been hired to examine the books of all the 21 commercial banks used by FIRS and the NCS.

He  said the aim of the exercise was to recover any excessive deductions and stop leakages, as well as to enhance transparency and accountability in revenue remittance into the federation account.

“Part of our responsibility is to monitor the sources of revenue. If we look at the books and we see that their deductions do not conform to the books, then we can say that these are illegal deductions.

“We have sent consultants to the field to look at the books and report to us.

” The report is scheduled to be out by the end of August, but it is not yet ready, due to some challenges, but by September, all investigations should have been concluded,” he added.