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RMAFC To Recover N56.6bn From Five States, MDAs

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8 years ago

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The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) says it will recover an additional N56.6 billion from five states and federal Ministries, Departments and Agencies (MDAs) in the ongoing tax liabilities recovery.
The Acting Chairman, Mr Shettimma Abba-Gana, made the remark in an interview with newsmen in Abuja, Wednesday.
He said the exercise covered between 2005 and 2015 across 30 states of the federation.
He said that the exercise, being carried out by the commission, had already uncovered N115 billion.
Abba-Gana said that monitoring and auditing were an ongoing exercise meant to discover and recover funds, collected and meant for the federation account.
“We always go back to monitor and audit and check if the right tax collected has been remitted.
“So, we find new taxes that have not been remitted or collected, and it’s good that we are doing this, and are finding uncollected and unremitted revenue.
“The exercise also has another benefit because it will serve as a deterrent to the agencies, tax payers or tax collectors, to be aware that sooner or later RMAFC will come.
“So, they might as well make sure they have got their books in order.’’
He added that the exercise was expected to bring about an increase in revenue collection and remittance.
Abba-Gana said there were sanctions for delays in the remittance of the revenues, but that they would only be applied where it was established that those delays were made on purpose.
“It is not going to be fair to say that some of these things are deliberate.
“They may be, but we have to give benefit of the doubt whether something was forgotten or maybe bureaucracy or wrongful applications or some mistakes have been made.
“They could be acts of deliberate attempts to evade or avoid paying the revenues, but it is always better to say there could be mistakes, forgetfulness or misapplication of the rates and things like that.
“So, when issues of deliberate attempts to not remit are found, definitely some agencies like the Economic and Financial Crimes Commission (EFCC) would have to be brought in, and sanctions would follow from there.
“There is a charge for delayed remittances but when a major problem is found, the EFCC will have to be brought in.’’
He also spoke about verification and reconciliation of revenue collections and remittances from collecting banks, on behalf of the Federal Inland Revenue Service (FIRS) and the Nigeria Customs Service (NCS).
Abba-Gana said that N6.4 billion was recovered between January 2008 and June 30, 2012, while the second phase that covered July 31, 2012 to December 31, 2015 recovered N40 billion.
He, however, said that an uncontested N7.9 billion had been established from the concluded reconciliations with the banks.
The RMAFC was established to monitor accruals into the federation account and the disbursement of revenue from it.

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PENGASSAN Tasks Multinationals On Workers’ Salary Increase 

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3 days ago

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December 8, 2025

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The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has asked companies in the oil and gas sector to undertake urgent review of salaries of their workers in view of the prevailing harsh economic conditions in the country.
Also, the pensioners of Chevron Nigeria, under the aegis PenCoN, have lauded the President of PENGASSAN, Comrade Festus Osifo and his executive on their unrelenting efforts toward addressing pension abnormalities faced by retired workers in the oil and gas industry.
The association also appealed to the federal government to take necessary measures to check banditry and terrorist activities in parts of the country.
PENGASSAN President, Osifo who addressed journalists shortly after the National Executive Council meeting of the association in Abuja, at the weekend, said that though a lot of success has been recorded in negotiating salary reviews for its members, there are still organisations that have failed to lift their workers from the present harsh economic situation.
He said within this period, PENGASSAN has signed numerous Collective Bargaining Agreements (CBAs) which has brought smiles to the faces of its teeming members.
“This is because we recognise that our job, literally, is how to protect the job of our members, and how to enhance their pay,” he said.
Osifo said that operators in the oil and gas sectors always go for the best qualified professionals to carry out their operations.
“So, the same way they recruit the best, we also challenge them to provide the best condition of service and provide the best remuneration.
“Yes, today, a lot of companies will have achieved successes, but there are still few that we are still discussing at their CBAs, that we are not yet there.
“We still use this opportunity to call on these companies that are still foot dragging, that are still holding back, even with the massive devaluation that has occurred in our country, that still don’t want to fix the remuneration of our members.
“We are calling on them to do the needful, because for us in PENGASSAN we will push without holding back. We will push, using everything in our arsenal, to ensure that the needful is done,” he said.
Osifo spoke of the dispute with the Dangote Refinery group, saying there are still pending issues to be resolved.
“Gentlemen of the press, during the networking session, we also looked at the issues that are plaguing some of our branches, and you know that recently, we had some challenges in Dangote Refinery and PetroChemicals Ltd.
“And within this period, since our last National Industrial Action, we have been engaging them in a lot of conversations, but the issues are not fully resolved. There are still a lot of pending issues.
“Yes, the NEC decided that, yes, let us still consummate that process by pushing those issues, by engaging in dialogue to resolve the issues, and by also engaging all our social partners and stakeholders to get the issues resolved,” he said.
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SEC Unveils Digital Regulatory Hub To Boost Oversight Across Financial Markets

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3 days ago

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December 8, 2025

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The Securities and Exchange Commission (SEC) has launched the Regulatory Hub, a new centralized digital platform designed to streamline collaboration, strengthen oversight, and improve transparency across Nigeria’s financial and capital market ecosystem.
The Commission disclosed this in a statement posted on its website.
According to the commission, the platform connects key regulatory and security institutions including the Office of the National Security Adviser (NSA), the Central Bank of Nigeria (CBN), Economic and Financial Crimes Commission (EFCC), Federal Inland Revenue Service (FIRS), and Corporate Affairs Commission (CAC), enabling them to exchange information securely and in real time.
The launch of this regulatory hub comes ahead of the implementation of new tax laws in January 2026, with agencies such as the FIRS spreading its tentacles across sector to monitor compliance.
According to the SEC Director-General, Emomotimi Agama, the launch marks a significant step toward modernizing Nigeria’s regulatory framework through technology.
“The Regulatory Hub is a major step in our commitment to leverage technology for stronger regulatory synergy. By connecting regulators on one platform, we are building resilience, enhancing market integrity, and promoting investor confidence,” he said.
The SEC said the platform would help reduce bottlenecks in regulatory processes and facilitate faster, more informed decision-making across agencies.
Reinforcing the DG’s comments, the Executive Commissioner, Operations, Bola Ajomale, highlighted the operational benefits of the new system.
“The platform will significantly improve the timeliness and quality of regulatory decision-making. It provides a single window for regulators to share data, respond to requests, and collaborate seamlessly in safeguarding our financial and capital markets,” he said.
The commission believes the Regulatory Hub would support its broader mandate to strengthen investor protection, enhance market stability, and harmonize regulatory activities across the financial sector.
It urged stakeholders to initiate interest by emailing the Commission, adding that once registered, participants would be able to access the Hub and take advantage of its features.
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NAFDAC Decries Circulation Of Prohibited Food Items In markets …….Orders Vendors’ Immediate Cessation Of Dealings With Products 

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3 days ago

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December 8, 2025

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The National Agency for Food and Drug Administration and Control (NAFDAC) has raised an alarm over the growing circulation of banned food products across markets in the country.
The agency, in a Press Release dated 6 December 2025, warned that these items including pasta, noodles, sugar and tomato paste are expressly listed on the Federal Government’s Customs Prohibition List and are illegal to import.
NAFDAC stated that the sale and distribution of such prohibited items violate national trade laws, compromise the integrity of Nigeria’s food control system, and pose significant public health risks, as they have not undergone the agency’s mandatory safety and quality evaluations.

Importers, market traders, and supermarket operators have therefore, been directed to immediately cease all dealings in these items and to notify their supply chain partners to halt transactions involving prohibited products.

The agency emphasized that failure to comply will attract strict enforcement measures, including seizure and destruction of goods, suspension or revocation of operational licences, and prosecution under relevant laws.

The statement said “The National Agency for Food and Drug Administration and Control (NAFDAC) has raised an alarm over the growing incidence of smuggling, sale, and distribution of regulated food products such as pasta, noodles, sugar, and tomato paste currently found in markets across the country.

“These products are expressly listed on the Federal Government’s Customs Prohibition List and are not permitted for importation”.

NAFDAC also called on other government bodies, including the Nigeria Customs Service, Nigeria Immigration Service(NIS) Standards Organisation of Nigeria (SON), Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigeria Shippers Council, and the Nigeria Agricultural Quarantine Service (NAQS), to collaborate in enforcing the ban on these unsafe products.

By: Lady Godknows Ogbulu
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