The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has announced plans to strengthen revenue oversight, improve transparency and enhance fiscal management through institutional reforms and digital innovation.
The chairman of the commission, Mohammed Shehu, made this known during an interview with journalists on Friday in Abuja.
Shehu explained that RMAFC plays a vital constitutional role in protecting Nigeria’s revenue system by ensuring proper monitoring, accounting and fair allocation of funds accruing to the federation.
He noted that the commission tracks revenue collections into the Federation Account, monitors disbursements and provides recommendations to governments on ways to improve revenue generation.
“Our constitutional responsibility is to ensure that every kobo due to the federation is properly accounted for,” he said.
According to him, RMAFC conducts regular monitoring of key revenue-generating agencies and carries out monthly reconciliation exercises through the Federation Account Allocation Committee (FAAC) to verify government revenues.
He said the reconciliation process involves officials from the federal and state governments, revenue agencies and other relevant stakeholders who review financial records to ensure accuracy.
“When discrepancies are identified, the commission requests explanations supported by relevant documents until all figures are completely reconciled,” he added.
The RMAFC chairman said FAAC technical meetings have continued to provide a platform for stakeholders to assess revenue records and promote accountability in the management of public funds.
He also stated that the commission has the constitutional responsibility of determining the remuneration of public office holders, including elected officials, ministers, lawmakers and judicial officers.
Shehu disclosed that RMAFC is currently implementing a digital transformation strategy aimed at modernising its operations and improving revenue monitoring.
He said the initiative would introduce electronic monitoring platforms, real-time data integration, advanced analytical tools and improved information management systems.
“We are building a modern commission driven by technology. The objective is to strengthen transparency and evidence-based decision-making,” he said.
He added that digitalisation would enable faster monitoring and reconciliation of federation revenues while improving the commission’s efficiency.
The chairman further revealed that the reform programme includes staff training, recruitment of young professionals with technical skills, improved welfare packages and the upgrading of office facilities.
He said efforts were also underway to review existing laws to strengthen RMAFC’s effectiveness and ensure its sustainability.
On boosting revenue sources, Shehu urged Nigeria to move away from overdependence on crude oil by investing more in sectors such as agriculture, solid minerals, tourism, technology, entertainment and human capital development.
He stressed that the country has significant economic potential outside the oil sector, but achieving growth requires stronger policies, improved security, better legal frameworks and cooperation among institutions.
Shehu reaffirmed RMAFC’s commitment to creating a transparent and professional institution capable of supporting effective revenue management beyond different government administrations.
He said the commission’s goal is to maintain public confidence, strengthen institutional stability and ensure Nigeria’s revenue system benefits both current and future generations.