• Sat. Oct 23rd, 2021

RMAFC sought the separation of the office of Accountant-General of the Federation from the Accountant-General of the Federal Government

Byadmin

Nov 5, 2020

The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) has sought the separation of the office of Accountant-General of the Federation from the Accountant-General of the Federal Government.

The chairman of the commission, Elias Mbam, said this during its budget defence before the House Committee on Finance on Wednesday in Abuja.

According to the chairman of the commission, Elias Mbam, currently the account is managed by the Accountant-General of the Federation who also doubles as Accountant-General of the Federal Government.

Mr Mbam also expressed worry over the high cost of governance in Nigeria which has continued to increase, adding that it was unsustainable as no country could develop with such high level of recurrent expenditure.

He, however, said that the recommendation to ensure cost reduction included avoiding unnecessary duplication of agencies with similar functions.

The commission also proposed N2.2 billion (N2,223,176,808) for its 2021 budget out of which personnel cost is N1,654,784,707; overhead is N344,762,287 and the capital is N223,629,814. The Chairman House Committee on Finance, James Faleke, told the commission that Nigerians were yearning for a new revenue formula and are complaining that the money allocated to the federal government was too much, it should be reduced and redirected to states and local governments.

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