Finance Headline News Nigeria

Revenue Commission introduces new technology for effectiveness

The Revenue Mobilisation and Fiscal Commission office complex in Abuja

The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC), has introduced a software for electronic collection of data to be used for review of horizontal revenue Allocation formula.

The Chairman of the Commission, Mohammed Bello Shehu stated this in Abuja on Monday at a forum to enlighten state and local government officials on data management.

Mr Shehu explained that the initiative was to migrate from manual to electronic data collection whose software would serve as a source of its databank.

The Chairman of the Commission also stated that the initiative was part of the constitutional mandate of the commission which states that ‘’the formula and principles should be in conformity with present day realities’’.

A Federal Commissioner and Chairman Indices and Disbursement Committee, Chris Akomas appealed to all State and Local Government personnel present at the event, to pay rapt attention during the programme to ensure sustainability in gathering and managing data collated.

Our correspondent reports that the seven day ‘tooling programme’ is a constitutional mandate empowered by the commission that would not cause any delays in the sharing formula by Federation Account Allocation Committee, FAAC.

Reporting by Harriet Adams; Editing by Annabel Nwachukwu