Home Business FIRS contributes more than half of funds entering Federation Account, Says RMAFC

FIRS contributes more than half of funds entering Federation Account, Says RMAFC

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Chairman of the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) Chief Elias Mbam has commended the efforts of the Federal Inland Revenue Service (FIRS) towards revenue generation, stating that the agency contributed 59.7 percent, representing more than half of revenues to Federation Account in the last three months.

Mbam spoke on Thursday during a visit to FIRS Headquarters by the Commission.

“I want to observe with pleasure that in the last three months, the FIRS has been the major contributor to the federation account. The average contribution from the FIRS in the last three months is about 59.7 percent. In other words, more than half of the revenue shared to the three tiers of government comes from the FIRS. So, I thank you for that effort”, Mbam said.

Mbam who led a team of RMAFC Commissioners and other Management members also noted that the Commission and FIRS would continue to collaborate.

“You would recall, Mr. Chairman that sometime in June, you were present when the members of the Revenue Mobilisation, Allocation and Fiscal Commission were sworn-in. They have all assumed duty. And in order to understand the terrain, the needed to familiarise themselves with major stakeholders of the Commission, the activities they do so as to aid them in their work. One of our major stakeholders is the FIRS.

“We are here to familiarise ourselves with your activities, to know areas of collaboration, your challenges, which we will also help to pass to the Federal Government. We also want to know where we can be of help. We are all working for the same government and our work is collaborative”, he added.

The Executive Chairman of FIRS, Tunde Fowler noted that FIRS would continue do its best to generate revenue to fund the three tiers of government.

“We have always told ourselves that the job we do is for the love of the country. We will continue to deliver quality services in tax administration in Nigeria.

“We are deploying technologies to make it easy for taxpayers to pay their taxes conveniently, even from the comfort of their homes or offices, download tax receipts and do other transaction with FIRS without visiting the tax office.

“We know the need for increased revenues to the government and we will continue do our best to fund the three tiers of government”, Fowler said.

While presenting a book on President Muhammadu Buhari, titled ‘Taxpayers are King’, to Mbam, Fowler said that FIRS adopted the book to underscore the selfless service of President Buhari to Nigeria.

“President Muhammadu Buhari has demonstrated an uncommon love for this country. His love for the country led him to the military where he served very well and become the Military Head of State. His passion for Nigeria prompted him to election to be a civilian president.

“He had gone as long as determining to lay down his life to look for the interest of the people of this country. The style of President Muhammadu Buhari is what we are adopting in FIRS. We make it clear to ourselves that our job must be for the love of the country”, Fowler said.