New Telegraph

September 23, 2023

RMAFC recovers N474m excise duty from Guinness Plc


In its effort to recover outstanding revenue due to the Federation Account, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has recouped N474 million from Guinness Nigeria Plc. as unremitted excise duty into federation purse. Chairman of the Commission, Engr. Elias Mbam, confirmed recovery of the amount in Abuja when he met with Comptroller General of Nigeria Customs Service, Col. Hameed Ali (rtd).


Mbam said the amount recovered was part of the progress recorded by the commission’s verification excise on selected manufacturing companies in Nigeria that pay excise duty into the federation account.


While commending the in-house Committee on Customs Revenue Monitoring, the RMAFC Chairman further stated that excise duty is one of the major revenues collected by the Nigerian Custom Service into the Federation Account which is currently recording low revenue generation because of non-compliance by some manufacturing industries. Mbam harped on the need to give adequate attention to excise duty payment by manufacturing industries into the Federation Account in order to increase revenue inflow to the Federal Government.


He further called for the strengthening of collaboration between Nigerian Custom Excise and RMAFC. In his acknowledgement, Ali commended RMAFC’s effort in the exercise of its oversight functions leading to the recovery of such unremitted revenue accruable to the Federation Account.


The Comptroller General further solicited RMAFC’s collaboration in its professionalism for recovering of Federal Government’s unremitted revenue. He urged the commission to continue its effort in blocking revenue leakages.

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