By Jabiru Hassan
The Centre for Anti-Corruption and Open Leadership (CACOL) has commended the Senate of the Federal Republic of Nigeria for passing the bill to amend the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC) Act. The center has also urged President Bola Ahmed Tinubu to sign the bill into law.
In a statement signed by CACOL’s Chairman, Comrade Debo Adeniran, the center emphasized the significance of the bill, which grants RMAFC enforcement powers to monitor the accrual and disbursement of revenues from the Federation Account. The bill aims to bring the RMAFC Act in line with the Constitution of Nigeria and modernize its operations, as the current Act has not been updated in over two decades.
The bill, passed by the Senate on Thursday last week, seeks to replace the outdated RMAFC Act of 2004 with the newly proposed Revenue Mobilization, Allocation, and Fiscal Commission Bill, 2024. This bill also revises the composition and operational framework of RMAFC to ensure fair and efficient distribution of resources to federal, state, and local governments, helping them address governance and development challenges.
Senator Yahaya Abdullahi, Chairman of the Senate Joint Committees on National Planning and Economic Affairs, Finance, and Appropriations, explained that the bill’s primary objective is to enhance RMAFC’s role as the constitutionally recognized body responsible for monitoring revenue generation and ensuring equitable disbursement.
CACOL highlighted that RMAFC, despite its crucial role, has historically been one of the most poorly funded agencies compared to other constitutional bodies such as the Independent National Electoral Commission (INEC) and the National Assembly. The organization stressed that the bill, once signed into law, would address these issues and empower RMAFC to perform its functions effectively.
The statement concluded by expressing optimism that President Tinubu would swiftly sign the bill into law, given his track record of prioritizing bills that serve the people’s best interests.
