The Federal Government, through the Revenue Mobilisation Allocation and Fiscal Commission, said it had recovered over N474m into the Federation Account from Guinness Nigeria Plc, as unremitted excise duty.
This was disclosed by the Chairman of the Commission, Elias Mbam, in Abuja.
He said that the recovery was part of the progress recorded by the Commission’s verification exercise on selected manufacturing companies in Nigeria that pay excise duty into the Federation Account.
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 stated that there was a need to strengthen collaboration between the Nigeria Customs and RMAFC in order to recover outstanding excise duty.
While commending the in-house Committee on Customs Revenue monitoring, the RMAFC Chairman further stated that excise duty was one of the major revenues collected by the Nigeria Customs Service into the Federation Account, which was currently recording low revenue generation because of non-compliance by some manufacturing industries.
In his acknowledgement, the Comptroller General, NCS, Col. Hameed Ibrahim Ali (retd), 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 for RMAFC’s continued inter-agency collaboration in its professionalism towards recovering Federal Government’s unremitted revenue.
He urged the Commission to continue its effort in blocking revenue leakages