The Revenue Mobilisation and Fiscal Commission (RMAFC) has raised the alarm over the provisions in the proposed Finance Bill 2021, saying that if implemented, such actions would lead to revenue and job losses.
The House of Representatives organised a public hearing on the Bill in Abuja on Monday.
Commenting in a statement on Monday, the commission said the Finance Bill through the planned amendments of extant laws will remove the checks and balances as enshrined in Nigeria’s 1999 Constitution, thereby exposing the government’s revenue to possible leakages.
The statement was signed by RMAFC’s Chairman, Public Affairs and Communications Committee, Dr. Rilwan Hussein Abarshi.
‘‘The proposed amendment to S.68(1-6) of the FIRS establishment Act and Section 4(1-3) of the Finance (Control and Management Act if passed; will infringe on the constitutional mandate of monitoring accrual into the Federation Account as well as revenue payable into the Consolidated Revenue Fund of the Federation from the Nigerian National Petroleum Corporation ( NNPC), Nigerian Customs Service (NCS), the Board of Federal Inland Revenue Service (FIRS), Central Bank of Nigeria (CBN), Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency, (NIMASA), the Federal Ministry of Finance (FMF and other revenue-generating agencies,” the statement declared.
By the provisions of paragraph 32(a-e) part 1 to the Third Schedule of the 1999 constitution (as amended) RMAFC is empowered to, among other things, monitor all revenue accruals to and disbursement of revenue into the Federation Account, while the FIRS has the responsibility of collection of tax revenues on behalf of the federal government.
RMAFC said if passed as it is, the Finance Bill may lead to job cuts as its employees as well as over 500 consultants will be thrown into the labour market.
‘’With so many employees and over 500 consultants on the wage bill of the Commission for the third phase of the project which covers MDA’s and private companies; the monitoring duties of Commission’s staff, livelihoods of these Nigerians hang on the balance if this ludicrous bill sees the light of day,’’ he added.
