According to sources, the Federal Government of
Nigeria has begun investigating commercial banks for irregularities in
remittances of revenue by some of them engaged in the collection of non- oil
revenue for the federation account. Money deposit banks across the country would be
scrutinized as their activities concerning the receipt and remittances to the
federation account of taxes and duties from the Federal Inland Revenue Service
(FIRS) and the Nigerian Customs Service (NCS) have come under question to
ascertain the extent of diversion by the banks.
The Revenue Mobilization, Allocation and Fiscal
Commission (RMAFC) had earlier revealed that it discovered a wide range of
irregularities and will work transparently to recover every excess deduction
and stop further leakages.
At a news conference in Abuja, the chairman of
RMAFC, Elias Mbam said the Federation Accounts Allocation committee (FAAC) has
authorized it to carry out an investigation of the bank’s activities beginning
from January 2008 to June 2012.
A total of 21 banks in the country have been
contracted by the FIRS and the NCS to collect taxes and duties for the country.
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