Chairman of Nigeria’s Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Dr. Mohammed Bello Shehu, OFR, has reiterated his determination to reposition the organisation to effectively achieve its mandate.
He stated this in a keynote address delivered at the opening ceremony of a retreat organised for members of the Central Bank Monitoring Committee (CBMC) in , which runs from Wednesday, 17th to Friday, 19th September 2025.
Dr. Shehu, who was represented by the Chairman of the Committee and Honourable Commissioner representing Ebonyi State, Engr. Nduka Henry Awuregu, said the retreat was organised in recognition of the new monitoring mandate contained in the RMAFC Act, 2025.
Speaking on the relevance of the Committee, the RMAFC Chairman explained:
“The Central Bank Monitoring Committee (CBMC) was created in February 2021, following the need to set up the processes to closely monitor revenue accruals to and disbursement from the Federation Account domiciled with the Central Bank of Nigeria. This was based on the numerous briefs, reports and memoranda that the Commission had generated over time on perennial underperformance of revenue projections/estimates of the annual budgets at all levels of government in Nigeria as envisaged on the growing fiscal deficits experienced annually.”
He urged members of the committee to discharge their responsibilities efficiently, assuring them of his leadership’s support to overcome challenges.
Dr. Shehu also underscored the importance of collaboration between the Commission and the Central Bank of Nigeria (CBN), stressing:
“The CBN is an important and cardinal institution that the Commission must relate with in carrying out its monitoring function of revenue accruals to and disbursement from the Federation Account.”
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He further called on members to actively participate in all sessions and proceedings of the retreat.
“With the new Act, all hands must be on deck to ensure the successful repositioning of the Commission to discharge its functions with professionalism,” he said.
In his welcome address, the Committee Chairman, represented by his Vice Chairman, Professor Steve Ugba, said the retreat aimed to evaluate and enhance the effectiveness of the Committee’s oversight functions, strengthen inter-agency cooperation, and deliberate on key issues central to fiscal transparency and national economic planning.
Also speaking, the Secretary to the Commission described the retreat as timely and remarkable, noting that it would provide members the opportunity to assess their activities and chart a way forward.
“The retreat is timely. It will afford them the opportunity to appraise themselves and see where they are getting it right or wrong to be able to streamline their activities to ensure that their mandate is achieved,” he said.
