August23, 2010

For additional Information about the RMAFC – See YAShuib’s http://www.yashuaib.com/rmafc.htm

 

 

The Federal Government has nominated Engr. Elias Nwalem Mbam, a former Finance Minister of State from Ebonyi State to serve as the new Chairman of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), the Economic Confidential, an online journal reports.

 

Like his no-nonsense predecessor, Engr. Hamman Tukur from Adamawa State, Mbam is also an electrical engineer.  Included in the nomination that would be ratified by the National Assembly are 24 Federal Commissioners representing various states to fill existing vacancies at the agency. Some of the nominees, according to the Economic Confidential, include former deputy governor, ministers, legislators, chief executive officers of corporate organizations and retired military personnel,

 

The RMAFC is constitutionally empowered to monitor the accruals and disbursement of revenue from the Federation Account; review the revenue allocation formula; advise tiers of government on fiscal efficiency and determine the salaries of political office holders at federal states and local governments.

 

The Commission is a member of Federation Account Allocation Committee; Local Government Joint Accounts Allocation Committee; Joint Tax Board; Commission on Ecological Fund and National Council on Statistics. The Commission is so powerful that it has the power to demand and obtain regular and relevant information, data or returns from any Government Agency including from the Nigerian National Petroleum Corporation; the Nigerian Customs Service; the Federal Board of Inland Revenue; the Central Bank of Nigeria, and the Federal Ministry of Finance.

 

The appointment of Mbam from Ebonyi State in the Eastern part of the country is to reflect the Federal Character principle on top sensitive  positions in the economic sector where presently Mr. Segun Agaga, Finance Minister comes from South-West; Ibrahim Dankwambo, Accountant General of the Federation from North-East; Mrs. Ifueko Omoigui-Okauru, Chairman Federal Inland Revenue Service  from South-South; Mallam Sanusi Lamido Sanusi of Central Bank of Nigeria from North-West  and Mr. Samuel Ukura, Auditor-General of the Federation from the North-Central.

 

Born on September 2 1958 in Nwofe-Agbaje area of Ebonyi State, Engr. Mba, attended Hartford State Technical College in the U.S. 1977 – 1979 for Associate Degree before moving to University of Nigeria, Nsukka where he bagged a bachelor’s degree in electrical engineering in 1984.

 

An Engineer by Profession, Mbam was Chairman of Ebonyi Board of Housing between 1996 and 1998 and served as commissioner of Works, Housing and Transportation in Ebonyi State from 1999-2005 before becoming the finance Minister of State between 2006 and 2007 where he chaired the monthly Federation Account Allocation Committee (FAAC). He is a loyalist of Dr. Sam Egwu former Governor of Ebonyi State.

 

Source: Economic Confidential