Business
RMAFC Seeks NDIC’s Support To Improve Government Revenue
Joel Ajayi
The Inland Revenue Monitoring Committee (IRMC) of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) led by the Hon. Commissioner representing Oyo State Dr. Kolade Daniel Abimbola, on Wednesday 19th, November 2025, paid a working visit to the headquarters of Nigerian Deposit Insurance Corporation (NDIC).
In a statement issued on Thursday in Abuja by Head, Information and Public Relations Unit Thursday 19,November 2025, Maryam Umar Yusuf.
Speaking during the visit, Hon. Daniel Abimbola who serves as the Chairman disclosed that part of the responsibilities of the Commission is to demand and obtain from any government agency, company, or individual, information, data, documents or returns relating to the remittance of accruals or disbursement of revenue from the Federation Account, and monitor any receipt however described arising from the operation of any law” he said.
The Hon. Commissioner stated, “The visit is guided by the Commission’s mandate to ensure transparency, accountability, and optimum revenue mobilization , particularly in the aspect of Electronic Money Transfer levy for the period 2019 – 2022, and enhancing the Commission’s capacity to monitor its collections, effectively.”
“We also recognise the vital role of the NDIC in Nigeria’s financial system, and we believe there is significant value in exploring areas of collaboration that will support both institutions in fulfilling their statutory responsibilities.” He added.
Hon. Abimbola therefore called for the support of the management of NDIC in providing the needed technical support for the monitoring exercise through information sharing.
In his remarks, the Managing Director of the Nigeria Deposit Insurance Corporation (NDIC) Mr. Thompson Oluwadare Sunday explained that the NDIC was established in 1988 but commenced operations in 1989 essentially to provide services in four mandate areas of Deposite guarantee, Bank Liquidation, Bank Resolution and Prudential Regulation and Supervision.
The MD who expressed appreciation for the visit assured the delegation of the preparedness of his organisation to provide the necessary professional and technical support.
He reiterated that the Corporation would do everything within its power to support the Commission’s mandate. The MD added that NDIC recognizes the national importance of the ETL and is fully prepared to assist in strengthening the monitoring and compliance framework across deposit-taking institutions.
The Director Inland Revenue Department of RMAFC Dr. Udodirim Okongwu, in her address, appreciated the NDIC management for the warm reception and the assurance to lend its support to the commission’s efforts in monitoring the remittances and collection of electronic money transfer levy as a source of revenue for the three tiers of government, which she said would go a long way in helping to develop the country.
The Executive Director, Corporate Services of NDIC Mrs Emily Osuji, who aligned with the MD’s position, reaffirmed NDIC’s readiness to collaborate. She stated that the NDIC is open to data sharing and technical support to RMAFC.
The visit concluded with both organizations reaffirming their shared commitment to promote transparency, reduce revenue leakages, and support the Federal Government’s fiscal objectives through enhanced ETL monitoring.
Business
Combating Corruption Is a Collective Responsibility At All Levels of Governance- RMAFC Boss
Joel Ajayi
Chairman Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) Dr. Mohammed Bello Shehu OFR has reiterated that combating corruption is not the mandate of a single institution; rather, it is a collective responsibility requiring vigilance, integrity, and transparency at all levels of governance
Dr. Shehu made this remarks during a one day sensitisation program, organised by the Anti Corruption and Transparency Unit of the Commission in conjunction with the Independent Corrupt Practices and Other Related Offences Commission (ICPC), on Tuesday, 9th December, 2025, at the RMAFC headquarters in Abuja.
Represented at the occasion by the Secretary to the Commission Nwaze Joseph Okechukwu, the Chairman emphasised that RMAFC occupies a strategic position in Nigeria’s fiscal architecture.
He also said, “As the institution constitutionally empowered to monitor accruals to and disbursement of revenue from the Federation Account, we understand the critical role of ethical conduct in safeguarding public resources.”
According to him, corruption in any form undermines development, distorts fiscal planing, erodes public trust, and ultimately denies citizens the social and economic benefits that government revenues are meant to provide.
Dr. Bello who expressed delight over the convergence of key stakeholders who share a common commitment to strengthen transparency, accountability, and integrity within the national governance landscape further said, “The programme offers an opportunity to strengthen the ethical awareness, understand emerging risks, and recommit ourselves to doing what is right, just, fair and equitable at all times.”
In his opening remarks, the Chairman Anti-Corruption and Transparency Unit (ACTU), Mr. Idris Musa Sariki, who welcomed all stakeholders to the programme, expressed appreciation to the Independent Corrupt Practices and Other related Offences Commission(ICPC) for their continuous guidance and collaboration with ACTU in strengthening transparency and accountability in MDA’s.
He noted that the establishment of ACTU in RMAFC reflects the commitment of the Commission to uphold its core values of integrity, transparency, accountability, professionalism, and patriotism. He added that the ACTU unit of the Commission plays a vital role in promoting ethical conduct, monitoring compliance, and building a work environment where corruption has no space to thrive.
Speaking further, the ACTU Chairman explained that the success of the anti-corruption efforts depends not only on policies and systems but on the daily actions and decisions of every staff and management of the commission. “Today’s programme is timely, essential and provides an opportunity for staff to better understand corruption risks, preventive strategies, and their individual responsibilities as public officers.” He said.
In his contribution, the Director Servicom in the Commission, Mr. Olaye Osayemen encouraged participants to take the one day sensitisation programme seriously in ensuring adherence to the civil service financial regulations.
Highlight of the programme was the presentation of papers by ICPC officials on the “Definition of corruption” by Ozor Ijeomah and “Ethical decision making in doing government business” by Dr Anike Adesina.
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