Chairman of the Revenue Mobilisation Allocation and Fiscal Commission, Dr. Mohammed Bello Shehu OFR has reiterated his determination to reposition the organisation to achieve its mandate.
The Chairman made this known in his keynote address at the opening ceremony of a retreat organised for the members of the Central Bank Monitoring Committee in Kano from Wednesday 17th to Friday 19th September 2025
Dr. Shehu, who was represented at the occasion by the Chairman of the Committe and Honourable Commissioner representing Ebonyi State, Engr. Nduka Henry Awuregu disclosed that the retreat was organised in cognisance of the new monitoring mandate contained in the new RMAFC ACT, 2025 .
Speaking on the relevance of the Committe, the Chairman said, “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 Central Bank of Nigeria. This was based on the numerous briefs, reports and memoranda that the Commission had generated overtime on perennial underperformance of revenue projections/estimates of the annual budgets at all levels of government in Nigeria as envisage on the growing fiscal deficits experienced annually.”
Dr. Bello encouraged members of the committee to discharge their responsibility efficiently, adding that his leadership would provide support to enable them to overcome the challenges confronting them.
He underscored the significance of a healthy working relationship between the Commission and the Central Bank of Nigeria in the bid to realise its mandate.
Dr. M. B Shehu said, “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.”
He therefore called on all the members to actively participate in all the 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 Chairman of the Committee, who was represented at the occassion by his Vice Chairman Professor Steve Ugba said the aim of the retreat was to evaluate and enhance the effectiveness of the oversight functions of the Committee as well as strengthen inter- agency cooperation, and deliberate on key issues central to fiscal transparency and national economic planning.
The Secretary to the Commission described the retreat as timely and remarkable because it would enable the members of the Committee to examine their activities and think out the way forward.
He said, “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.
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